Global Duty-free Retailing Market 2015-2019
Description-
Overview
of the duty-free retailing market
Technavios
research analyst predicts the global duty-free retailing market to
grow steadily at a CAGR of around 9% during the forecast period. The
increase in international travelers is the primary driver for the
growth of this market. The number of foreign travelers during 2014
was around 1 billion, with Europe emerging as the most popular
destination.
However,
the restrictions on the baggage weight is expected to deter the
growth of this market during the forecast period. For instance, in
the economy class of Lufthansa, passengers are only allowed one hand
baggage of up to 8 kilos. This restriction creates a loss of
opportunity for products like alcohol that is heavier than any other
product group.
Product
segmentation and analysis of the duty-free retailing market
Fashion,
accessories and hard luxury
Perfumes
and cosmetics
Wines
and spirits
Tobacco
Confectionary
and fine food
The
fashion, accessories, and hard luxury segment dominated the duty-free
retailing market during 2014 with a market share of around 32%. This
segment is anticipated to retain its market dominance until the end
of 2019, growing at a rate of 11%. Precious jewelry, briefcases,
handbags, and shoes are the key driving products in this category.
Some of the popular brands in this segment are Michael Kors, Armani,
Fossil, Gucci, and Burberry.
Segmentation
by distribution channel and analysis of the duty-free retailing
market
Airports
Ports
and railway stations
Airlines
and ferries
Airports
contributed 59% of the global market revenue during 2014 and is
expected to retain its market leadership until the end of 2019. For
instance, during 2014, Shanghai Pudong International Airport
increased its Sunrise Duty-Free retail space by nearly 50% to
increase the sales turnover.
Geographical
segmentation and analysis of the duty-free retailing market
Americas
APAC
Europe
MEA
APAC
accounted for 38% of the market share during 2014 and is expected to
grow at a CAGR of 11% during the forecast period. South Korea, China,
Hong Kong, Singapore and Thailand are the key countries that are
driving the sales in this market. South Korea and China contribute
around 20% of the global revenue from duty-free retailing.
Competitive
landscape and key vendors
The
global duty-free retailing market is dominated by more than 20 big
retailers. Key players like DFS and Lotte are tapping the
opportunities provided in growing regions such as South Korea and
China.
The
leading vendors in the market are -
DFS
Dufry
Lotte
Lagardre
The
Nuance Group
Other
prominent vendors in the market include Aer Rianta International,
China Duty-free Group, Dubai Duty-free, Duty-free Americas, Gebr.
Heinemann, James Richardson, King Power International, and The Shilla
Duty-free.
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