The presence of many retail services of products in the airport to provide enhanced comfort to travellers is referred to as the airport retail market. Airport shopping also has a larger selection of merchandise and is a convenient option for passengers. Hotels, nursing homes, car rental shops, banks, drugstores, and other stores such as jewellery, books and magazines, gifts and crafts, clothes & accessories, grocery stores, and perfumes are all examples of airport retailing. It has become one of the most effective tactics for businesses to encourage and increase brand awareness in airports. Airports with low-cost airline fares are unable to generate significant aeronautical revenue. As a result, shift the focus to non-aeronautical businesses such as retail stores, restaurants, bars, and cafeterias. With the rise in demand for online services, retailers and operators are expanding their e-commerce presence. They use a variety of tactics to capitalize on the rising demand for duty-free online transactions.
MARKET DYNAMICS
The growth of the airport retail market is expected to be driven by a rise in disposable income, the availability of luxury goods at reasonable prices, and an increase in the number of passengers. The airport retailing market is expected to develop significantly due to a rise in tourism, lower airfares, increased airport investment to expand retail spaces, and the development of new terminals. One of the factors driving the growth of the airport retailing market is customer preference for a luxury lifestyle. Airport retail stores are duty-free, which means they are exempt from paying national or local taxes, which increases demand for retailing stores at airports. One of the factors anticipated to drive substantial growth in the airport retailing industry is the launch of high-end airports in some countries.
MARKET SCOPE
The "Global Airport Retail Market Analysis To 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global airport retail market trend analysis. The airport retail market report aims to provide an overview of the airport retail market with detailed market segmentation by type, airport size, category, and geography. The global airport retail market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading airport retail market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global airport retail market is segmented on the basis of type, airport size and category. Based on type, the airport retail market is segmented into: direct retailer, department store, specialty retailer, supermarkets. On the basis of airport size, the airport retail market is segmented as: large airport, medium airport, small airport. On the basis of category, the airport retail market is segmented as: liquor and tobacco, perfumes and cosmetics, fashion and accessories, food and beverages, other
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global airport retail market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The airport retail market by each region is later sub-segmented by respective countries and segments. The airport retail market report covers the analysis and forecast of 17 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the airport retail market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive porter's five forcesanalysishighlighting factors affecting the airport retail market in these regions.
MARKET PLAYERS
The reports cover key developments in the airport retail market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from airport retail market are anticipated to lucrative growth opportunities in the future with the rising demand for airport retail in the global market. Below mentioned is the list of few companies engaged in the airport retail market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the airport retail market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Autogrill S.p.A.Gebr.
- Bahrain Duty Free.
- DFS Group Ltd.
- Duty Free Americas, Inc
- Heinemann SE and Co. KG
- HUGO BOSS
- Lagardere Travel Retail
- LEVI STRAUSS and CO
- Lacoste S.A.
- Le Bridge Duty Free.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.