Trends in Duty Free Retailing
Global duty free sales are projected to register a CAGR of 7.1% over the next five years to reach US$75.4 billion by 2022. A pick up in global tourism, an increased number of outbound trips by the Chinese, greater availability of affordable travel options, and the ensuing rise in consumer affluence in the APAC region are all projected to support sales growth over that period.
- Revival of global tourism and improved access of duty free goods will drive sales growth
- Dominated by South Korea and China, APAC is the largest duty free market in the world
- The APAC region surpasses the global average, with Europe set to register low growth
- Cosmetics & toiletries is the most purchased category through duty free
- Sub-channel duty free expenditure (US$ billion) and share (%) in 2017 and 2022
- Seven of the top 10 countries worldwide will be in APAC, highlighting the regions dominance.
Reasons to buy
- This report offers an analysis of trends influencing duty free retail sales. It includes strategies adopted by various retailers, insights on consumer trends, and challenges and drivers influencing performance of duty free retail stores.
Space Expansion and Optimization
Impact of Tourism
Marketing and Promotional Strategies
Favorable Federal Initiatives
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