The trends helping create profitable travel retail companies that you should understand

If you are on the lookout for some more inspiration on how best to start a travel retail business, then this post will offer you with some helpful recommendations and advice.

The global duty free market size keeps on growing and, thereupon, the choice consumers are presented with every time they go to an airport is constantly on the increase. As a result, the space most travel retail stores can access is becoming increasingly limited. The key investor in Relay has found a solution to this issue by providing travelers with a one-stop shop solution- selling a wide range of products in one store. A great deal of these retail travel stores are now concentrating on offering much more compact, travel-sized products, aware that people’s buying decisions can be impacted by the amount of luggage they can take on board.

The retail industry has been growing continuously over the last few years, and, with that, we are observing the increased level of popularity of travel retail. Whether for business or pleasure, men and women these days travel a lot more outside of the country. This is one of the primary factors why airports have become an appealing place for retailers to open stores in. Normally, tourists get to the airport a couple of hours in advance, which means that they have a bunch of time to spend before their flight- the perfect chance to go shopping. Business professionals like the activist shareholder in Dufry have captured the chance to profit from how inclined people are to shop when they journey abroad. Duty free retailers provide a wide array of products, from travel basics which one might have forgotten to take with them, to gift sets and merchandise people could purchase as a present for somebody they know. An obstacle that this type of shops face, however, is that the time people can spend shopping is determined by the airport schedule- nobody is going to commit hours browsing through a store if they know that their airline flight is boarding in several minutes.

Given that the travel retail market size keeps on increasing, it does not come as a very big surprise that a lot of retailers have concentrated on offering individualised shopping experiences even at international airports. The main investor in DFS Group have supported the brand in providing travelers with a great shopping experience regardless of where in the world they are. Airport shopping has become an activity tourists look ahead to, and being given a personalised, luxurious shopping assistance definitely adds up to their traveling experience. Nowadays, the biggest travel retail industry players have to put a lot of thought and consideration into how they market and promote their retail locations, in order to attract the right type of clients at the right point in time.

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