The Report “Middle East Airport Retailing Market by Category (Liquor & Tobacco, Perfumes & Cosmetics, Fashion & Accessories, Food & Confectionery), By Type, By Airport Size (Large Airport, Medium Airport & Small Airport), By Geography Analysis & Forecast to 2020”, is estimated to reach $5.65 billion in 2020, at a CAGR of 6.7%, from 2015 and 2020.
Browse through the TOC of the Middle East Airport Retailing Market for an analysis of industry trends and segments, with the help of various tables and figures.
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The rapid change in consumer habits, retail landscapes, and buying behavior have given rise to the concept of airport retailing. The airport retailing business refers to the retail business activities at an airport, excluding activities that are related to air travel operations. It includes retail trade, catering, shopping, dining, and advertising. The air transport industry is constantly evolving with a growing emphasis on airport retailing.
In recent years, the rise in tourism, investments in general improvement and renovation of airports, and substantial changes in customer experience management have stimulated the growth of the airport retailing market in Europe. Furthermore, the increased number of international passengers at airport terminals, affordable airline prices, and global rise of disposable income has given plenty of prospects to the duty-free and duty-paid shops to exploit the available opportunities.
Airports, along with the retail companies in the Middle East region, have developed several customer centric marketing programs to stimulate duty-free retail sales and enhance product visibility. They offer products at affordable prices, promote the concept of time-saving shopping, and provide various incentive plans, wherein passengers can avail exclusive offers and deals. Expenditure on digital advertising is also increasing. To attract a large customer base, retail companies are also focusing on eliminating challenges faced by passengers while shopping. The major concern among passengers is the availability of time for shopping in the midst of switching flights or missing essential flight updates while wending through shopping areas. To tackle this situation, shop owners at airports have installed flight update screens inside the shops. Furthermore, the focus is on diversifying retail offerings, formulating various promotional activities, and organizing events to boost duty-free retail sales.
MicroMarketMonitor broadly segments the Middle East airport retailing market by category into liquor & tobacco, perfumes & cosmetics, fashion & accessories, food & confectionery, and others; by type into direct retailer, department store, specialty retailer, and supermarket; by airport size into large, medium, and small; and by geography into United Arab Emirates, Kingdom of Saudi Arabia, Qatar, Bahrain, and Rest of Middle East.
Various advanced technologies, such as installation of digital signage at Dubai International Airport, introducing digital platforms duty-free shopping apps (to utilize free time at the airports); growth in number of international passengers; and renovation of airports are driving the growth of airport retailing market. In Middle East countries, retail promotions, product at low prices, and heavy investments in airport developments are driving the market for airport retailing.
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