In recent years, airports have witnessed significant rise in footfall due to fall in air fares and global increase in disposable income which is usually spent on international vacations. In addition, huge investments in airport redevelopments, especially on increasing retail spaces and various promotional programs run by airports and retailers to attract international travelers, are boosting revenue for airports and retailing companies. The airport duty-free market has grown as it facilitates travelers to shop at airports during waiting hours or when flights are halted for refueling.
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Nowadays, for many airports, retailing business has changed from being a sideline business to a strategic priority due to the availability of ample opportunities to boost profit and revenue. Initially, airports were not designed or constructed keeping retail spaces in mind although authorities are now focusing on enlarging the retail spaces and incorporating more retail shops while designing airports. Furthermore, airports are integrating emerging technologies in retail to improve customer shopping experience. For instance, Gatwick Airport came up with an app to make journeys more personalized and hassle-free; it also installed tablets to give a more customer-friendly experience through which the passengers can plan their onward journey and browse through the whole product portfolio.
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In recent years, duty-free shopping has gone through an evolution. Earlier, it was known for saving propositions; now it has become a luxury experience for travelers. Over time, this business has become a necessity for airports to maximize their overall revenue and profitability.
The Europe airport retailing market report covers various product categories, different types of retailers, and airport size. The market size for Europe airport retailing is calculated by summing up the market size of different segments under category, such as liquor & tobacco, perfumes & cosmetics, fashion & accessories, food & confectionery, and others. The market is also segmented on the basis of type, such as direct retailer, department store, specialty retailer, and supermarkets. Likewise, the overall market size is also derived by calculating airport retail revenue from different type of airports on the basis on size; large, medium, and small.
The major players in the Europe airport retailing market are Autogrill (Italy), Dufry (Switzerland), Gebr. Heinemann (Germany), and World Duty Free Group (Spain). This research report provides an overview, analysis, and segmentation based on various technologies, applications, regions, and verticals for Europe Airport Retailing market. Furthermore, the report gives detailed analysis on global trends and forecasts, competitive landscape, and analysis of mergers & acquisitions, joint ventures, new product launches, and expansions related to the Europe airport retailing market.
The Europe airport retailing market is estimated to be valued at $11.22 billion in 2015, and is projected to grow at a CAGR 14.4% from 2015 to 2020.
