Moreover, decline in commodity prices has helped airports and airline operators to offer low air fares resulting in more passengers traveling by air. Also, the increasing retail spaces and various promotional programs run by airports along with retailers to attract international travelers are boosting revenues and substantially increasing return on investments. The airport duty-free market has grown over the years as it encourages travelers to shop at airports during waiting hours or when flights are halted for refueling.
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Various technological developments in airport retailing would help to strengthen the relationship with customers and enhance the overall shopping experience at the airport. Retailers and airports are implementing various promotional activities such as events, marketing campaign, and offers to attract large customer base.
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In recent years, the duty-free shopping has gone through an evolution, where earlier it was known for saving proposition, it has now become a luxury experience for travelers. Over the time, this business has become a necessity for airports to maximize their overall revenue and profitability.
The North America airport retailing market report covers various product categories, different types of retailers, and airport size. On the basis of type, the market is segmented into direct retailer, department store, and specialty retailer. Based on size; the market is segmented into large, medium, and small.
The major players in the North America airport retailing market are Dufry, Gebr. Heinemann, World Duty Free Group, and Duty Free Americas. Furthermore, the report gives detailed analysis on global trends and forecasts, competitive landscape, and analysis on Venture Capital and Mergers & Acquisitions related to North America Airport Retailing market.
In terms of regional adoption, the U.S. is expected to contribute the largest market share, followed by Canada. The North America airport retailing market is estimated to be USD 4.15 billion in 2015, and is projected to grow at a CAGR 19.0% from 2015 to 2020.
