Duty Free Retailing market to represent a significant expansion at 8.44% CAGR during 2019-2027 scrutinized in new research

Duty-free retailing offers products to international travelers. Thus is a substantial source of income and Duty-free retailing offers products to international travelers. Thus is a substantial source of income and offers numerous marketing opportunities. The growth of the travel & tourism industry is one of the key factors bolstering the growth of the duty-free retailing market. Duty-free retailing offers temporary spaces that provide extra time to travelers after security check-in and enable them to get indulgent with the ambiance as well as the experience of shopping for international duty-free products.

Duty-free retailing is also a category covered in the ancillary services offered by the airlines. For certain LCCs, the increase in the magnitude and scope of ancillary revenues has become an essential part of their operations. The increase in ancillary revenues helps them to offer economical fare. However, the sales generated from onboard duty-free retailing accounts for the lowest market share.

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Report Objectives:

o Analyzing the size of the global Duty Free Retailing Market on the basis of value and volume.
o Accurately calculating the market shares, consumption, and other vital factors of different segments of the global Duty Free Retailing Market.
o Exploring the key dynamics of the global Duty Free Retailing Market.
o Highlighting important trends of the global Duty Free Retailing- Market in terms of production, revenue, and sales.
o Deeply profiling top players of the global Duty Free Retailing Market and showing how they compete in the industry.
o Studying manufacturing processes and costs, product pricing, and various trends related to them.
o Showing the performance of different regions and countries in the global Duty Free Retailing Market.
o Forecasting the market size and share of all segments, regions, and the global market.

The opportunity to purchase the products at a much lesser cost is catalyzing the trend, which is impacting positively on the growth of the duty-free retailing market. Additionally, airlines always lookout for impressive services to enhance passenger flying experience, and onboard shopping and pre-boarding shopping is one of the new services rolled out by airlines, which is, in turn, driving the growth of the duty free retailing market. Furthermore, the airport duty-free retailing facility offers a pre-booking of duty-free products, which allows the customers to choose the product delivery at the airport or on-board. This facility allows passengers to carry less luggage, which further reduces the risk of incurring excess baggage fees.

Duty Free Retailing Market Companies Mentioned:
Aer Rianta International (ARI), China Duty Free Group Co.,Ltd., Dubai Duty Free, Duty Free Americas, Gebr. Heinemann, King Power International Group, Lotte Duty Free, Shinsegae Duty Free, The Shilla Duty Free, LVMH, LAGARD?RE TRAVEL RETAIL, Hyundai Duty Free, DUFRY AG

The market is continuously witnessing a positive growth curve. Duty-free retailers are exempted from individual local and national taxes and duties because they sell goods to international travelers. However, taxes may be imposed on such products once the buyer reaches their country or when the value or quantity of those goods exceeds certain limits. Such retailers operate at international airports, train stations, border towns, seaports, and onboard aircraft and ships. The retailers offer a wide range of product types ranging from perfumes, chocolates, electronics, cosmetics and alcohol to cigarettes, and accessories.

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The report segments the global duty free retailing market as follows:

Global Duty Free Retailing Market - By Product Type

o Cosmetics and Personal Care Products
o Alcohol
o Wine and Spirits
o Tobacco and Cigarettes
o Fashion
o Confectionery and Food Stuff
o Other

Global Duty Free Retailing Market - By Application

o Airports
o On-board Aircraft
o Seaports
o Others

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This release was published on openPR.