Press release
Duty Free Retailing Market | Dufry AG, LOTTE Duty Free Company, DFS Group Limited, Gebr. Heinemann SE & Co. KG
Duty Free Retailing Market
Fragrances & cosmetics segment is expected to show a significant growth in global duty free retailing market over the forecast period (2019-2027). Fragrances & cosmetic segment includes duty free perfumes, scents, and beauty, & personal care products. Companies are focusing on starting multi-brand cosmetics stores to offer a wide range of products to tourists. For instance, in March 2019, China Duty Free Group (CDFG) announced to open an exclusive perfumes and cosmetics multi-brand store in the new extension of Citygate Outlets in Tung Chung.
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Detailed Segmentation:
Global Duty Free Retailing Market, By Product Type:
Fragrances & Cosmetics
Wines & Spirits
Fashion & Accessories
Tobacco
Watches & Jewelry
Confectionary & Fine Foods
Electronics, Gifts, & Others
Global Duty Free Retailing Market, By Sales Channels:
Airport Shops
Ferries
Airlines
Others
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Asia Pacific held the largest market share in the global duty free retailing market in 2018 and is expected to be dominant in the forecast period, owing to introduction of convenient shops and increasing passenger traffic in the region. According to Airports Council International, Beijing Airport surpassed 100 million passengers in 2018, at a growing rate of 5.4% from 2017.
Furthermore, various key players are focused towards enhancing their product portfolio, For instance, in 2015, Dufry AG acquired 50.1% stake in World Duty Free S.p.A, an Italy-based multinational travel retailer. The acquisition is expected to help Dufry AG to expand its product portfolio and further increase its global presence
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