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Duty Free Retailing market Estimates Exhibiting Stunning Stability In Key Enterprise Segments By 2028 | Dufry AG, LOTTE Duty Free Company,

10-27-2021 08:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent market insights

Duty Free Retailing  market

Duty Free Retailing market

Duty free retailing is purchasing of products at shops present at airports, cruise, and ferries where no tax is levied on the purchased products. To avoid fees/taxes at international borders, customers tend to make purchases at duty free stores. Various products including perfumes, cosmetics & personal care products, food & beverages, electronic items, and fashion & accessories are made available at these stores.

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

Airport sales channel segment held significant market share in global duty free retailing market in 2018. Duty free shops are major revenue sources for airports. Key players in the market are focused on investing in airport shops, which in turn supports growth of the segment. For instance, in February 2019, Duty Free America (DFA) announced its plans to begin an ambitious program of store investment at Miami International Airport that will run throughout 2019.

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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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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