Duty Free Retail Market 2021 Growth, Trends, Leading Players and Business Insights Forecast to 2031 | DFS Group, Dufry, LS travel retail, Lotte Duty Free

New York, According to a new market research report published by Global Insight Services Duty Free Retail Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Duty free retail is a type of store where customers can purchase items without having to pay taxes or import duties. These stores are typically found in airports, but they can also be found in other locations such as border crossings and cruise ship terminals.

Duty free stores offer a wide variety of products, including cosmetics, fragrances, alcohol, tobacco, and confectionery. Many stores also sell electronics, jewelry, and other luxury items. Prices at duty free stores are typically lower than those at regular retail stores because the taxes and duties are not added to the price of the products.

Read more about Duty Free Retail Market here : https://www.globalinsightservices.com/reports/duty-free-retail-market

Key Trends

There are several key trends in Duty Free Retail technology. First, retailers are increasingly using data analytics to understand customer behavior and preferences. This information is then used to improve the customer experience by tailoring promotions and product offerings. Additionally, retailers are investing in mobile technologies to provide a more convenient shopping experience for customers. This includes developing mobile apps and using mobile payments. Finally, retailers are also looking to adopt new technologies such as virtual reality and artificial intelligence to create unique customer experiences.

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Key Drivers

The key drivers of the duty free retail market are the same as the key drivers of the retail market in general: location, price, selection, and customer service.

Location is important because it determines who has access to the duty free store. Price is important because it affects how much people are willing to spend on duty free items. Selection is important because it affects what people are able to buy. And customer service is important because it affects how satisfied people are with their purchase.

The duty free retail market is also affected by global events. For example, when there is a terrorist attack in a major city, people are less likely to travel and shop at duty free stores in that city. Or when there is a major sporting event taking place in a country, people from all over the world may travel to that country to watch the event, and they may also visit duty free stores while they are there.

Market Segments

The Duty Free Retail Market is segmented on the basis of product, channel, and region. By product, the market is divided into perfumes & cosmetics, wine & spirits, electronics, luxury goods, food & confectionery, and others. By channel, the market is classified into airports, cruise liners, railway stations, and others. Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Duty Free Retail Market report includes players such as DFS Group, Dufry, LS travel retail, Lotte Duty Free, King Power International Group, The Shilla Duty Free, Gebr, Heinemann, China Duty Free Group (CDFG), and The Naunace Group.

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Reasons to buy Duty Free Retail Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.