Travel Retail Market to Expand with Significant CAGR During 2021-2031 | China Duty Free Group Co., Ltd., Dufry AG, Duty Free Americas, Inc

New York, According to a new market research report published by Global Insight Services Travel Retail Market is expected to grow 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.

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Travel retail is a type of shopping that is done by people who are travelling. This can include buying things like souvenirs, gifts, and travel essentials. It can also include buying things that are not available in the country that they are travelling to. Travel retail can be done in person at shops and stalls, or online.

Key Trends

There are a few key trends in travel retail technology:

1. Mobile commerce is on the rise. More and more consumers are using their mobile devices to book travel and make purchases while on the go. This trend is only going to continue, so businesses need to make sure their travel retail offerings are mobile-friendly.

2. Virtual reality is becoming more popular. This technology is being used more and more to give consumers a realistic preview of what their travel destination will be like. This can help them make more informed decisions about where to book their travel.

3. Augmented reality is also gaining popularity. This technology can be used to provide information about travel destinations and products in real time. This can be a valuable tool for helping consumers make decisions while they are on the go.

4. Personalization is key. Consumers want travel experiences that are tailored to their specific needs and preferences. Businesses need to be able to provide this if they want to stay competitive.

Key Drivers

The major drivers of the travel retail market are the rising number of international travelers and the growing disposable income. Moreover, the increasing number of airports and the growing number of duty-free shops are also driving the market growth.

The rising number of international travelers is one of the major drivers of the travel retail market. The rise in the number of international travelers is expected to drive the market growth as they are more likely to buy products from duty-free shops.

The growing disposable income is another major driver of the travel retail market. The growing disposable income is expected to drive the market growth as people are more likely to spend on luxury products.

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Market Segmentation

The travel retail market is segmented on the basis of product, channel, and region. By product, the market is divided into perfumes & cosmetics, wine & spirits, electronics and others. By channel, the market is classified into airports, cruise liners, railway stations, and border, downtown, & hotel shops. By region, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the world

Key Players

The key players in the travel retail market are Aer Rianta International, China Duty Free Group Co., Ltd., Dufry AG, Duty Free Americas, Inc., Gebr Heinemann SE, King Power International, Lotte Hotel, Lagardère SCA, LVMH Group and The Shilla Duty Free.

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Reasons to buy Travel 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

New Report Published by Global Insight Services : https://www.globalinsightservices.com/reports/hydrogen-projects-database/

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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.