Airport Retailing Market Demand Will Reach a Value of $40,592.8 Million by the End of 2027, with 12.6% Annual Growth

Allied Market Research published a new report, titled, "Airport Retailing Market by Product Type, Airport Size, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2027". The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter's Five Forces, and competitive scenario. 𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐢𝐫𝐩𝐨𝐫𝐭 𝐫𝐞𝐭𝐚𝐢𝐥𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐𝟕,𝟓𝟓𝟐.𝟖 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟏𝟗, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐠𝐫𝐨𝐰 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟐.𝟔% 𝐝𝐮𝐫𝐢𝐧𝐠 𝟐𝟎𝟐𝟏-𝟐𝟎𝟐𝟕 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 𝟒𝟎,𝟓𝟗𝟐.𝟖 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟕.

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Airport retailing has grown in popularity in recent years. Often referred to as travel retail (because it takes place mostly but not entirely in an airport), it has emerged as an important strategy for companies looking to promote and raise awareness about their brand. Airports with low airfares are unable to generate significant revenue from aeronautical business. As a result, they have transitioned their business into non-aeronautical businesses such as retail stores, restaurants, bars, and cafeterias. Airport retailing can also include hotels, nursing homes, car rental outlets, banks, exchange offices, drugstores, and other stores selling jewelry, books and magazines, gifts and crafts, clothing and accessories, convenience stores, optics, Fragrance and Perfume.

Rise in inclination of people toward unique and exotic holiday experiences, surge in the income of middle- & upper-class people, and growing interest of people to spend more money on shopping fuel the growth of the global airport retailing market. On the other hand, stringent government regulations impede the growth to some extent. Nevertheless, upsurge in the tourism sector, affordable airfares, increased airport investment to expand retail spaces, and the introduction of new terminals are expected to create lucrative opportunities in the industry.

Based on product type, the perfumes and cosmetics segment accounted for nearly two-fifths of the global airport retailing market share in 2019, and is expected to rule the roost by the end of 2027. The same segment would also register the fastest CAGR of 13.7% from 2021 to 2027. Improvement in lifestyle along with increase in affluent population drives the segment growth.

The airport retailing market is being driven by an increase in the number of passengers, particularly in countries with a high level of public transportation, such as India and China. The airport retailing market is also being boosted by travelers' desire to shop on the go and retailers' growing ability to sell products. Passengers' time spent at airports has also increased as a result of airlines' early check-in times set due to security and operational concerns. This has given retailers the ability to sell products more efficiently.

Based on airport size, the large airport segment contributed to nearly three-fifths of the global airport retailing market revenue in 2019, and is anticipated to lead the trail by 2027. Large airports are located at the capital region of countries and are popular holiday destinations. These airports have a considerable number of business class travelers who notably contribute toward the sale of products through travel retail hubs. These factors propel the segment growth.

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Region, Asia-Pacific, followed by Europe and North America, held the major share in 2019, garnering nearly two-fifths of the global airport retailing market. The same region would also cite the fastest CAGR of 13.7% from 2021 to 2027. This is due to increase in number of new air routes and the introduction of low cost carrier (LCC) in the province.

The global market is fragmented with the presence of several market participants across various regions such as 𝐀𝐢𝐫𝐩𝐨𝐫𝐭 𝐑𝐞𝐭𝐚𝐢𝐥 𝐆𝐫𝐨𝐮𝐩 𝐋𝐋𝐂, 𝐃𝐮𝐛𝐚𝐢 𝐃𝐮𝐭𝐲 𝐅𝐫𝐞𝐞, 𝐃𝐮𝐟𝐫𝐲 𝐀𝐆, 𝐃𝐅𝐒 𝐆𝐫𝐨𝐮𝐩 𝐋𝐭𝐝, 𝐊𝐢𝐧𝐠 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥, 𝐓𝐡𝐞 𝐒𝐡𝐢𝐥𝐥𝐚 𝐃𝐮𝐭𝐲 𝐅𝐫𝐞𝐞, 𝐂𝐡𝐢𝐧𝐚 𝐃𝐮𝐭𝐲 𝐅𝐫𝐞𝐞 𝐆𝐫𝐨𝐮𝐩 𝐂𝐨., 𝐋𝐭𝐝, 𝐆𝐞𝐛𝐫. 𝐇𝐞𝐢𝐧𝐞𝐦𝐚𝐧𝐧 𝐒𝐄 & 𝐂𝐨. 𝐊𝐆, 𝐉𝐚𝐩𝐚𝐧 𝐀𝐢𝐫𝐩𝐨𝐫𝐭 𝐓𝐞𝐫𝐦𝐢𝐧𝐚𝐥 𝐂𝐨., 𝐋𝐭𝐝, 𝐚𝐧𝐝 𝐅𝐥𝐞𝐦𝐢𝐧𝐠𝐨 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥.

𝐄𝐱𝐩𝐥𝐨𝐫𝐢𝐧𝐠 𝐆𝐫𝐨𝐰𝐭𝐡 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐢𝐫𝐩𝐨𝐫𝐭 𝐑𝐞𝐭𝐚𝐢𝐥𝐢𝐧𝐠:

𝐏𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐃𝐞𝐦𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐬: Understanding the demographics of airport passengers is crucial for tailoring retail offerings. For instance, airports serving primarily business travelers might prioritize luxury brands and business-oriented services, while those catering to leisure travelers may focus on convenience items and souvenirs.

𝐓𝐫𝐚𝐯𝐞𝐥 𝐏𝐚𝐭𝐭𝐞𝐫𝐧𝐬: Analyzing travel patterns helps identify peak travel times and seasons, enabling retailers to adjust their inventory and marketing strategies accordingly. For example, during holiday seasons or major events, airports may experience higher foot traffic, presenting opportunities for increased sales.

𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐁𝐞𝐡𝐚𝐯𝐢𝐨𝐫: Studying consumer behavior within airport environments can provide insights into shopping preferences, spending habits, and decision-making processes. Factors such as impulse buying, time constraints, and the desire for unique or duty-free products influence purchasing behavior.

𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐈𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧: The integration of technology, such as mobile apps, digital signage, and contactless payment systems, enhances the airport retail experience. Personalized recommendations, virtual shopping assistants, and seamless checkout processes contribute to increased sales and customer satisfaction.

𝐃𝐮𝐭𝐲-𝐅𝐫𝐞𝐞 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠: Duty-free shopping remains a significant driver of airport retail sales, particularly for international travelers. Offering a wide range of tax-free products, including alcohol, tobacco, cosmetics, and luxury goods, attracts passengers seeking savings and exclusive items.

𝐄-𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐚𝐧𝐝 𝐏𝐫𝐞-𝐨𝐫𝐝𝐞𝐫 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬: Many airports offer e-commerce platforms and pre-order services, allowing passengers to browse and purchase products online before their travels. This convenience enhances the overall shopping experience and encourages higher spending.

𝐅𝐨𝐨𝐝 𝐚𝐧𝐝 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐑𝐞𝐭𝐚𝐢𝐥𝐢𝐧𝐠: Food and beverage outlets play a crucial role in airport retailing, providing opportunities for dining, relaxation, and socializing. Diversifying offerings to include a mix of cuisines, concepts, and dining formats caters to varying passenger preferences.

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𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐅𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬:

○ The study provides an in-depth analysis of the global airport retailing market growth with current trends and future estimations to elucidate the imminent investment pockets.
○ The report provides a quantitative analysis of the airport retailing market share from 2019 to 2027 to identify the prevailing airport retailing market opportunities.
○ The report provides a quantitative analysis from 2019 to 2027, which is expected to enable the stakeholders to capitalize on prevailing airport retailing market trends.
○ In-depth analysis and the airport retailing market size and segmentation assist to determine the prevailing opportunities.
○ Competitive intelligence in airport retailing market analysis highlights the business practices followed by leading players across various regions.

𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐀𝐢𝐫𝐩𝐨𝐫𝐭 𝐑𝐞𝐭𝐚𝐢𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

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• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
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𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ Luxury Cosmetics Market is expected to garner $81,247.6 million by 2026
https://www.alliedmarketresearch.com/luxury-cosmetics-market

○ Luxury Apparels Market is projected to reach $278,181.5 million by 2031
https://www.alliedmarketresearch.com/luxury-apparels-market

○ Luxury Jewelry Market is projected to reach $40.19 billion by 2031
https://www.alliedmarketresearch.com/luxury-jewelry-market-A16918

○ Luxury Footwear Market is projected to reach $39,987.4 million by 2030
https://www.alliedmarketresearch.com/luxury-footwear-market

○ Electronic Cigarette Market is projected to reach $94,316.6 million by 2031
https://www.alliedmarketresearch.com/electronic-cigarette-market

○ Sunglasses Market is estimated to reach $18,164 million by 2027
https://www.alliedmarketresearch.com/sunglasses-market-A10356

○ Musical Instruments Market is projected to reach $11,589.8 million by 2030
https://www.alliedmarketresearch.com/musical-instrument-market-A07924

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