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Duty-Free Retailing Market Size, Share , Latest Trends, Key Players And Forecast To 2033
Duty-Free Retailing Market
As per the report, the duty-free retailing market size has grown strongly in recent years. It will grow from $37.09 billion in 2023 to $40.32 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The duty-free retailing market size is expected to see strong growth in the next few years. It will grow to $56.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
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What Is Driving The Growth Of The Global Duty-Free Retailing Market?
Surge In International Travel Drives Growth In Duty-Free Retailing Market
The surge in the international travel and tourism industry is expected to propel the growth of the duty-free retailing market going forward. The international travel and tourism industry is growing due to increased global connectivity, rising disposable incomes, and a growing desire for unique travel experiences. Duty-free retailing leverages international travel and tourism by offering tax-free goods at airports and border locations, attracting travelers seeking lower prices.
What Is The Key Trend In The Global Duty-Free Retailing Market?
Integration Of Advanced Technologies In Duty-Free Retailing
Major companies operating in the duty-free retailing market are investing in advanced technologies such as seamless entry and exit systems in their stores to stay ahead of the competition. These systems allow customers to enter, shop, and leave without needing to go through manual checkouts. The technology utilizes sensors, cameras, and AI to track items and automatically process payments, making the shopping experience more convenient and efficient.
How Is The Global Duty-Free Retailing Market Segmented?
The duty-free retailing market covered in this report is segmented -
1) By Product Type: Perfume And Cosmetics, Electronics, Wine And Spirits, Food, Confectionery And Catering, Tobacco, Luxury Goods, Other Types
2) By Ownership: Corporate Chains, Independent Owners, Franchises
3) By Sales Channel: Airports, Cruise Liners, Railway Stations, Border, Down-Town And Hotel Shop
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How Is The Competitive Landscape Of The Global Duty-Free Retailing Market?
Major companies operating in the duty-free retailing market are Qatar Airways, Lotte Corp., Lagardere SA, Avolta AG, SHINSEGAE INTERNATIONAL, China International Travel Service Co. LTD., Hyundai Department Store Group Co. Ltd., Gebr. Heinemann SE and Co. KG, Dubai Duty-Free, James Richardson Group, Duty-Free Americas Inc., DFS Group Ltd., Japan Airport Terminal Co. Ltd., Changi Airport Group Singapore Pte. Ltd., Duty Free Philippines Corp., 3Sixty Duty Free, Ever Rich Duty Free Shop, Flemingo International, King Power Group, Delhi Duty-Free Services Pvt. Ltd., Mumbai Duty-Free, The Shilla Duty free
Contents Of The Global Duty-Free Retailing Market
1. Executive Summary
2. Duty-Free Retailing Market Report Structure
3. Duty-Free Retailing Market Trends And Strategies
4. Duty-Free Retailing Market - Macro Economic Scenario
5. Duty-Free Retailing Market Size And Growth
…..
27. Duty-Free Retailing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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