DUBLIN--(BUSINESS WIRE)--The "Airport Retailing - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Airport Retailing was estimated at US$43.2 Billion in 2023 and is projected to reach US$68.8 Billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Airport retailing has undergone a significant transformation over the past few decades, evolving from simple duty-free shops to expansive commercial hubs offering a wide variety of products and services. Initially, airport retail was limited to basic necessities and travel-related goods. However, with the increasing number of travelers and the desire to enhance passenger experience, airports have expanded their retail offerings to include luxury brands, high-end fashion, electronics, gourmet food, and much more.
Modern airports now feature shopping malls that cater to both domestic and international passengers, providing a shopping experience comparable to high-street retail outlets. This shift has turned airports into destinations in their own right, where passengers can enjoy a diverse retail experience while waiting for their flights.
What Technologies Are Shaping the Future of Airport Retailing?
Technological advancements are playing a crucial role in shaping the future of airport retailing. Digital transformation initiatives have introduced a range of innovative technologies aimed at enhancing the shopping experience for passengers. For instance, augmented reality (AR) and virtual reality (VR) are being used to create immersive shopping experiences, allowing travelers to visualize products in a virtual environment.
Mobile apps and digital kiosks enable seamless and personalized shopping, offering tailored recommendations based on passenger preferences and purchase history. Contactless payment solutions and mobile wallets have become increasingly popular, providing a convenient and secure payment method for travelers. Additionally, data analytics and AI-driven insights are helping retailers understand consumer behavior, optimize inventory management, and create targeted marketing campaigns, thereby improving overall sales and customer satisfaction.
How Do Consumer Trends Influence Airport Retailing?
Consumer trends play a significant role in shaping airport retailing strategies. Today's travelers are not only looking for convenience but also seeking unique and memorable shopping experiences. There is a growing demand for local and artisanal products, which reflect the culture and heritage of the destination.
This trend has led airports to incorporate more local brands and products into their retail mix. Moreover, the increasing focus on health and wellness has resulted in a rise in the availability of organic, vegan, and eco-friendly products. The desire for experiential retailing has also led to the introduction of interactive and engaging retail spaces, such as pop-up stores, live demonstrations, and personalized services. Additionally, sustainability is becoming a key factor, with both airports and retailers adopting eco-friendly practices and offering sustainable products to meet the expectations of environmentally conscious travelers.
What Drives Growth in the Airport Retailing Market?
The growth in the airport retailing market is driven by several factors, reflecting changes in technology, consumer behavior, and the broader travel industry. One of the primary drivers is the increase in global air travel, with more passengers passing through airports each year, leading to higher retail footfall. The adoption of advanced technologies, such as AI, AR, VR, and mobile payment solutions, enhances the shopping experience and drives consumer engagement.
The shift towards experiential and personalized retailing is attracting more passengers to airport shops, as they seek unique products and memorable experiences. Additionally, the integration of local and artisanal products expands the addressable market opportunity by appealing to travelers interested in authentic and culturally significant items. The focus on sustainability and eco-friendly products also generates demand among environmentally conscious consumers. Finally, strategic partnerships between airports and leading retail brands strengthen the business case for expanding and enhancing airport retail spaces, ensuring continued market growth.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Perfumes & Cosmetics segment, which is expected to reach US$25.9 Billion by 2030 with a CAGR of a 6.7%. The Liquor & Tobacco segment is also set to grow at 6.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $11.4 Billion in 2023, and China, forecasted to grow at an impressive 9.4% CAGR to reach $14.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Autogrill S.p.A., Bahrain Duty Free Shop, DFS Group Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 246 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $43.2 Billion |
| Forecasted Market Value (USD) by 2030 | $68.8 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Airport Retailing - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Global Economic Update
MARKET TRENDS & DRIVERS
- Increase in Global Air Travel Spurs Growth in Airport Retail
- Adoption of Advanced Technologies Propels Innovation in Airport Retailing
- Experiential Retailing Expands Addressable Market Opportunity
- Integration of Local and Artisanal Products Throws the Spotlight on Authenticity
- Focus on Health and Wellness Generates Demand for Organic and Eco-Friendly Products
- Shift Towards Personalized Shopping Experiences Drives Adoption of AI and Data Analytics
- Contactless Payment Solutions Enhance Convenience and Security
- Pop-Up Stores and Interactive Retail Spaces Generate Interest and Engagement
- Impact of Mobile Apps and Digital Kiosks on Seamless Shopping
- Use of AR and VR Technologies to Create Immersive Retail Experiences
- Increased Focus on Cultural Heritage in Retail Products
FOCUS ON SELECT PLAYERS (Total 46 Featured)
- Autogrill S.p.A.
- Bahrain Duty Free Shop
- DFS Group Ltd.
- Dubai Duty Free
- Dufry AG
- Duty Free Americas, Inc.
- Gebr. Heinemann SE & Co. KG
- Lagardere Travel Retail
- Le Bridge Duty Free (Moldova)
- Przedsibiorstwo Handlu Zagranicznego Baltona S.A.
- Regstaer
For more information about this report visit https://www.researchandmarkets.com/r/we136q
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