The global duty free retail market is forecast to reach US$73.6 billion (£47.7 billion) by 2019, according to research presented in The Global Duty Free Retailing market research report for 2014-2019.
The Global Duty Free Retailing Market 2014-2019 report provides a comprehensive view of the Duty Free retail landscape including thorough analysis of consumer trends, category forecasts, key innovative retailers and qualitative and quantitative insights of the changing Duty Free retail dynamics across various product segments.
Detailed analysis of the consumer trends within the duty free retail market in Americas, Europe, Asia-Pacific, Middle East and Africa by country and categories with forecasts to 2019 is also covered extensively in this research.
The report shows personal care and drinks will continue to be the categories with highest expenditure, while the Asia-Pacific region will fuel growth in the global market with sales reaching to US$37.6 billion (£24.3 billion) in 2019.
Growing low cost tourism, the expansion of space and the number of Duty Free stores in various airports, and wider brand availability will enhance channel sales.
Complete research is available at http://www.rnrmarketresearch.com/global-duty-free-retailing-2014-2019-market-dynamics-retail-trends-and-competitive-landscape-market-report.html.
In addition The Airport Retail Survey and Luxury Trends 2015-2016 Market Research report showed that overall, 60% of travellers spend 15 minutes or less per visit to a duty paid airport retail outlet.
Respondents also incurred significant expenditure on precious jewellery, briefcases, men’s bags, and handbags during their visits to airport retail outlets.