The foreseeable future of travel retail appears promising- read this article to find out how best you can establish a successful company in the field today.
Given that the travel retail market size keeps on growing, it doesn't come as a really big surprise that a lot of retailers have focused on providing personalised shopping experiences even at airports. The main investor in DFS Group have supported the brand in providing travelers with a fantastic shopping service regardless of where across the world they are. Airport shopping has come to be an activity travelers look ahead to, and being offered a personalised, luxurious shopping services definitely can add up to their traveling experience. Nowadays, the largest travel retail industry players have to put a great deal of attention and consideration into how they market and promote their retail locations, to bring in the right type of clients at the best point in time.
The retail industry has been growing continuously over the past few years, and, with that, we're observing the increased popularity of travel retail. Be it for business or pleasure, people these days travel a lot more outside of the country. This is one of the primary factors why airports have ended up being an appealing spot for retailers to open stores in. Normally, travelers get to the airport a few hours ahead of time, meaning that they have a lot of time to kill before their journey- the ideal opportunity to shop. Business people like the activist shareholder in Dufry have seized the chance to profit from how inclined people are to shop when they travel. Duty free retailers provide a wide array of products, from travel essentials which one may have forgotten to take with them, to gift sets and items people could purchase as a gift for somebody they know. A challenge that this type of stores face, however, is that the time people can spend store shopping is dictated by the airport timetable- no one will commit hours browsing in a shop if they know that their flight is boarding in several minutes.
The global duty free market size continues growing and, with that, the choice customers are given every time they go to an international airport continues to increase. As a consequence, the space the majority of travel retail shops can access is becoming increasingly limited. The key investor in Relay has found a fix to this issue by providing travelers with a one-stop shop option- offering a wide range of products in one store. A lot of these retail travel stores are now concentrating on providing much more compact, travel-sized products, aware that people’s buying decisions can be impacted by the amount of luggage they are allowed to take on board.