After facing the most severe challenge in its history, the travel retail industry is close to regaining its pre-pandemic size. Growth has returned in all regions, notably in Asia Pacific. But average spend is showing a significant decline. Why is this, and what can be done to rectify the situation?
This latest addition to the TFWA Insight series of market reports is entitled Travel retail faces its moment of truth: strategies to reinvigorate the marketplace, and has been compiled by the global consultancy Kearney. In producing the report Kearney surveyed 3,500 travellers across 10 key nationalities, and also conducted personal interviews with over 40 senior executives from across the duty free & travel retail industry.
The resulting report contains a wealth of insights into ways in which travel retail’s value proposition can be reinvigorated, focusing on the key areas of assortment, price, service and experience. It also looks at the need for increased collaboration between stakeholders, moving beyond the “trinity” to include meaningful partnerships with airlines, digital & media partners and travel agencies.
The Kearney report is available for TFWA members to download free of charge, as part of their membership package. Click on the link below to access your copy.
TFWA members can hear highlights of the Kearney report at the TFWA Airport Forum workshop during TFWA World Exhibition & Conference in Cannes, on Tuesday October 3 (8 – 9am, Hotel Majestic). Please email us to book your place.
You have to log in with your TFWA 365 account ID to view restricted contents.