Travel retail Market Pegged for Robust Expansion by 2031 | Type, Application, Scope & Key Companies

Global Travel retail report from Global Insight Services is the single authoritative source of intelligence on Travel retail market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Travel retail is a type of shopping that is done by people who are travelling. This can include buying things like souvenirs, gifts, and travel essentials. It can also include buying things that are not available in the country that they are travelling to. Travel retail can be done in person at shops and stalls, or online.

Key Trends

There are a few key trends in travel retail technology:

1. Mobile commerce is on the rise. More and more consumers are using their mobile devices to book travel and make purchases while on the go. This trend is only going to continue, so businesses need to make sure their travel retail offerings are mobile-friendly.

2. Virtual reality is becoming more popular. This technology is being used more and more to give consumers a realistic preview of what their travel destination will be like. This can help them make more informed decisions about where to book their travel.

3. Augmented reality is also gaining popularity. This technology can be used to provide information about travel destinations and products in real time. This can be a valuable tool for helping consumers make decisions while they are on the go.

4. Personalization is key. Consumers want travel experiences that are tailored to their specific needs and preferences. Businesses need to be able to provide this if they want to stay competitive.

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Market Segmentation

The travel retail market is segmented on the basis of product, channel, and region. By product, the market is divided into perfumes & cosmetics, wine & spirits, electronics and others. By channel, the market is classified into airports, cruise liners, railway stations, and border, downtown, & hotel shops. By region, the market is analyzed across North America, Europe, Asia-Pacific, and rest of the world

Key Players

The key players in the travel retail market are Aer Rianta InternationalChina Duty Free Group Co., Ltd.Dufry AGDuty Free Americas, Inc.Gebr Heinemann SEKing Power InternationalLotte HotelLagardère SCALVMH Group and The Shilla Duty Free.

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Key Drivers

The major drivers of the travel retail market are the rising number of international travelers and the growing disposable income. Moreover, the increasing number of airports and the growing number of duty-free shops are also driving the market growth.

The rising number of international travelers is one of the major drivers of the travel retail market. The rise in the number of international travelers is expected to drive the market growth as they are more likely to buy products from duty-free shops.

The growing disposable income is another major driver of the travel retail market. The growing disposable income is expected to drive the market growth as people are more likely to spend on luxury products.

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