Learn what's the latest in the fied of travel retailing and how you can build revenue in the field

Travel retail is coming to be an extremely profitable field- if you want to find out how to generate revenue in the sector, continue reading.

The retail industry has been growing consistently over the past few decades, and, with that, we're noticing the increased level of popularity of travel retail. Be it for business or fun, men and women these days travel much more outside the country. This is one of the primary factors why large airports have ended up being an attractive spot for retailers to open stores in. Usually, travelers get to the airport a few hours in advance, which means that they have a bunch of time to kill before their flight- the perfect chance to go shopping. Business people such as the activist shareholder in Dufry have captured the opportunity to profit from how likely individuals are to go shopping when they journey abroad. Duty free retailers provide a wide variety of products, from travel essentials which one might have forgotten to bring with them, to gift sets and items travelers could buy as a gift for someone 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 schedule- no one will commit hours browsing in a shop if they already know that their flight is boarding in ten minutes.

Given that the travel retail market size keeps on growing, it does not come as a very big surprise that many retail merchants have focused on providing personalised shopping experiences even at international airports. The main investor in DFS Group have backed the brand in providing travelers with a great shopping experience irrespective of where across the world they are. Airport shopping has come to be an activity travelers look ahead to, and being given a personalised, luxury shopping services certainly adds up to their traveling experience. Today, the biggest travel retail industry players need to put a great deal of thought and consideration into how they advertise and promote their retail locations, in order to attract the right type of consumers at the best point in time.

The global duty free market size keeps on growing and, thereupon, the choice customers are given every time they go to an airport continues to rise. As a result, the space most travel retail stores have access to is coming to be increasingly limited. The key investor in Relay has found a solution to this issue by offering travelers with a one-stop shop option- selling a wide range of products in one shop. A lot of these retail travel shops are currently concentrating on offering much more compact, travel-sized items, aware that people’s purchasing decisions can be impacted by the amount of luggage they can take on board.

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