LONDON–(BUSINESS WIRE)–According to the latest assay abstraction appear by Technavio, the all-around duty-free bartering bazaar is accepted to ability aing to USD 98 billion in acquirement by 2019.
This assay address blue-blooded ‘Global Duty-Free Bartering Bazaar 2015-2019’ provides an all-embracing assay of bazaar advance in agreement of acquirement and arising bazaar trends. This bazaar assay address additionally includes up to date assay and forecasts for assorted bazaar segments and all arch regions.
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“The amplification of bargain airlines in the aerodynamics industry is alluring abounding travelers attractive for bargain tourism activities. Some of the accepted bargain airlines in the apple are AirTran, EasyJet, German Wings, and Thai Air Asia. With abounding common travelers demography off on bargain holidays, the trend has accordingly helped the APAC and the Middle East appear as the fastest growing regions for the assignment chargeless bartering market. Africa recorded aing to 56 actor travelers in 2014 and the advance of this bazaar is additionally advancing to ammunition appeal for assignment chargeless articles at airports over the aing four years,” said Vijay Sarathi, one of Technavio’s advance analysts for home and customer retail research.
“Countries like Armenia, Oman, Qatar, India, Sri Lanka, China, Indonesia, South Korea, and Turkey emerged as some of the best adapted bargain destinations in 2014. During the aforementioned period, it is estimated that all-embracing day-tripper arrival in APAC added to about 263 actor travelers, and it has abundantly helped the bazaar abound until 2019,” added Vijay.
All-around duty-free bartering bazaar by articles 2014
Appearance accessories and adamantine affluence
Perfume and cosmetics
Source: Technavio assay
Top three segments of the all-around assignment chargeless bartering market:
Fashion, accessories, and adamantine luxury: better articulation of the all-around assignment chargeless bartering bazaar
The fashion, accessories and adamantine affluence articulation bedeviled the bazaar with a allotment of over 32%. The bazaar admeasurement of this artefact articulation in the all-around duty-free bartering bazaar was admired at aing to USD 20.81 billion in 2014. The best in-demand articles in this class include, adored jewelry, briefcases, handbags, and shoes. Some of the added accepted brands adopted by consumers include, Michael Kors, Armani, Fossil, Gucci, and Burberry.
Technavio advisers observe, Chinese travelers accept emerged as the better consumers of affluence brands in 2015. It is estimated that, Chinese affluence shoppers accord aing to 25% of all-around acquirement for affluence retail. Best Chinese shoppers opt to biking away and bazaar at duty-free shops because the boilerplate amount of affluence brands in China is 50% college than best developed countries. This trend will acceptable abide and added augment affluence artefact sales over the aing four years.
Perfumes and cosmetics: additional better articulation for the all-around assignment chargeless bartering bazaar
The perfumes and cosmetics articulation is one of the better and the fastest growing categories in the all-around duty-free bartering market. In 2014, it had a allotment of about 29.21% out of the absolute duty-free bartering market. Increase in all-embracing travel, affluence adopted spending, and ascent disposable assets of common travelers are some of this segment.
APAC and the Middle East are the key regions for this category. Some of the top affairs brands in these regions include, Chanel, Christian Dior, Estee Lauder, and Guerlain. In 2013, L’Oréal, one of the better perfumes and cosmetics manufacturers, which had a acquirement allotment of aing to 21.5% in the perfumes and cosmetics duty-free category, created a analysis alone for duty-free stores. The aggregation declared the analysis as the sixth continent. In 2014, L’Oréal launched some acknowledged brands like Vichy and Kérastase in the duty-free retail articulation in Asia and the US. In 2014, Estee Lauder additionally took accurate accomplish to aggrandize its attendance by alms a bazaar that has all Estee Lauder affluence brands and high-touch casework in arising countries like UAE and in Detroit Metro Airport, US, a primary aperture to Asian countries. To tap the advantageous Asian, Estee Lauder has additionally launched a affairs alleged Three-Minute Beauty, which teaches travelers how to brighten the eye area. Similarly, abounding added vendors are acceptable to chase this trend and barrage initiatives that appoint with abeyant affluence artefact buyers at airports.
Wines and booze articulation of the all-around assignment chargeless bartering bazaar
Duty-free shops advice customer in affairs exceptional booze brands beyond booze and wines by alms abundant deals and believability of liquors. Johnnie Walker, Diageo’s Scotch brand, continues to be the top-selling cast for the aftermost brace of years, followed by Absolut, Jack Daniel’s, Chivas Regal, and others.
The liquor class is accepted to abound to USD 13.47 billion in 2019. Innovations in abundance layouts, able-bodied accomplished agents on liquors, and availability of bound copy offerings will abundantly abutment the advance of this market. Following this trend, in November 2014, Diageo launched Johnnie Walker Gold Label Reserve Exclusive Traveller’s Copy alone in duty-free shops. In the aforementioned year in September, Diageo appear the aperture of two Johnnie Walker House in duty-free shops in India and Taiwan. These developments abundantly drive the acceptance of this articulation and the trend is accepted to abide over the aing four years.
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Technavio is a arch all-around technology assay and advising company. The aggregation develops over 2000 pieces of assay every year, accoutrement added than 500 technologies beyond 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business assay assignments beyond the latest arch bend technologies.
Technavio analysts apply primary as able-bodied as accessory assay techniques to ascertain the admeasurement and bell-ringer mural in a ambit of markets. Analysts access advice application a aggregate of bottom-up and top-down approaches, besides application centralized bazaar clay accoutrement and proprietary databases. They approve this abstracts with the abstracts acquired from assorted bazaar participants and stakeholders beyond the amount chain, including vendors, account providers, distributors, re-sellers, and end-users.
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