The Future of Airport Retailing Market

Northbrook, IL, USA, 2020-Mar-19 —

According to market research report “Airport Retailing Market by Type (Direct Retailer, Department Store, Specialty Retailer, Supermarkets), Airport Size (Large, Medium, Small), Category (Liquor & Tobacco, Perfumes & Cosmetics, Fashion & Accessories) – Global Forecast to 2021″, .

The airport retailing market is estimated to grow from USD 31.79 Billion in 2016 to USD 47.81 Billion by 2021, at a CAGR of 8.5% from 2016 to 2021. Growth in the tourism industry, affordable airline prices, and the global rise of disposable incomes are some of the major factors driving this market.

The global market consists of players offering duty-free and duty paid products through different conceptual stores, namely, direct retailer, department store, specialty retailer, and supermarkets. In the market, major revenue is generated through direct retailing, which includes stores, such as Lacoste, Hugo Boss, Levi’s, among others.

The global market has been broadly categorized into five segments, namely, liquor & tobacco, perfumes & cosmetics, fashion & accessories, food & confectionery, and others.

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The specialty retailer segment is expected to grow at the highest CAGR during the forecast period

The airport retailing market, by type is segmented into direct retailer, department store, specialty retailer, and supermarkets. Specialty retailer type is expected to grow at the highest CAGR during the forecast period. These retailers offer specialized products, such as furniture, cosmetics, fabrics, among others. This segment has a prominent share in the U.S., Canada, Europe, and Asia-Pacific.

“The medium airport segment is expected to grow at the highest CAGR during the forecast period”

On the basis of airport size, the airport retailing market is segmented into large airport, medium airport, and small airport. The medium airport segment is projected to grow at the highest CAGR during the forecast period, due to an increase in passenger footfall, which leads to the expansion of cargo capacity and aircraft operation, as well as increase in retailer shops. Due to the heavy passenger traffic at large airports, passenger footfall towards medium airports is increasing globally.

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