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The number of international and domestic visitors is increasing due to the rising number of airports in Europe. The rising number of sports trips and global events such the Premier Leagues and domestic and international business and leisure trips will further result in an increased number of visitors. In this case, airport visitors are the key consumer base for duty-free products. Research analysis on the duty-free retailing market in Europe identifies that the rising number of airport visitors and international travelers will be one of the major factors that will have a positive impact on the growth of the market. During 2016, one of the most-visited regions across the globe was Europe, whereas, the most-visited country was France. At present, airports account for a larger fraction of duty-free sales. As a result, the duty-free retailing market will continue to witness growth in Europe for the next four years. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.
A large number of duty-free retailing markets of different European countries are emerging as shopping destination with duty free shop. One of the largest luxury brand owner and the leading retailers in the market named LVMH, generates a huge revenue from its duty-free business. Similarly, one of the well-known luxury brands in France, Hermès, is showcasing its retail design concept and travel retail business by optimizing and expanding a network of boutiques in airports. As a result, one of the key trends that will stimulate growth in the duty-free retailing market in Europe throughout the predicted period is the entry of global brands in European market.
The duty-free retailing market in Europe offers retailers the space to explore potential growth opportunities in Europe. The markets are rapidly growing in European countries such as the UK, Germany, France, and Spain and have a high population of millennials with high awareness of duty-free retail products. The increased popularity of duty-free shops in Europe will drive the market growth.
Key vendors in this market are -
Other prominent vendors in the market include China Duty-free Group, Dubai Duty-free, Duty-free Americas, Gebr. Heinemann, JR/Group (James Richardson), King Power International, and THE SHILLA DUTY-FREE.
During 2016, the fashion, accessories and hard luxury segment accounted for the major shares of the duty-free retailing market in Europe. Factors such as the rising influence of the fashion industry on the purchase decisions and growing disposable incomes will contribute to the growth of this industry segment in the coming years.
According to this market research report, airports will account for the maximum share of the duty-free retailing market in Europe until 2021. The increase in non-aeronautical revenue and more allocated space for the development of duty-free outlets in airports will drive the market growth.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: FIVE FORCES ANALYSIS
PART 07: MARKET SEGMENTATION BY PRODUCT
PART 08: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
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