The trends helping create profitable travel retail companies that you should understand

In case you want to come to be successful in the travel shopping sector, then continue reading this article to get some valuable recommendations.

The retail industry has been expanding consistently over the last few years, and, with that, we are observing the increased level of popularity of travel retail. Whether for business or fun, people nowadays travel much more outside of the country. This is one of the primary factors why airports have ended up being an attractive spot for retail merchants to open stores in. Normally, tourists get to the airport a few hours ahead of time, meaning that they have a lot of time to spend before their journey- the perfect opportunity to go shopping. Business professionals such as the activist shareholder in Dufry have captured the opportunity to profit from how likely people are to go shopping when they travel. Duty free retailers offer a wide array of products and solutions, from travel essentials which one may have forgotten to take with them, to gift sets and items people could buy as a gift for someone they know. A challenge that this type of shops face, however, is that the time people can spend shopping is determined by the airport schedule- nobody will spend hours browsing through a store if they already know that their airline flight is boarding in ten minutes.

The global duty free market size keeps on growing and, thereupon, the selection customers are presented with every time they go to an international airport continues to increase. As a consequence, the space the majority of travel retail shops can access is becoming increasingly limited. The key investor in Relay has found a fix to this issue by offering travelers with a one-stop shop solution- offering a wide variety of products in one shop. A great deal of these retail travel shops are now concentrating on providing a lot more compact, travel-sized items, aware that people’s purchasing decisions can be influenced by the amount of luggage they can take on board.

Given that the travel retail market size keeps on increasing, it does not come as a very big surprise that a lot of retailers have focused on providing personalised shopping experiences even at international airports. The main investor in DFS Group have backed the company in providing travelers with a fantastic shopping service irrespective of where across the world they are. Airport shopping has become an activity tourists look ahead to, and being given a personalised, luxurious shopping services certainly can add up to their vacationing experience. Today, the largest travel retail industry players need to put a great deal of thought and consideration into how they market and promote their retail locations, in order to draw in the right type of clients at the right point in time.

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