Duty Free And Travel Retail Companies (2024 - 2029)

Duty Free And Travel Retail Market Companies Summary

The global duty-free and travel retail market is seeing growth due to the increasing popularity of the travel and tourism sector. Companies in this sector are capitalizing on the trend of digitizing the retail process, allowing businesses to maximize their earnings. The market is also benefiting from the rising demand for retail chains that offer luxury and premium brands. The increase in airport visitation worldwide is also contributing to the growth of this market, with increased domestic and international business and sports travel driving the size of the duty-free shopping market. The COVID-19 pandemic caused a shift in consumer purchasing behavior from physical to online retailers. As a result, key players in the global duty-free retailing industry have developed websites offering customers a hassle-free shopping experience. Technological integration has also facilitated the tracking of human behavior online and offline with more complex analytics and customization. Furthermore, the rise in contactless purchasing experiences with an emphasis on zero-waste production and sustainable consumption practices is predicted to create significant opportunities in the e-commerce travel retail sector.