Travel retail is becoming an exceptionally profitable sector- if you want to find out how to generate revenue in the sector, continue reading.
Provided that the travel retail market size keeps on increasing, it doesn't come as a very big surprise that many retailers have concentrated on providing individualised shopping experiences even at international airports. The main investor in DFS Group have supported the company in providing travelers with a great shopping service regardless of where across the world they are. Airport shopping has come to be an activity tourists look forward to, and being given a personalised, luxury shopping services definitely can add up to their traveling experience. Today, the biggest travel retail industry players need to put a lot of attention and consideration into how they market and promote their retail locations, to attract the right type of consumers at the right point in time.
The retail sector has been growing continuously over the last few years, and, with that, we're observing the increased level of popularity of travel retail. Whether for business or fun, people these days travel a lot more outside of the country. This is one of the primary reasons why large airports have become an attractive place for retailers to open stores in. Normally, tourists get to the airport a few hours ahead of time, which means that they have a lot of time to spend before their flight- the perfect chance to go shopping. Business professionals such as the activist shareholder in Dufry have seized the opportunity to profit from how inclined people are to shop when they journey abroad. Duty free retailers provide a wide variety of products and solutions, from travel basics which one might have forgotten to take with them, to gift sets and merchandise people could buy as a gift for someone they know. A challenge that this type of stores face, however, is that the time people can spend store shopping is dictated by the airport timetable- nobody is going to spend hours browsing through a shop if they already know that their flight is boarding in ten minutes.
The global duty free market size continues growing and, thereupon, the choice customers are presented with every time they go to an international airport continues to increase. As a result, the space the majority of travel retail stores can access is coming to be increasingly limited. The key investor in Relay has found a solution to this issue by providing travelers with a one-stop shop solution- offering a wide range of products in one shop. A great deal of these retail travel shops are currently focusing on offering much more compact, travel-sized products, conscious that people’s purchasing decisions can be influenced by the amount of luggage they can take on board.