If you're looking for some additional inspiration on how best to start a travel retail business, then this article will provide you with some helpful suggestions and tips.
The global duty free market size continues growing and, thereupon, the selection consumers are given every time they go to an international airport is constantly on the rise. As a result, the space the majority of travel retail shops can access is coming to be increasingly limited. The key investor in Relay has found a fix to this issue by providing travelers with a one-stop shop option- selling a wide variety of products in one shop. A great deal of these retail travel shops are currently focusing on offering a lot more compact, travel-sized items, aware that people’s purchasing decisions can be impacted by the amount of luggage they are permitted to take on board.
Given that the travel retail market size keeps on growing, it doesn't come as a very big surprise that a lot of retailers have concentrated on offering individualised shopping experiences even at international airports. The main investor in DFS Group have supported the brand in providing travelers with a fantastic shopping service irrespective of where in the world they are. Airport shopping has come to be an activity travelers look forward to, and being given a personalised, luxurious shopping assistance definitely adds up to their traveling experience. Nowadays, 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 attract the right type of customers at the best point in time.
The retail sector has been expanding consistently over the last few years, and, with that, we are observing the increased level of popularity of travel retail. Be it for business or pleasure, people these days travel much more outside of the country. This is one of the primary factors why airports have become an appealing place for retailers to open stores in. Normally, tourists get to the airport a few hours in advance, which means that they have a bunch of time to spend before their flight- the perfect opportunity to go shopping. Business people like the activist shareholder in Dufry have captured the chance to profit from how likely individuals are to shop when they journey abroad. Duty free retailers provide a wide variety of products and solutions, from travel essentials which one might have forgotten to bring with them, to gift sets and merchandise travelers could buy as a present for someone they know. A challenge that this type of shops face, however, is that the time people can spend shopping is dictated by the airport timetable- nobody will spend hours browsing in a store if they already know that their flight is boarding in ten minutes.