Latest industry research report on Travel Retail Market. Shopping is a subsidiary of travelling, which can be a part of travelling or main objective of travelling. Tourists often look for exciting opportunities of shopping while travelling. In some tourist places, local authorities provide special shopping opportunities to tourists for shopping goods.
They provide shopping facilities to travelers at minimum rates and at specific stores. Local arts, crafts, printed materials, souvenirs, clothes, and food items are some of widely purchased goods while travelling. The shopping activity has changed vividly over decades with major importance to the tourists and more than that to the sellers.
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One of the principal individuality in this change is represented by the consumer’s behavior in leisure shopping as a response to the increase in role of leisure in general, the stressful day to day life, and the international trends in shopping, leisure, and tourism. Moreover, shopping tourism contributes significantly in overall tourism market revenue.
As the shopping tourism market gains popularity, various companies and tourism authorities establish their outlets and stores at tourist places, airports, and bus & railway stations to provide tourists special services. Duty free shops are located at various places especially for tourists to provide them certain goods excluded from some local or national taxes and excise duties.
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World travel retail market is primarily driven by various factors such as increase in medium class population, change in consumer lifestyle, and attractiveness of environment. Unawareness of customers, unorganized local markets, and threat from scams are some restraints that restrict the market growth. Strict government policies and involvement of large market players are capable of reducing the effect of these restraints. Increase in popularity of international tourism and an emerging middle class in developing markets provides lucrative opportunities for the world travel retail market.
The world travel retail market is segmented on the basis of product, retail hub and geography.
By Retail Hub
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