Summary
This report provides an overview of the Impact of COVID-19 on the global duty free retailing which includes key trends, retailer reactions and post COVID-19 outlook.
The global duty-free market is expected to reach US$90.9 billion in 2023 (0.4% of total retail), growing at a CAGR of 8.7% during 2018-2023.
Scope
Reasons to Buy
This report provides an overview of the Impact of COVID-19 on the global duty free retailing which includes key trends, retailer reactions and post COVID-19 outlook.
The global duty-free market is expected to reach US$90.9 billion in 2023 (0.4% of total retail), growing at a CAGR of 8.7% during 2018-2023.
Scope
- Travel bans and strict quarantine measures will deter non-essential travel, decimating the duty-free industry
- Duty-free sales are not expected to tie back to pre-crisis forecasts for at least five years
- US$19.9bn of spend lost in South Korea and China in 2020 accounts for more than the total decline in Europe and Americas combined, highlighting the channel’s reliance on a few key markets
- Travel restrictions and low consumer confidence in traveling will have a lasting impact on the global duty-free market
- Authorities in Asia support duty-free operators through this period of weak traffic and demand
- Retailers are devising strategies to stay relevant during the crisis
Reasons to Buy
- Gain a comprehensive view of the Global Duty Free market and forecasts to 2024
- Explore new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of COVID-19 on the Global Duty Free market.
- Investigate current and forecast trends in Apparel to identify the opportunities offering the most potential
- Understand who the main competitors are in the market and their price positioning
- Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behaviour
Table of Contents
- Executive Summary
- Impact of COVID-19 on duty-free market and forecast
- Headlines and Trends
- Retailer reactions
- International tourist arrival statistics by country post COVID-19
- Upcoming projects: Post COVID-19 pandemic outlook
- Contact
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Lotte Duty Free
- China Duty Free
- Shilla Duty Free
- DUFRY
- DFS
- King Power
- Shinsegae DF
