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Impact of COVID-19 on the Global Duty-Free Market - Coronavirus (COVID-19) Hot Topic

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    Report

  • 31 Pages
  • August 2020
  • Region: Global
  • GlobalData
  • ID: 5141887
1h Free Analyst Time
1h Free Analyst Time

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FEATURED COMPANIES

  • China Duty Free
  • DFS
  • DUFRY
  • King Power
  • Lotte Duty Free
  • Shilla Duty Free
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

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
  • 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

FEATURED COMPANIES

  • China Duty Free
  • DFS
  • DUFRY
  • King Power
  • Lotte Duty Free
  • Shilla Duty Free
  • 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

A selection of companies mentioned in this report includes:

  • Lotte Duty Free
  • China Duty Free
  • Shilla Duty Free
  • DUFRY
  • DFS
  • King Power
  • Shinsegae DF