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

  • ID: 5141887
  • Report
  • August 2020
  • Region: Global
  • 31 pages
  • GlobalData

FEATURED COMPANIES

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

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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
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • China Duty Free
  • DFS
  • DUFRY
  • King Power
  • Lotte Duty Free
  • Shilla Duty Free
  • MORE
  • 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
Note: Product cover images may vary from those shown
  • Lotte Duty Free
  • China Duty Free
  • Shilla Duty Free
  • DUFRY
  • DFS
  • King Power
  • Shinsegae DF
Note: Product cover images may vary from those shown
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