WHERE RETAIL IS THRIVING: AIRPORTS

Post By: MATTHEW  JULY 23, 2019

Consider that global travel revenue, which includes duty-free sales at airports, has more than tripledsince 2000, rising to $69 billion in 2017.

Why?

• The rise of budget and low-cost airlines
• Two billion travelers flew in 2002; four billion flew in 2017
• Travelers average 56 minutes of “free time” before their flights 
• On average, 25 minutes of that time is spent shopping in duty-free stores [I find this hard to believe…how about you?]
• In the Asia-Pacific region, retails sales have averaged a 14% annual growth since 2002

Those statistics are frankly startling and are prompting big names to invest in their airport presence. (READ MORE)