asia pacific travel retail

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Asia-Pacific Travel Retail Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

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Report Description
Major Segmentation
Major Companies

Market Overview

The Asia-Pacific travel retail market refers to the sector of retail business that operates within airports, railway stations, cruise ships, and other transportation hubs across the Asia-Pacific region. Travel retail, also known as duty-free shopping, provides travelers with the opportunity to purchase a wide range of products including cosmetics, fragrances, alcohol, tobacco, fashion, and luxury goods, among others. These retail outlets cater to both international and domestic passengers, offering them a convenient and tax-free shopping experience.

The Asia-Pacific travel retail market holds significant importance in the retail industry, as it serves as a unique shopping channel for travelers. With the increasing number of tourists and business travelers in the region, the demand for travel retail products has witnessed substantial growth. The concept of duty-free shopping was introduced to provide travelers with a chance to purchase products at more affordable prices, as these items are exempted from certain taxes and duties.

Executive Summary

The Asia-Pacific travel retail market has experienced considerable growth in recent years, driven by factors such as rising disposable incomes, expanding tourism industry, and increasing air travel. The region boasts several major travel hubs, including Singapore Changi Airport, Tokyo Haneda Airport, and Hong Kong International Airport, which attract a significant number of travelers. The market offers a wide range of product categories, attracting diverse consumer segments.

Key Market Insights

The Asia-Pacific travel retail market has been witnessing steady growth, driven by the rising middle-class population and increasing disposable incomes in the region.
China and India are emerging as key markets in the Asia-Pacific region, owing to their large population base and growing outbound travel.
The market is characterized by intense competition among players, leading to innovations in product offerings and store formats.
Digitalization and e-commerce are playing a crucial role in transforming the travel retail landscape, with online platforms offering convenience and personalized shopping experiences.
Luxury brands are focusing on enhancing their presence in travel retail outlets, targeting affluent travelers who are willing to indulge in high-end products during their journeys.

Market Drivers

Growing tourism industry: The Asia-Pacific region is witnessing a surge in international and domestic tourism, driving the demand for travel retail products. Tourists are increasingly seeking unique shopping experiences and are willing to explore a diverse range of products during their travels.
Increasing air travel: The rising number of air passengers in the Asia-Pacific region is fueling the growth of the travel retail market. Airports are becoming key destinations for shopping, offering a wide range of products and brands to cater to the diverse preferences of travelers.
Expanding middle-class population: The expanding middle-class population in countries like China and India has resulted in higher disposable incomes, enabling more individuals to engage in travel and indulge in shopping at travel retail outlets.
Duty-free shopping benefits: The tax exemptions and duty-free prices offered by travel retail outlets attract consumers looking for better deals and discounted prices. Travelers often take advantage of the opportunity to purchase products at lower prices compared to regular retail stores.

Market Restraints

Stringent regulations and customs policies: The travel retail market is subject to various regulations and customs policies, which can pose challenges for retailers. Compliance with regulations and navigating through complex customs procedures can be time-consuming and costly.
Economic uncertainties: Economic fluctuations and uncertainties can impact consumer spending patterns, affecting the demand for travel retail products. Economic downturns or recessions can lead to reduced travel and discretionary spending by consumers.
Competition from online platforms: The increasing popularity of e-commerce platforms has presented a challenge to travel retail outlets. Online shopping provides convenience and competitive pricing, attracting consumers who prefer the ease of purchasing products from the comfort of their homes.

Market Opportunities

Growing outbound travel: The rising affluence and desire for international experiences among consumers in the Asia-Pacific region are expected to drive the growth of outbound travel. This presents an opportunity for travel retail companies to tap into the preferences and demands of outbound travelers.
Technological advancements: Embracing technological advancements can enhance the overall travel retail experience. Integration of digital technologies, such as mobile apps, augmented reality, and personalized marketing strategies, can attract and engage consumers, providing them with a unique shopping experience.
Focus on local products and cultural experiences: Offering products that showcase local culture and heritage can appeal to travelers seeking authentic experiences. Collaborations with local brands and artisans can provide a distinctive range of products, attracting consumers looking for unique souvenirs.

Market Dynamics

The Asia-Pacific travel retail market is characterized by intense competition among both global and local players. Retailers are constantly innovating their store formats, product offerings, and marketing strategies to stay ahead in the market. The rise of e-commerce has prompted travel retail companies to establish a strong online presence, enabling them to reach a wider customer base and provide a seamless omnichannel shopping experience.

Furthermore, the market dynamics are influenced by evolving consumer preferences and shopping behavior. Consumers are increasingly seeking personalized and curated shopping experiences. Retailers are leveraging data analytics and customer insights to tailor their offerings and provide targeted promotions to individual customers. The growing emphasis on sustainability and ethical practices has also influenced the market, with consumers favoring brands that align with their values.

Regional Analysis

The Asia-Pacific travel retail market is geographically diverse, encompassing countries such as China, Japan, South Korea, India, Australia, and Southeast Asian nations. China holds a significant share in the market, driven by its large population and increasing outbound travel. Japan and South Korea are also major players in the market, with their well-developed transportation hubs attracting a substantial number of travelers. Emerging economies like India and Southeast Asian countries are witnessing rapid growth in the travel retail sector due to favorable demographics and increasing tourism.

Competitive Landscape

The Asia-Pacific travel retail market is highly competitive, with a mix of global players, regional retailers, and local brands. Major international players in the market include DFS Group, Lotte Duty Free, The Shilla Duty Free, and Heinemann. These companies have established a strong presence across various travel hubs in the region and offer a wide range of products from luxury brands to local favorites.

Local brands and retailers also play a significant role in the market, catering to the preferences of domestic travelers and offering unique products that showcase local culture and heritage. Retailers are adopting strategies such as collaborations with popular brands, celebrity endorsements, and innovative store concepts to attract customers and enhance their market share.

Segmentation

The Asia-Pacific travel retail market can be segmented based on product categories, including cosmetics and fragrances, alcohol and tobacco, fashion and accessories, watches and jewelry, confectionery and fine foods, and others. These segments cater to different consumer preferences and attract diverse customer segments.

Cosmetics and fragrances form a significant segment of the travel retail market, driven by the popularity of beauty and skincare products among travelers. Luxury brands in the cosmetics and fragrances category are particularly sought after by affluent travelers looking for high-quality products.

Alcohol and tobacco products also hold a substantial market share, as travelers often take advantage of duty-free prices to purchase these items. The fashion and accessories segment offers a range of products, including clothing, footwear, and accessories from renowned international brands.

Watches and jewelry, confectionery and fine foods, and other segments provide additional options for travelers seeking luxury products, gourmet treats, and unique souvenirs.

Category-wise Insights

Cosmetics and Fragrances: The cosmetics and fragrances category holds significant growth potential in the Asia-Pacific travel retail market. The region’s consumers have a strong affinity for high-quality beauty and skincare products. International cosmetic brands, such as Estée Lauder, L’Oréal, and Shiseido, are popular choices among travelers. The category offers a wide range of products, including makeup, skincare, perfumes, and luxury beauty items. Duty-free prices and exclusive travel retail sets attract consumers looking for value deals and limited-edition products.
Alcohol and Tobacco: The alcohol and tobacco category is another key segment in the Asia-Pacific travel retail market. Travelers often take advantage of the tax exemptions and discounted prices offered at duty-free shops to purchase their favorite spirits, wines, and tobacco products. The category features a wide selection of international and local brands, catering to diverse preferences. Premium liquors, fine wines, and limited-edition tobacco products are particularly sought after by travelers seeking luxury indulgences.
Fashion and Accessories: The fashion and accessories category offers a diverse range of products, including clothing, footwear, handbags, and accessories. International fashion brands like Gucci, Louis Vuitton, and Chanel have a strong presence in travel retail outlets, attracting fashion-conscious travelers looking to upgrade their wardrobes. Duty-free shopping provides an opportunity to purchase luxury items at more affordable prices, making it an appealing segment for both leisure and business travelers.
Watches and Jewelry: The watches and jewelry category caters to travelers seeking luxury timepieces, exquisite jewelry pieces, and fashion accessories. Well-known watch brands, such as Rolex, Omega, and Tag Heuer, showcase their collections in travel retail outlets, offering exclusive designs and limited editions. The category also includes a selection of fine jewelry, including diamonds, gemstones, and designer pieces. Duty-free prices and the allure of owning prestigious brands make this segment highly attractive to affluent travelers.
Confectionery and Fine Foods: The confectionery and fine foods category appeals to travelers looking for delectable treats and gourmet souvenirs. Travel retail outlets offer a wide array of chocolates, candies, snacks, and specialty food items from renowned international brands and local producers. These products make for popular gifts and souvenirs, providing travelers with a taste of the region’s culinary delights. Duty-free pricing and exclusive gift sets further enhance the appeal of this category.
Others: The “others” category encompasses various products that add to the overall travel retail experience. This can include electronics, gadgets, travel essentials, books, and souvenirs that are unique to the destination. Travelers often seek practical items like travel adapters, headphones, and luggage, as well as destination-specific souvenirs that capture the essence of their journey. This category offers opportunities for retailers to curate a diverse range of products that cater to different customer preferences.

Key Benefits for Industry Participants and Stakeholders

Revenue Generation: The Asia-Pacific travel retail market presents a significant revenue generation opportunity for industry participants and stakeholders. The growing number of travelers, increasing disposable incomes, and favorable demographics contribute to the market’s growth potential. By capitalizing on the demand for duty-free shopping and offering attractive product selections, retailers can achieve substantial sales volumes and revenue.
Global Brand Exposure: Travel retail provides an ideal platform for global brands to gain exposure and reach a diverse customer base. By establishing a presence in major travel hubs across the Asia-Pacific region, brands can showcase their products to international travelers from various countries. This exposure can contribute to brand recognition, customer loyalty, and future sales growth.
Customer Engagement and Loyalty: Travel retail outlets offer a unique opportunity for industry participants to engage with customers directly. By providing personalized experiences, exclusive promotions, and attentive customer service, retailers can enhance customer satisfaction and loyalty. Positive shopping experiences during travelers’ journeys can leave a lasting impression, leading to repeat purchases and recommendations to others.
Collaboration and Partnerships: The travel retail market encourages collaborations and partnerships between retailers, brands, and airports or transportation operators. These collaborations can result in mutually beneficial arrangements, such as exclusive product launches, promotional campaigns, and co-branded initiatives. By leveraging these partnerships, industry participants can enhance their market position and create a distinct competitive advantage.

SWOT Analysis

Strong market potential due to the growing number of travelers and increasing disposable incomes in the Asia-Pacific region.
Diverse product categories catering to a wide range of consumer preferences.
Duty-free pricing and tax exemptions provide competitive advantages in terms of pricing and value for customers.

Weaknesses:

Stringent regulations and customs policies can pose challenges for retailers in terms of compliance and operational efficiency.
Competition from e-commerce platforms impacting footfall and sales in physical travel retail outlets.
Vulnerability to economic fluctuations and uncertainties affecting consumer spending on discretionary items.

Opportunities:

Growing outbound travel from the Asia-Pacific region presents opportunities to tap into the preferences and demands of outbound travelers.
Technological advancements and digitalization offer avenues for enhanced customer engagement and personalized shopping experiences.
Focus on local products and cultural experiences can attract travelers seeking authentic and unique products.
Intense competition among global players, regional retailers, and local brands can lead to pricing pressures and market saturation.
Changing consumer preferences and evolving shopping behavior require continuous adaptation and innovation.
Geopolitical tensions, natural disasters, and pandemics can disrupt travel patterns and impact the travel retail market.

Market Key Trends

Digital Transformation: The travel retail market is witnessing a significant shift towards digitalization. Retailers are adopting advanced technologies, such as mobile apps, online platforms, and digital marketing strategies, to provide seamless and personalized shopping experiences. Features like pre-ordering, click-and-collect, and virtual try-on options are becoming prevalent, enhancing convenience for travelers.
Focus on Sustainability: Sustainability has become a key trend in the travel retail market. Retailers are increasingly offering eco-friendly products, reducing packaging waste, and implementing sustainable practices in their operations. Consumers are showing a growing preference for brands that align with their environmental values, leading to a demand for sustainable and ethically sourced products.
Omni-channel Retailing: The integration of online and offline channels is gaining prominence in the travel retail sector. Retailers are adopting omni-channel strategies to provide a seamless shopping experience across multiple touchpoints. This includes leveraging online platforms, social media engagement, and data analytics to understand customer preferences and deliver targeted promotions.
Pop-up Stores and Limited Editions: Pop-up stores and limited-edition product launches are gaining popularity in the travel retail market. These temporary retail spaces and exclusive offerings create a sense of urgency and excitement among travelers, encouraging impulse purchases and attracting attention to the brands.

Covid-19 Impact

The Covid-19 pandemic had a profound impact on the Asia-Pacific travel retail market. Travel restrictions, lockdown measures, and reduced air travel significantly affected the industry. The number of international tourists and business travelers sharply declined, leading to a substantial drop in footfall and sales at travel retail outlets.

Retailers had to adapt to new health and safety protocols, including social distancing measures, enhanced hygiene practices, and contactless payment options. Many retailers focused on e-commerce initiatives to maintain customer engagement during travel restrictions, offering online shopping, home delivery, and virtual experiences.

The pandemic also highlighted the importance of agility and resilience in the travel retail sector. Retailers that quickly adapted their strategies, explored new revenue streams, and reassessed their product offerings were better positioned to navigate the challenging market conditions.

As travel restrictions ease and vaccination efforts progress, the Asia-Pacific travel retail market is gradually recovering. However, the industry continues to face uncertainties, and the recovery timeline will depend on factorssuch as the resurgence of COVID-19 variants, changes in travel regulations, and consumer confidence in travel.

Key Industry Developments

Shift to Contactless Shopping: In response to the pandemic, travel retail outlets have accelerated the adoption of contactless shopping solutions. This includes mobile payment options, self-checkout kiosks, and QR code-based transactions to minimize physical contact and enhance safety measures.
Focus on Health and Wellness: The pandemic has heightened consumer awareness of health and wellness. Retailers in the travel retail market are increasingly offering products that promote hygiene, immunity, and well-being. This includes hand sanitizers, face masks, vitamins, and health supplements.
Collaboration with Airlines and Hotels: To maximize customer reach and enhance the overall travel experience, travel retailers are partnering with airlines and hotels. These collaborations may involve joint marketing campaigns, loyalty program integrations, and co-branded promotions to attract travelers and create a seamless shopping journey.
Enhanced Digital Engagement: Travel retailers are investing in digital marketing strategies and social media engagement to connect with customers beyond the physical store. Virtual events, influencer collaborations, and personalized digital content are used to create brand awareness, engage with customers, and drive online and offline sales.

Analyst Suggestions

Embrace Digital Transformation: Travel retailers should prioritize digital transformation initiatives to meet evolving consumer expectations and enhance the overall shopping experience. This includes investing in e-commerce platforms, mobile apps, and data analytics to personalize offerings and engage with customers across multiple touchpoints.
Adapt to Changing Consumer Preferences: Understanding and adapting to changing consumer preferences is crucial for success in the travel retail market. Retailers should continuously monitor consumer trends, preferences, and shopping behavior to tailor their product offerings, marketing strategies, and store formats accordingly.
Foster Partnerships and Collaborations: Collaborations with airlines, hotels, and other travel-related entities can help travel retailers expand their reach and create a seamless travel experience for customers. By leveraging partnerships, retailers can offer exclusive promotions, joint loyalty programs, and cross-promotional campaigns to enhance customer engagement and drive sales.
Enhance Health and Safety Measures: Maintaining a focus on health and safety measures will remain essential even as travel restrictions ease. Travel retailers should continue to prioritize the implementation of robust hygiene practices, contactless payment options, and other safety measures to ensure customer confidence and well-being.

Future Outlook

The future of the Asia-Pacific travel retail market holds immense potential but is subject to various factors. As travel restrictions gradually ease and consumer confidence in travel returns, the market is expected to witness a steady recovery. The growing middle-class population, increasing disposable incomes, and rising outbound travel from emerging economies will continue to drive the demand for travel retail products.

Digitalization will play a crucial role in shaping the future of the market, with retailers focusing on seamless omni-channel experiences, personalized offerings, and enhanced customer engagement. Technology advancements such as artificial intelligence, augmented reality, and virtual reality are likely to further enhance the shopping experience in travel retail outlets. Sustainability will remain a key focus area, with consumers increasingly seeking eco-friendly and socially responsible products. Retailers will need to adopt sustainable practices throughout their operations and collaborate with ethical brands to meet consumer expectations.

The Asia-Pacific travel retail market plays a vital role in providing a unique shopping experience for travelers across the region. With a diverse range of product categories, duty-free pricing, and exclusive offerings, travel retail outlets cater to the preferences of both international and domestic travelers. The market has been driven by factors such as growing tourism, increasing air travel, and expanding middle-class populations.

While the COVID-19 pandemic has presented challenges to the industry, travel retailers have adapted by embracing digital transformation, enhancing health and safety measures, and focusing on customer engagement. As travel restrictions gradually ease, the market is expected to recover, supported by factors such as the growing outbound travel market, technological advancements, and a continued emphasis on sustainability. To thrive in this dynamic market, travel retailers should prioritize digitalization, adapt to changing consumer preferences, foster collaborations, and enhance health and safety measures. By staying agile, innovative, and customer-centric, industry participants can position themselves for long-term success in the Asia-Pacific travel retail market.

Asia-Pacific Travel Retail Market:

Leading companies in the Asia-Pacific Travel Retail Market:

DFS Group Ltd.
The Shilla Duty Free
Lotte Duty Free
King Power International Group
China Duty Free Group (CDFG)
Lagardère Travel Retail
Heinemann SE & Co. KG
Ever Rich Duty Free Shop
Pacific Gateway Airport Duty Free

Important Questions Covered in this Study

Which are the main companies that are currently operating within the market?
What are the factors that are predicted to propel the growth of the market?
What are the factors that are expected to limit the growth of the market?
Which company had the largest market share?
What are the main opportunities available in the market?
What are the market size and growth rates of the various segments within the market?
What are the market sizes and growth rates of the overall market or specific regions ?
Which region or segment is projected to be the primary driver of market growth during the forecast period?
What are the significant trends observed in the market?

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Asia pacific leads the travel retail market due to thriving tourism and growing number of airports.

DUBLIN , Nov. 3, 2023 /PRNewswire/ -- The "Global Travel Retail Market (by Product Type, Sale Channel, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.

The global travel retail market is poised for significant growth, with a projected value of US$75.93 billion by 2023, representing a robust compound annual growth rate ( CAGR ) of 17.37% during the forecast period from 2022 to 2027.

Travel retail refers to retail establishments primarily located in travel environments such as airports, train stations, cruise lines, and more. Recent surges in impulse purchases made while waiting for flights or trains at these travel touchpoints, especially airports, have driven the growth of the global travel retail industry. Travel shopping offers several benefits, including convenience, accessibility, a pleasant ambiance, and cost-effectiveness, attracting customers to these establishments.

Travel retail businesses are closely associated with travel environments and typically require customers to provide proof of travel to enter the commercial area, where purchases may be subject to taxes and tariffs. To entice customers, many stores and companies offer duty-free items.

Segment Coverage

By Product Type: The global travel retail market is segmented into seven product types: fragrances & cosmetics, wine & spirits, luxury goods, tobacco, food, confectionery & catering, electronics, and others. The luxury goods segment is expected to exhibit the highest growth during the forecast period. This growth can be attributed to rising disposable incomes, increased exposure to social media, urbanization, and a preference for investments in personal luxury items.

By Sale Channel: The market report categorizes the global travel retail market into four sale channels: airport, border, downtown and hotel shops, railway stations, and cruise liners. The airport segment currently holds the largest share in the travel retail market, driven by the increasing number of travelers and technological advancements at airports.

Geographic Coverage

The global market is divided into five major regions: Asia Pacific , Europe , North America , the Middle East & Africa , and Latin America . North America encompasses the US, Canada , and Mexico , while Europe includes the UK, Germany , France , Spain , and the Rest of Europe .

Additionally, South Korea , China , and the Rest of the Asia Pacific are part of the Asia Pacific region. Asia Pacific dominates the global travel retail market due to the thriving travel and tourism sector, as well as the growth of new international routes in the region. South Korea , in particular, has a flourishing duty-free market, driven by its position as one of the largest in the world and an increasing number of Chinese and Japanese visitors.

Top Impacting Factors

Growth Drivers:

Dominating Gen Z and Millennial Population: Millennials and Gen Z travelers consider travel a necessity and prioritize unique experiences over traditional luxury, driving the demand for travel retail.

Increasing Number of Airports: The growing number of airports and air travelers creates a conducive environment for travel retail businesses.

Increased Personal Luxury Goods Consumption: Rising incomes and exposure to luxury goods on social media platforms contribute to increased spending on personal luxury items.

Increased Traveling Offers: Expanding travel offers, including leisure trips and personalized experiences, boost travel retail sales.

Challenges:

Lack of Availability of Space: Limited space in travel retail stores can pose challenges in merchandising and providing a positive customer experience.

Tedious Air Travel Requirements: Stringent air travel requirements, including security checks and document verification, can deter travelers from shopping at travel retail outlets.

Involvement of Artificial Intelligence: The use of artificial intelligence enhances the travel retail experience and helps retailers tailor offerings to customer preferences.

Digitization of Travel Retail: The digital transformation of travel retail introduces new ways to engage travelers and enhance their shopping experience.

Growing Trend of Robotics in Travel Retail: The integration of robotics in travel retail operations is becoming more prevalent, offering efficiency and convenience.

Technological Advancements: Technological innovations, such as data analytics and personalized marketing, are shaping the future of airport retail.

The COVID-19 Impact

The COVID-19 pandemic had a significant impact on the travel retail market, with reduced footfall, travel restrictions, and economic challenges leading to decreased demand for travel retail products. However, as vaccination efforts progress and mobility at travel touchpoints such as airports and railway stations increases, the post-pandemic market is expected to regain momentum.

Analysis of Key Players

The travel retail market has traditionally been fragmented, with key companies focusing on analyzing consumer buying behavior and offering tailored retail products. Leading players in the market include:

Shilla Duty-Free Shop

LVMH Moet Hennessy Louis Vuitton (DFS Group)

Hotel Shilla Co., Ltd (The Shilla Duty Free)

Lagardere Group

WH Smith PLC

Shinsegae Inc (Shinsegae Duty Free)

Lotte Corporation ( Lotte Duty Free )

Dublin Airport Authority (Aer Rianta International Duty-Free LLC)

Duty Free Americas, Inc.

China International Travel Service Corporation Limited (China Duty Free Group)

Gebr. Heinemann SE & Co. KG

Harding Brothers Retail Ltd (Flemingo International Limited)

Everrich Duty Free Shop

Dubai Duty Free

The King Power International Group

For more information about this report visit https://www.researchandmarkets.com/r/ctynut

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View original content: https://www.prnewswire.com/news-releases/asia-pacific-leads-the-travel-retail-market-due-to-thriving-tourism-and-growing-number-of-airports-301977306.html

SOURCE Research and Markets

Consumer Goods and Services /
Travel and Tourism

Asia-Pacific Travel Retail Market - Growth, Trends, COVID-19 Impact and Forecasts (2021 - 2026)

October 2021
Region: Asia Pacific
Mordor Intelligence
ID: 5458854
Description

Companies Mentioned

Methodology

Key Market Trends

The wide availability of duty-free goods on e-commerce platforms is also catalyzing the market growth in the asia pacific region..

In whitepaper ‘Top 100 Retailers in Asia 2021’, Euromonitor looks at how the APAC region world-class mobile connectivity enables digital transformation and is supported by extremely tech-savvy consumer segments in the region. As the retail landscape becomes more competitive with players fighting to stay relevant in the digital space, localizing the shopping journey to individual markets and personalizing the retail experience to various customer segments in Asia Pacific will be essential. The presence of big players on e-commerce is also playing a vital role in the e-commerce growth in travel retail.

Airport Retailing is Generating Higher Revenues than other Channels in Asia-Pacific Travel Retail Market.

The travel retail market in Asia-Pacific majorly is driven by the tourism industry, as many foreign investors visit countries such as Hong Kong and Malaysia for tax-free shopping. The Airport has become thriving retail channel. Airport retailing has become an important channel for brands to promote and create awareness about products in the market. Airports are diversifying to nom- aeronautical segments such as retail, restaurant bars, cafeterias. Airport Retail and commercial services, including food and beverage, constitute a crucial business sector providing up to 60% vital commercial income for airport owners, outpacing aeronautical revenue streams. It is the most significant direct contributor to the investment in Asia-Pacific's aviation infrastructure and ongoing development of world-class national gateways, the region's hubs to the world.

Competitive Landscape

The report covers major international players operating in the Asia-PacificTravel Retail Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets. The leading brands are opening exclusive stores for special products. The companies are also promoting, differentiating and selling limited editions to increase their visibility and brand awareness in the market.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

China duty free group co., ltd.
Heinemann Asia Pacific
Lotte Duty Free
The shilla duty free
Flemingo International
James Richardson Group
The Nuance Group
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Asia Pacific Travel Retail Association: Over 320,000 Jobs in Asia Pacic at Risk in US$36bn Duty Free & Travel Retail Industry

1 April 2020

Asia Pacific Travel Retail Association: ‘Over 320,000 Jobs in Asia Pacific at Risk in US$36bn Duty Free & Travel Retail Industry’

SINGAPORE, April 1, 2020 : Over 320,000 local jobs across the Asia Pacific region and a $36bn industry are at risk of being overlooked by politicians as they devise financial rescue measures to cope with the COVID-19 crisis.

The Asia Pacific Travel Retail Association (APTRA) is calling on governments in over 45 countries across the region to support 320,000 local front-line employees in the region by including the duty free and travel retail industry in the same financial support packages as airlines, and maritime industries.

The Economic Impact of Duty Free and Travel Retail in Asia Pacic’ (October 2019), details a US$36bn industry providing 320,000 jobs,contributing almost US$15bn to GDP across Asia Pacific.

Airport Retail and commercial services, including food and beverage, constitute a crucial business sector providing up to 60% vital comm income for airport owners, outpacing aeronautical revenue streams. It is the most significant direct contributor to the investment in Asia Pacific’s aviation infrastructure and ongoing development of world-class national gateways, the region’s hubs to the world.

Grant Fleming, President of APTRA, comments. “The dynamics of duty free and travel retailing are intrinsically linked to the aviation and industries and its viability is entirely dependent on the return in passenger traffic. This means 320,000 jobs are at risk that could be safe if governments extend financial support packages to the industry.

“The travel ecosystem is multifaceted and, beyond airports, the duty free and travel retail industry integrates deeply with the region’s vita market – directly with operators such as airport retailers, airlines, cruise-lines and downtown shopping malls and also indirectly with eve from hotels to travel agents and tour guides. We are calling on over 45 governments across the region to recognize the unique economic contribution of the entire Travel Retail industry and to prioritize support packages to our channel and the many that are, and will be, affect financially by COVID-19.”

Notes: The Asia Pacific Travel Retail Association (APTRA) is a not for profit membership organisation whose mission is to strengthen, nurt protect the duty free and travel retail industry In over 45 countries in APAC, across airports, maritime, retailers, food & beverage operators consumer brands.

PDF – https://mma.prnewswire.com/media/1139893/ASIA_PACIFIC_TRAVELS_RETAIL_ASSOCIATION.pdf

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What’s the Future for Travel Retail in Asia?

In June, Gary Bowerman analysed the outlook for travel retail across Asia Pacific and beyond, as brands and retailers await the return of the region’s big spending travellers.

The Five Potential Indicators for the Future of Travel Retail commentary was commissioned by Zurich-based DKSH . It forms part of a series of 10 Asia-focused consumer, lifestyle and travel articles I will be producing throughout 2021.

Here’s the introductory section of the article:

“Experiences are more important than possessions.” This has become a mantra of Asia’s tourism industry as it seeks to understand how travel behaviors may evolve post-pandemic.

The underlying precept is that travelers may want to escape to nature, to experience freedom in serene landscapes rather than spend time shopping when travel bans are eventually lifted. Tourists radiating away from urban centers could dampen the much-hoped-for revival of travel retail spending.

Yet, predicting future trends in Asian travel is risky. Having been unable to fly beyond borders for 15 months and counting may mean that caution and safety remain paramount, at least initially. Alternatively, grounded travelers may take to the skies in large numbers as soon as the airport gates are opened.

But when travel does resume, will “revenge spend” travelers stimulate visitor economies once more? And how should businesses prepare? At the same time, has skyrocketing pandemic-era growth in eCommerce altered travel retail forever? If so, what new spending patterns could emerge?

Amid the current uncertainty, here are five factors for travel retail businesses to ponder:

1) Charting Domestic Travel Spending

Things to consider: Shifting consumer aspirations, domestic tourism patterns and purchasing triggers.

2) Watching China’s Hainan Island Experience

Things to consider: Duty-free hypermarkets, bespoke branded launches and huge volume sales.

3) Innovating in Travel Shopping

Things to consider: In-the-moment purchases, downtown duty free and ‘flights to nowhere.’

4) Making Travel Payments Seamless

Things to consider: Diversity of digital payments, e-currencies and gamified promotions.

Asia-Pacific Travel Beauty Retail Market – Industry Trends and Forecast to 2029

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Asia-Pacific
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No of Figures: 24
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Asia-Pacific Travel Beauty Retail Market, By Product (Skin Care, Fragrances, Make-up, Hair Care, and Others), Distribution Channel (Airports, Airlines, Ferries, and Other Channels), Country (Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific), Industry Trends and Forecast to 2029.

Market Analysis and Insights : Asia-Pacific Travel Retail Market

Asia-Pacific travel beauty retail market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing at a CAGR of 5.3% in the forecast period of 2022 to 2029 and is expected to reach USD 13,528,402.02 thousand by 2029. The rising popularity of travel and tourism may augment the Asia-Pacific travel beauty retail market.

Travel retail, also called duty-free, is a sales procedure comprising the commercialization of the goods relating to the various product categories. This sales channel comprises the goods that have not had the taxation and excise applied on their sale price and for sales to travelers. Travel retail is a retailing channel, providing products to international travelers. It is an important source of income and has several marketing prospects.

The rising popularity of travel and tourism and the increase in the millennial population are expected to drive the demand for the Asia-Pacific travel beauty retail market. However, stringent government guidelines towards airport retailing may further restrict the market's growth.

Several boosters, such as increasing collaborative partnership among luxurious and premium brands, may create opportunities for the Asia-Pacific travel beauty retail market. However, a lack of awareness regarding travel retail is likely to challenge the market's growth during the forecast period.

This Asia-Pacific travel beauty retail market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.

Asia-Pacific Travel Beauty Retail Market Scope and Market Size

Asia-Pacific travel beauty retail market is segmented into two notable segments, based on product and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of product, the Asia-Pacific travel beauty retail market is segmented into skin care, hair care, fragrances, make-up, and others. In 2022, the skin care segment is projected to dominate the region since skin care products use natural ingredients.
On the basis of distribution channel, the Asia-Pacific travel beauty retail market is segmented into airports, airlines, ferries, and other channels. In 2022, the airports segment is projected to dominate the region since it is convenient to travel.

Asia-Pacific Travel Beauty Retail Market Country Level Analysis

The Asia-Pacific travel beauty retail market is segmented into two notable segments, based on country, product, and distribution channel.

The countries covered in the Asia-Pacific travel beauty retail market are Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific. In 2022, China is expected to dominate the Asia-Pacific region due to increased tourism activities. India is expected to dominate as there is a high demand for perfumes.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.

Increasing Millennial Population

The Asia-Pacific travel beauty retail market also provides you with detailed market analysis for every country's growth in an installed base of different kinds of products for the market, the impact of technology using life line curves and changes in infant formula regulatory scenarios, and their impact on the market. The data is available for the historical period 2011 to 2020.

Competitive Landscape and Asia-Pacific Travel Beauty Retail Market Share Analysis

The Asia-Pacific travel beauty retail market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the company's focus related to the Asia-Pacific travel beauty retail market.

Some of the major market players operating in the Asia-Pacific travel beauty retail market are LOTTE DUTY FREE, KING POWER International, Duty Free Americas, Inc, Aer Rianta International, China Duty Free Group Co.,Ltd., DELHI DUTY FREE, THE SHILLA duty free, Lagardère Travel Retail, DFS Group Ltd, Gebr. Heinemann SE & Co. KG, Sky Connection Limited, DUFRY, Shiseido Company, Limited, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

For instance,

In August 2021, DURFY successfully extended its contract to operate the tax and duty-free store at Cardiff Airport in Wales for 12 years, following a successful partnership for the past 20 years
In January 2021, Lagardère Travel Retail announced the opening of three Aelia Duty Free stores at Jorge-Chávez international airport in Lima, Peru, with a profit-sharing agreement concluded with Lima Airport Partners (LAP) last year. These openings mark the very beginning of the Group's operations in Latin America, which will help in serving a wider consumer base

TABLE 1 IMPORT DATA OF PRODUCT: 3304 BEAUTY OR MAKE UP PREPARATION FOR THE CARE OF THE SKIN… (USD THOUSAND)

TABLE 2 EXPORT DATA OF PRODUCT: 3304 BEAUTY OR MAKE UP PREPARATION FOR THE CARE OF THE SKIN … (USD THOUSAND)

TABLE 3 ASIA PACIFIC TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 4 ASIA PACIFIC SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 5 ASIA PACIFIC SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 6 ASIA PACIFIC PERFUMES IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 7 ASIA PACIFIC MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 8 ASIA PACIFIC MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 9 ASIA PACIFIC HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 10 ASIA PACIFIC HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 11 ASIA PACIFIC HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 12 ASIA PACIFIC HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 13 ASIA PACIFIC OTHERS IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 14 ASIA PACIFIC TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 15 ASIA PACIFIC AIRPORTS IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 16 ASIA PACIFIC AIRLINES IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 17 ASIA PACIFIC FERRIES IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 18 ASIA PACIFIC OTHER CHANNELS IN TRAVEL BEAUTY RETAIL MARKET, BY REGION, 2020-2029 (USD THOUSAND)

TABLE 19 ASIA-PACIFIC TRAVEL BEAUTY RETAIL MARKET, BY COUNTRY, 2020-2029 (USD THOUSAND)

TABLE 20 ASIA-PACIFIC TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 21 ASIA-PACIFIC SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 22 ASIA-PACIFIC MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 23 ASIA-PACIFIC HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 24 ASIA-PACIFIC HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 25 ASIA-PACIFIC HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 26 ASIA-PACIFIC TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 27 CHINA TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 28 CHINA SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 29 CHINA MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 30 CHINA HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 31 CHINA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 32 CHINA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 33 CHINA TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 34 SOUTH KOREA TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 35 SOUTH KOREA SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 36 SOUTH KOREA MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 37 SOUTH KOREA HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 38 SOUTH KOREA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 39 SOUTH KOREA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 40 SOUTH KOREA TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 41 JAPAN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 42 JAPAN SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 43 JAPAN MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 44 JAPAN HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 45 JAPAN HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 46 JAPAN HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 47 JAPAN TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 48 INDIA TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 49 INDIA SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 50 INDIA MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 51 INDIA HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 52 INDIA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 53 INDIA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 54 INDIA TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 55 SINGAPORE TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 56 SINGAPORE SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 57 SINGAPORE MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 58 SINGAPORE HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 59 SINGAPORE HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 60 SINGAPORE HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 61 SINGAPORE TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 62 THAILAND TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 63 THAILAND SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 64 THAILAND MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 65 THAILAND HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 66 THAILAND HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 67 THAILAND HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 68 THAILAND TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 69 INDONESIA TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 70 INDONESIA SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 71 INDONESIA MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 72 INDONESIA HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 73 INDONESIA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 74 INDONESIA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 75 INDONESIA TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 76 AUSTRALIA & NEW ZEALAND TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 77 AUSTRALIA & NEW ZEALAND SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 78 AUSTRALIA & NEW ZEALAND MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 79 AUSTRALIA & NEW ZEALAND HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 80 AUSTRALIA & NEW ZEALAND HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 81 AUSTRALIA & NEW ZEALAND HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 82 AUSTRALIA & NEW ZEALAND TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 83 PHILIPPINES TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 84 PHILIPPINES SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 85 PHILIPPINES MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 86 PHILIPPINES HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 87 PHILIPPINES HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 88 PHILIPPINES HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 89 PHILIPPINES TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 90 MALAYSIA TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 91 MALAYSIA SKIN CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 92 MALAYSIA MAKE UP IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 93 MALAYSIA HAIR CARE IN TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

TABLE 94 MALAYSIA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY TYPE, 2020-2029 (USD THOUSAND)

TABLE 95 MALAYSIA HAIR COLOR IN TRAVEL BEAUTY RETAIL MARKET, BY HAIR TYPE, 2020-2029 (USD THOUSAND)

TABLE 96 MALAYSIA TRAVEL BEAUTY RETAIL MARKET, BY DISTRIBUTION CHANNEL, 2020-2029 (USD THOUSAND)

TABLE 97 REST OF ASIA-PACIFIC TRAVEL BEAUTY RETAIL MARKET, BY PRODUCT, 2020-2029 (USD THOUSAND)

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MARKET SIZE AND SHARE ANALYSIS – GROWTH TRENDS AND FORECAST (2024 - 2029)

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News & Analysis on Food & Beverage Development & Technology

Mixing it up: Loacker highlights multi-pack formats as key travel retail sales driver for wafers sector in APAC

20-Jun-2024 - Last updated on 20-Jun-2024 at 02:50 GMT

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Loacker has highlighted the multi-pack, single serve format as a key driver for sales of its famous wafer products in the APAC region. ©Loacker

Loacker is best-known in the APAC region for its Classic range of cream-layered wafers, and within its travel retail business the firm has seen particular demand for its new multi-pack formats, such as the Loacker Classic Minis mixes which contain 20 to 30 individually-wrapped mini crispy wafers.

“This travel pack mainly focuses on our traditional best-sellers, the hazelnut-based Napolitaner and the chocolate-based Cremkakao and is based strongly on a sharing concept as we have found that today’s consumers are not just buying Loacker as gifts but also to share at home with their families,” Loacker Global Product Manager Channel and Occasion Gaia Ferrandi told FoodNavigator-Asia at the recent Tax Free World Association (TFWA) APAC 2024 event in Singapore.

“The fact that these are all individually wrapped not only lends itself to convenient sharing, but is also instrumental in ensuring portion control, which is also something that many consumers are concerned with.

“This comes into play even more strongly when travelling consumers are buying these to consume on-the-go for self-consumption, as it means they do not need to struggle with finishing an entire wafer block in one go or deal with the mess of keeping an unfinished package.”

“The large variety is what really attracts consumers as they have the option to try more items with one purchase, and again with each being a mini version that is individually wrapped they can figure out what best suits them from coated to uncoated and the various fillings,” she added.

“We also have another reason for focusing on the variety of coated as well as uncoated here - due to the warmer temperatures here in Asia, the Classic uncoated wafers tend to do better as there is far less melting associated with them which is really important for on-the-go consumption, but there is also a level of indulgence that can only be found with the coated products, so this is a mixture where consumers can have some of both.”

APAC activity

Ferrandi also highlighted the APAC region as one of the most crucial to Loacker from a sales perspective as it is one of its most active markets.

“We see a total of 42% of our overall sales coming from the APAC region, and this continues to grow at a two-digit percentage consistently every year so it is undoubtedly one of our most active regions,” she said.

“As such it is also one of the markets where we try out the most new products and formats to see what works the best, and means that we have had a huge variety of Loacker products in the APAC market over the years.

“We have no particular target consumer demographic as our products can appeal to everyone from children to adults – what we have seen some variation in terms of appeal in is when it comes to the type of chocolate used.

“In this case, we have found that Europe markets tend to prefer dark chocolate more whereas APAC Middle Eastern ones prefer milk chocolate, so we have variants with all of these in order to cover a wider target audience.”

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A significant proportion of APAC consumers reportedly prefer dark chocolate for its less-sweet taste and higher cocoa content. ©Cargill

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TR Consumer Forum 2024: Unlocking the new Chinese travel retail shopper

By Benedict Evans | Wednesday, 19 June 2024 17:17

The first of two ‘Rising Giants’ panels took a deep-dive into the new Chinese travel retail shopper.

Following a keynote interview with Dr. Munif Mohammed, CEO of Lagardère Travel Retail KSA and Middle East, the first panel session of day three covered the ‘rising giant’ that is the Chinese travel retail shopper, where they are headed, and how GTR can innovate to influence the shopping decisions of this high priority segment.

John Rimmer, Director, JCR Consulting, moderated the session alongside panelists Peter Mohn, CEO & Owner, m1nd-set; Lilly Choi-Lee, General Manager, TravConsult; Michael Schmidt, Senior Vice President – Retail, Dubai Duty Free.

“If you think Chinese or Indian travel is only emerging, I suspect you haven’t been paying much attention,” commented Rimmer wryly, before handing over to Mohn, who walked delegates through insightful data points as to the challenging and diverse segment of Chinese travel retail shoppers.

m1nd-set data

The C hinese are one of the most diverse and challenging nationalities for those in travel retail, and we know air traffic we will take some time, with a full return to pre-covid levels by 2026, based upon the last historic data compiled in February 2024,” said Mohn, who touched upon Chinese shoppers’ favoured destinations, which largely comprised APAC and Europe.

Mohn also explored the influence of Hainan in forming traveller opinions of other experiences within travel retail, noting the likelihood of return trips to the shopping complex in Hainan were incredibly high, as it is perceived as a safe, familiar and easy destination for Chinese travellers.

“Groups with ten people or more have seen a massive decline,” noted Mohn, adding: “Many plan to travel fully independently, which is a big change to habits five and ten years ago.

There are also several barriers to Chinese long-haul travel: language; food preference; health & safety; cultural differences; and visa & entry requirements.”

Mohn also made note of the top drivers in destination: landscapes; cultural icons; shopping; food; and whether the location was trending on social media.

Finally, Mohn displayed data points which traversed shopping KPIs for Chinese travellers across entry into duty free shops, conversion, and purchase rate; Chinese travellers also had the highest footfall and conversion rate of any nationality.

“There is much more planning of what they’re going to buy, so it’s really important to engage digitally and offer a platform where Chinese travellers can inform themselves,” commented Mohn, as he detailed significant changes in purchase drivers and category choices such as gifting, prestige and luxury products.

Schmidt offered a perspective from the Middle East; prior to the onset of the pandemic, Chinese travellers accounted for 4.6% total passengers across Dubai Duty Free (DDF) airports, but contributed 18% of sales.

“In 2024 recovery of pax was about 50% and sales increased to 8%. 2024 year-on-year traffic almost doubled, but sales only increased 25%. Levels are almost back to normal, but sales are down 50% on pre-pandemic,” said Schmidt.

Schmidt did however note the importance of continuing to expand its cultural relevance to Chinese travellers, with the goal of employing 500 Chinese staff in the near future (DDF currently employs 360 Chinese staff).

“There’s been a significant shift in category share, cosmetics has come down from 35% YTD and fashion is now the leading category, because we put a big emphasis on bringing fashion boutiques into our concourses, and the same has been seen with top brands shifting from skincare to fashion,” commented Schmidt.

He emphasised the importance of partnerships, especially digital, in enhancing their commercial appeal: “We’ve created a virtual reality map of all our stores so travellers can familiarise themselves with the layout. If you look at AliPay we have promotions running with them on cashback, and we currently have 70,000 views over 2 months for our account on WeChat. We also accept Chinese Yuan if you pay in cash, and we’re active on social media with daily/weekly posts.”

“We celebrate Chinese New Year every year, including celebrations with the Council General for China, Golden Week, and an Appreciation Ceremony with the Chinese Consulate,” continued Schmidt.

New face(s)

“ This is the face of the new Chinese traveller,” began Choi-Lee, who continued: ” They’ve travelled in small groups, with friends and family, and as couples. They are FiT’s in the truest sense.”

“It’s easy to say they’re westernising. They’re not, they’re modernising. They still want hot water to drink, and Chinese food, but to also be connected by genuine stories to place, and they’re looking at things through a very different lens,” noted Choi-Lee.

Choi-Lee used camping as an example, which became a phenomenon in the region during the pandemic.

“From a western lens it’s about going somewhere to be away from the crowds. Through a Chinese lens, you go with your friends to the local park, local river or waterway and you pitch your tent with your friends, along with hundreds of others.

Businesses in China capitalise on these trends immediately by updating their décor to appeal to this trend and the young Chinese consumer.”

Choi-Lee referenced brought the conversation back to Hainan, noting: “I don’t know many people who haven’t either been there or ordered from there. Hainan is seen as a destination and is the benchmark when they travel overseas.

They will compare everything from the products to the services, so the question is; how can you appeal to them through that cultural lens? Trends come and go but cultural keys which drive behaviour, they do not.”

Choi-Lee noted one of those cultural keys was the notion of the Chinese being “born to bargain, if we can get a great deal it’s a sign of cleverness and we gain face (status & hierarchy). Even bigger face when served by a Westerner. Limited-edition products work. In a nation of 1.4 billion people, if you have something others don’t then that’s great face.”

Over to you

Rimmer then fielded questions from the floor, the first of which concerned the spirits category and the relative minority of female buyers across the category.

Schmidt opened the discussion: “There’s a lot of work to be done to address this. Great efforts have been made by perfumes and cosmetics, but in liquor in terms of assortment and staff that needs a bit of attention to be honest.

We saw a big shift from cosmetics from 37% down to 17% of total Chinese pax spend. We were the first to employ dedicated Chinese staff, but the shift is definitely towards fashion.”

“Traditional Chinese Medicine sees liquor as bad for the body, but I think this attitude is changing. What I found amazing was how much Chongqing women can drink. Within certain provinces it’s acceptable, so I think there is room for more research and a way for the liquor market to appeal to the Chinese female consumer,” noted Choi-Lee.

The second major audience question concerned Chinese domestic brands in fashion, perfumes and cosmetics, the impact therein on duty free sales, and the emergence of social media influencers promoting domestic brands.

Choi-Lee said: “During covid, the rest of the world got really poor, but in China many people had suddenly gotten rich. Chinese local brands really invested into improving and trying to catch up. There was a rise of the small business, funded by the government and startups from Millennials/Gen Z.

The big word among older women and men is ‘organic’ within skincare. Also, e-commerce in China is massive, think the 618 festival in June, which is second in size only to 11/11.”

Choi-Lee also made mote of the impact of macro-political shifts following the pandemic: “It’s political, so I can’t speak to much, but China wants to keep its money in China. The President and Chinese Communist Party want to make sure their country continue to prosper, and after covid they did lose a lot of money.

The average Chinese consumer doesn’t care about all that, but the Chinese are being told to remain isolationist. Money is spent more on experience of travel and maybe not things along the way as much when Chinese do travel.”

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COMMENTS

APAC Travel Retail Market
The Asia-Pacific Travel Retail Market is expected to reach USD 63.15 billion in 2024 and grow at a CAGR of 9.21% to reach USD 98.11 billion by 2029. Dufry, DFS Group, King Power, Flemingo International and China Duty-free Group Co. Ltd are the major companies operating in this market.
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The Asia-Pacific Travel Retail Market size is estimated at USD 63.15 billion in 2024, and is expected to reach USD 98.11 billion by 2029, growing at a CAGR of 9.21% during the forecast period (2024-2029). The growing income of the middle-class population increased the development of the travel retail market in Asia Pacific.
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The Asia-Pacific travel retail market is anticipated to rise at a considerable rate and register a CAGR more than 10.1% during the forecast period, 2021-2026. The outbreak of the COVID pandemic, in early 2020, however, has negatively impacted the market for duty-free retailing in the Asia Pacific region. Over 320,000 local jobs across the Asia ...
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