In case you're looking for some more inspiration on how best to begin a travel retail business, then this post will offer you with some helpful ideas and advice.
Provided that the travel retail market size keeps on increasing, it doesn't come as a very big surprise that a lot of retail merchants have focused on providing individualised shopping experiences even at airports. The main investor in DFS Group have backed the brand in providing travelers with a great shopping service regardless of where across the world they are. Airport shopping has come to be an activity tourists look forward to, and being given a personalised, luxury shopping services definitely adds up to their traveling experience. Nowadays, the biggest travel retail industry players need to put a lot of attention and consideration into how they advertise and promote their retail locations, to bring in the right type of clients at the best point in time.
The retail industry has been expanding consistently over the last few years, and, with that, we are noticing the increased popularity of travel retail. Be it for business or pleasure, men and women these days travel much more outside the country. This is one of the main factors why airports have ended up being an appealing spot for retail merchants to open stores in. Normally, travelers get to the airport a couple of hours ahead of time, which means that they have a bunch of time to spend before their flight- the ideal chance to shop. Business people such as the activist shareholder in Dufry have seized the opportunity to profit from how likely individuals are to go shopping when they travel. Duty free retailers offer a wide array of products and solutions, from travel essentials which one might have forgotten to take with them, to gift sets and items people could purchase as a gift for somebody they know. A challenge that this type of stores encounter, however, is that the time people can spend store shopping is determined by the airport schedule- no one will spend hours browsing in a shop if they know that their flight is boarding in several minutes.
The global duty free market size continues growing and, thereupon, the choice customers are given every time they go to an international airport continues to increase. As a result, the space the majority of travel retail shops can access is becoming increasingly limited. The key investor in Relay has found a fix to this issue by providing travelers with a one-stop shop solution- offering a wide range of products in one store. A great deal of these retail travel shops are now focusing on offering a lot more compact, travel-sized items, aware that people’s purchasing decisions can be impacted by the quantity of luggage they are permitted to take on board.