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It has been observed that luxury wines and spirits are highly preferred by the international passengers, while there is also a strong growth in sales of fragrances and cosmetics in the Asia-Pacific market.
strength, with the Asia-Pacific market delivering impressive sales of US $ 30.6 billion last year, an increase of 11.6 % on the previous year.
“ This performance is being driven largely by two defining factors. Firstly, our potential customer base continues to grow, with recent figures from Airports Council International showing the number of international passengers growing at a robust rate of 8.4 %. Within Asia-Pacific, a number of airports are outperforming this figure, with the number of international customers at, for example, Kuala Lumpur International Airport growing by 14.7 % and Tokyo Narita Airport by 13.6 %,” he explained.
What are travellers buying?
According to a report published by Allied Market Research, titled Travel Retail Market by Product and Channel: Global Opportunity Analysis and Industry Forecast, 2017-2023, wines and spirits is the second largest revenue contributor in travel retail market. This is because consumption of wines, particularly luxury wines and spirits, has recorded considerable growth in the past few years.
Fashion and accessories were also active sales performers among Asia-Pacific passengers, registering an increase of 6.2 % to US $ 4.5 billion.
16 Retail Asia August 2018