Latest News- Duty-Free Retailing Market: Cosmetics and perfumes is expected to lead the Product segment during 2025-2029

The Duty-Free Retailing Market is being driven by Growing international tourism

The Duty-Free Retailing Market is expected to grow at a CAGR of 8.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 22737.1 million. The global duty-free retailing market is undergoing a substantial growth trajectory, fueled by an increasing focus on enhancing the shopping experience for discerning travelers. To cater to the evolving preferences and expectations of modern consumers, duty-free retailers are investing in advanced strategies. Notably, the adoption of innovative digital solutions and cutting-edge technology is revolutionizing the shopping journey. From mobile apps facilitating pre-ordering to interactive displays providing real-time product information, these digital advancements offer travelers a seamless and personalized shopping experience. Furthermore, there is a discernible trend toward creating visually appealing and experiential store environments, designed to captivate travelers and encourage exploration. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Cosmetics and perfumes
  • Fashion apparel and accessories
  • Tobacco and alcoholic beverages
  • Confectionery and fine foods
• Distribution Channel
  • Airport
  • Border/downtown/hotel
  • Others
• Geography
  • APAC
  • Europe
  • North America
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing international tourism
• Expansion of airport infrastructure
• Exemption of excise duty on premium products

However, the market also witnesses some limitations, which are as follows:

• Stringent government regulations on duty-free tobacco products
• Restriction on baggage weight on flights
• Minimal focus on shopping at point of travel

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Market Scope in Duty-Free Retailing Market Research Report

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Research Analysis Overview

The global duty-free retail industry caters to international travellers, offering tax-exempt shopping in a regulated retail environment at airports, international flights, and railway stations. This significant revenue source for airports provides non-aeronautical income through the sale of duty-free goods to diplomatic, military personnel, and regular travellers upon arrivals. Purchase drivers include the allure of tax savings, customs allowances, and an enhanced shopping experience. Through a certificate course, retailers can navigate the complex landscape of duty-free retailing, including taxes, duties, imports, and value-added tax, to maximize sales during international travel.

Market Research Overview

The duty-free retail market, a segment of the global broadline retail industry, encompasses revenue generated through tax-exempt retailing in a regulated environment, primarily at airports for consumers on international flights. According to Technavio's market analysis, the global duty-free retail market size is determined by sales of goods exempt from taxes and customs allowances, including luxury brands, cosmetics, electronics, and food and beverages. Key growth drivers include increasing international travel and the expanding global middle class, leading to rising demand for luxury and premium products in duty-free shops. Additionally, the adoption of advanced technology, such as contactless payments and automated kiosks, enhances the shopping experience and boosts sales.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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