Global Airport Retailing Consumer Electronics Market to Showcase Vigorous Demand during the Period u

From: Fact.MR
Published: Fri Dec 07 2018

Tier I vendors of airport retailing consumer electronics continue to consolidate their position market, as high initial investments remains a major barrier to entry for start-ups and new entrants. Established players in the airport retailing consumer electronics market, such as Dufry AG and Dubai Duty Free, hold nearly half the revenue share of the market.

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Tier II companies in the Airport Retailing Consumer Electronics Market lack capital to expand in the market, despite having a significant regional penetration across the globe. Market leaders are investing heavily in advanced technologies and infrastructure to attract more consumers are highly-crowded airports. Eventually, with the increasing expansion of leading market players, the airport retailing consumer electronics market is likely to remain highly concentrated in the upcoming years.

Airport Retailing Consumer Electronics Companies Eye Growth Opportunities in Emerging Markets

According to a report by Airports Council International, emerging economies, including China, India, the United Arab Emirates, and Indonesia, are likely to account for more than 60% of the global air passenger traffic by 2040. With the increasing air activities in developing countries, regions such as Asia Pacific and Middle East & Africa (MEA) remain one of the leading attractions for airport retailing consumer electronics vendors.

This is expected to encourage players in the airport retailing consumer electronics market to expand their footprint in MEA and Asia Pacific in the upcoming years. Dufry AG, a Swiss travel retailer and a leading player in the airport retailing consumer electronics market, recently signed a new contract to operate a 2,300 m˛ with two duty-free stores at Perth Airport Pty Ltd (PAPL), Australia. The company’s goal to establish a stronger foothold in Asia, Eastern Europe, Middle East, and Australia is underpinned by its significant investments in its travel retail stores at popular airports in these regions, such as Sharjah International Airport.

Challenges Prevail in Improving Airport Retailing Consumer Electronics Sales at Less Ubiquitous Airports

Retailers are still struggling to establish a stronger position in the airport retailing consumer electronics market, despite the recent positive developments in the airport retail industry. Market players are becoming more aware about the fact that airport retailing consumer electronics business models that work for busy airports may misapply for less-popular airports.

Market players continue to face barriers in enhancing the consumer footfall in airports at obscure and less-discovered tourist destinations, amid increasing growth of the e-commerce industry. In order to improve sales at less ubiquitous airports, vendors in the airport retailing consumer electronics market are focusing on unique end-user requirements. Airport retailing consumer electronics market players are adopting strategies to address critical needs of diverse consumer groups, envisaging positive growth at less crowded airports.

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Opportunities Abundant for Airport Retailing Consumer Electronics Vendors

Large and busy airports worldwide are concentrating on leveraging the potential of non-aeronautical or commercial income from airport retail activities, as it serves as an important source of funds for investment. Additionally, purchasing trends of air transport passenger have extended beyond shopping for food, beverages, and kitschy souvenirs to luxury retails and purchasing consumer electronics, creating lucrative avenues for vendors of airport retailing consumer electronics. Furthermore, duty-free imported consumer electronics, exclusive products, and credible brands continue to coax consumers to indulge into unplanned buying, which is expected to accelerate sales of airport retailing consumer electronics in the coming future.

Air Traffic Proliferation to Complement Market Growth

According to the Airport Council International, the air traffic at 20 busiest airports in the world increased by 5.2% in 2017. Total number of passengers traveling by air grew by 6.6% in 2017 as compared to that in 2016, which creates more opportunities for market players to enhance airport retailing consumer electronics sales. Rise in the global air traffic coupled with increased disposable income of passengers translate into dynamic spending habits of consumers, which is opening new avenues of growth for stakeholders in the airport retailing consumer electronics market.

Competitive Landscape

The FactMR report provides comprehensive information about recent developments in the airport retailing consumer electronics market. With the help of detailed financial information about leading airport retailing consumer electronics market players, the report helps readers to understand the competitive landscape of the airport retailing consumer electronics market. The airport retailing consumer electronics market players featured in the report are Durfy AG, Crystal Media, Royal Capi-Lux ('Capi'), InMotion, Dubai Duty Free, Lagardere Travel Retail, Bahrain Duty Free Shop Complex, and Regstaer Duty Free.

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