Dublin, Sept. 23, 2020 (GLOBE NEWSWIRE) — The “Asia Pacific Duty-Free Retailing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025” report has been added to ResearchAndMarkets.com’s offering.
The Asia Pacific duty-free retailing market grew at a CAGR of around 9% during 2014-2019.
Key Questions Answered in This Report:
- How has the Asia Pacific duty-free retailing market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the Asia Pacific duty-free retailing market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the Asia Pacific duty-free retailing market and who are the key players?
- What is the degree of competition in the industry?
The outbreak of the COVID pandemic, in early 2020, however, has negatively impacted the market for duty-free retailing in the Asia Pacific region. The pandemic resulted in national lockdowns across the region resulting in restrictions in international travel, creating a negative impact on the industry. The Asia Pacific duty-free retailing market, however, is expected to recover from 2021 and exhibit moderate growth during 2021-2025.
Duty-free shops refer to the retail outlets where goods are exempted from national taxes and duties for providing a unique sales channel for international travelers and tourists. These outlets are majorly located at international airports, seaports, border shops, international train stations, and onboard aircraft. Duty-free retailing offers a broad range of products, including perfumes, cosmetics, alcohol, confectioneries, electronics, fashion accessories, etc.
In the Asia Pacific region, the expanding travel and tourism sector along with the rising number of new international routes is primarily driving the market for duty-free retailing. Moreover, the increasing levels of urbanization along with the emergence of low-cost carrier (LCC) airlines are also propelling the sales of duty-free goods in the region. The market is further driven by the emergence and growth of duty-free stores across international airports and seaports. Moreover, the wide presence of duty-free goods pertaining to country-specific culture and heritage has also attracted numerous international tourists.
Additionally, the increasing popularity of duty-free retail stores offering various luxury and premium brands is also driving the market growth. Rising digitalization along with the increasing penetration of social media marketing strategies has enabled several retailers to promote their exclusive products to the international customers. The wide availability of duty-free goods on e-commerce platforms is also catalyzing the market growth in the Asia Pacific region.
Besides this, the growing penetration of self-service stations, such as kiosks, and other interactive sales channels has enabled retailers to overcome linguistic barriers with their customers.
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Asia Pacific Duty-Free Retailing Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
6.1 Fragrances & Cosmetics
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Alcohol & Spirits
6.3 Fashion & Accessories
6.4 Tobacco Goods
6.5 Watches & Jewellery
6.6 Confectionery & Fine Food
7 Market Breakup by Distribution Channel
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Border Shops
7.4 Onboard Aircraft
7.5 Railway Stations
8 Market Breakup by Country
8.1 China (including Hong Kong)
8.2 South Korea
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
- China Duty Free (Group) Co. Ltd.
- DFS Group Ltd. (LVMH)
- Dufry AG
- Ever Rich D.F.S. Corporation
- Japan Airport Terminal Co. Ltd.
- King Power International Company Limited
- Lagardre Travel Retail Pacific (Lagardre Group)
- Lotte Duty Free (Lotte Corporation)
- Shinsegae DF Inc. (Shinsegae Inc.)
- The Shilla Duty Free Shop (Hotel Shilla Co. Ltd.).
For more information about this report visit https://www.researchandmarkets.com/r/aufwra
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