Dynamic Duty Free & Travel Retail Industry Congregates at Annual World Exhibition
CANNES, France, November 13, 2013 /PRNewswire/ --
"Asked by a colleague which word I would choose to describe TFWA World Exhibition 2013, the word 'dynamic' came to mind," commented Erik Juul-Mortensen, President TFWA. "Dynamic in that there is a much better sense of working together in the industry; in that passenger numbers are growing; in that exhibitor and visitor numbers keep increasing."
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In total over 6,300 delegates from nearly 3,000 companies in the global duty free & travel retail industry attended the annual trade show which took place in the Palais des Festivals, Cannes from Sunday 20th to Friday 25th October. This visitor figure represents a +4% increase on the previous year and of the total 34% were key duty free & travel retail operators and landlords, up 8% on 2012.
"Dynamic" applies equally to the industry as a whole. Worldwide sales last year topped US$55.8 billion, up 9.4% on the previous year, according to Generation Research, at a time when many regions of the world are still recovering from financial crisis and economic constraints.
Asia Pacific accounted for US$19.9 billion, 36% of the total, and Europe followed with US$19.3bn (35%). the Americas accounted for 20%, Middle East 9% and Africa 2%. At +19.4% the Asia Pacific region was again the fastest growing region.
In terms of channel, airport retail remains by far the largest contributor to the revenue pot, well ahead of airlines, ferries and other channels. Modern airports which are catering to rapidly increasing passenger flows place non-aeronautical retail at the heart of their development strategy and as a result the retail environment is increasingly diverse, alluring and entertaining.
In terms of product sectors, fragrances & cosmetics remains the dominant sector with over 28% of market share followed by wines & spirits at 16%. However the beauty category's growth at 10% was less impressive than fashion & accessories, a category which accounts for 14% of the market but grew at 13.5% in 2012 vs 2011. Unusually, the watches, jewellery & fine writing instruments and confectionery & fine food categories also outperformed the beauty sector.
The annual TFWA World Exhibition plays a vital role as a forum for business and networking and a launchpad for the innumerable new products destined for travel retail outlets, many of which will be exclusive to travellers.
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