Airport Retailing Consumer Electronics Market, By Type (Electronics Devices, Accessories, Others), By Size (Large, Medium, Small), By Store Location (Pre-security, Post-security, Aero Cities), By Channel (Supermarket, Specialty Retail Store, Others), By Region - Global Analysis Forecast Till 2030

The airport retailing consumer electronics market is estimated to be worth USD 1.9 Billion in 2022 and is expected to exceed USD 3.5 Billion by 2030 end, growing at an 8.2% CAGR between 2022 and 2030.

Airport retail hubs provide various goods and product categories, including wines and spirits, perfumes and cosmetics, tobacco goods, electronics, food and beverage, and fashion and accessories. Airports follow the general travel retail store model. These retail establishments are located in busy, central airport areas, attracting more customers.

Duty-free goods in retail stores are products sold at airports exempt from paying national taxes, tariffs, and other specific local taxes. Tourists traveling from one country to other purchase duty-free goods such as alcohol, tobacco, perfumes, clothing, and electronics, each country has its own set of rules and regulations that govern the airport retailing industry.

Market Dynamics

Drivers

Leisure, business, medical, and other types of travel and tourism are all included. Changes in lifestyle, an increase in tourism promotion, and an increase in accessibility of transportation facilities are all factors that are expected to increase the number of travelers at the airport, thus contributing to the growth of the airport retailing consumer electronics market. The ease of booking hotels and transportation through online portals contributes to market growth. Continuous development in the travel and tourism industry, as well as integration of various segments such as hospitality and infrastructure with government initiatives to attract tourists, accelerate global travel and tourism industry growth, which in turn supplements the development of the airport retailing market.

Restraints

The Airport Retailing Consumer Electronics market growth is expected to be hampered by rigid government rules and policies regarding the allowed limit of duty-free products for air travelers. Different governments have different policies in place for their air travelers. The Indian Commerce and Industry Ministry has proposed limiting the number of alcohol bottles passengers can purchase at duty-free shops when returning from a trip abroad. The number of duty-free alcohol bottles purchased is proposed to be cut in half. This action has sparked widespread condemnation.

On the contrary, the US government permits visitors to bring up to one liter of alcohol into the country. Furthermore, many countries limit the number of cigarettes allowed per passenger. Liquor and tobacco products contribute significantly to the airport retail industry's market share. Thus, rigid government rules and policies on purchasing specific products from airports have significantly hampered airport retail store sales, limiting the airport retailing consumer electronics market growth.

Key players:

• Crystal Media

• Royal Capi-Lux (‘Capi’)

• InMotion

• Dubai Duty-Free

• Lagardere Travel Retail

• Bahrain Duty Free Shop Complex

• Regstaer Duty Free

Market Segmentation:

Airport Retailing Consumer Electronics Market, By Type

• Electronics Devices

• Accessories

• Others

Airport Retailing Consumer Electronics Market, By Size

• Large

• Medium

• Small

Airport Retailing Consumer Electronics Market, By Store Location

• Pre-security (Landside)

• Post-security (Airside)

• Aero Cities

Airport Retailing Consumer Electronics Market, By Channel      

• Hypermarket/Supermarket

• Specialty Retail Store

• Others

Airport Retailing Consumer Electronics Market, By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis:

Asia-Pacific contributed the most revenue and is expected to grow at a CAGR of XX% during the forecast period. China, Thailand, Japan, India, Australia, and South Korea are all being studied for the Asia-Pacific airport retailing market. Asia-Pacific is growing at the fastest rate due to rising living standards and disposable income, as well as the expansion of the tourism industry. Furthermore, developing the affordable luxury segment in Asia-Pacific tier 2 cities boosts Airport Retailing Consumer Electronics market growth.

Europe was the market's second-largest contributor to the airport retailing market. The Europe airport is expected to be worth USD XX million by 2030, with a CAGR of XX% over the forecast period. The most extensive travel and tourism markets in Europe are the United Kingdom and Russia, which have more significant tourists via airlines. Tourists from other countries, such as China and the Middle East, also contribute to Europe's airport retailing market. Thus, the development of the travel and tourism industry and consumer lifestyle improvements due to increased disposable income serves as the market's primary driving forces.

The airport retailing market in North America is the third-largest. This is due to increased international air traffic from and to the United States, which increases foot traffic at airports. Furthermore, North American airports are heavily investing in analyzing revenue per visitor by providing an upgraded shopping experience with facilities such as boarding, lodging, catering, parking, and advertising, as well as focusing on promotional activities such as campaigns, digital advertising, events, and press activities, which fuels duty-free shopping and product visibility. An increase in the number of luxury stores at airports by some of the world's largest companies, such as Louis Vuitton SA and LVMH Mot Hennessy, is positively impacting the airport retailing consumer electronics market.

Scope of the Report:

User

Tab Content