Global business travelers’ average expenditure to duty-free and duty paid airport retail outlets is US$87 and US$49, respectively
Dallas, Texas (PRWEB) November 16, 2013
Promotional offers have been identified as essential for the airport retail industry for success in 2013-2014, according to leading new report - Global Business Travelers’ Airport Retail Trends, 2013-2014 – with 78% of survey respondents identifying the ‘promotion of price advantages over city-center retailers’ as the key activity that can optimize the business of airport retailers.
This report is the result of an extensive survey drawn exclusive panel of global business travelers with regard to airport operators and retailers’ efforts to increase non-aeronautical revenues to capitalize on growing passenger volumes. It offers analysis of trends in airport retail, with an explanation of how opportunities and demand are set to change in 2013-14, providing access to the opinions and purchasing behaviors of business travelers, in addition to an examination of their expectations of total expenditure at airport retail outlets and necessary developments for better footfall.
Complete report available at http://www.rnrmarketresearch.com/global-business-travelers-airport-retail-trends-2013-2014-market-report.html.
This information is categorized by age, gender, income levels, region, travel destination, and travel frequency, examining a wide range of variables in regard to purchasing behavior in airport retail outlets. This facilitates the formulation of accurate expectations with regard to travelers’ behavior, in addition to the identification of key challenges, opportunities, product categories, and promotional activities to maximize revenue in the airport retail market, thereby making Global Business Travelers’ Airport Retail Trends, 2013-2014 required reading for those seeking to position their businesses to meet the expectations and demands of global business travelers.
Some Key Insights Include:
When travelling by air, the highest percentage of passengers prefers to shop at retail stores.
Overall, 52% of respondents spent ‘US$25-US$100’ on shopping at duty free airport retail shops, whilst 45% spend ‘less than US$25’ at duty paid airport retail outlets.
Respondents expect ‘no or minimal change’ in their overall shopping expenditure at airport retail stores 2013-2014, with only 17% of respondents forecasting their overall shopping at airport retail stores to increase considerable over the next six months – a decline of 2% from the respondents who expressed similar opinions in 2012.
Tobacco, perfumes, cosmetics, and alcoholic beverages are the most popular products amongst pre-planned purchases, whilst art and craft, music and video, and clothing and footwear products are the most likely to be purchased on impulse.
‘Renowned brands at discounted prices’, ‘last minute gifts’, and ‘utilization of time’ are the key factors to induce purchase at airport retail stores.
‘Occasional high prices’, ‘return or exchange of goods’, and ‘security concerns for liquid items’ are the most pressing concerns that influence shopping at airport retail outlets.
Promoting price advantages over city-center retailers’ and ‘adapting offers to passenger profiles are crucial for business of airport retailers.
Dubai International Airport and Heathrow Terminal 5 Airport are the leading airports in terms of the retail experience offered to business travellers.
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