Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Pat Romanski, Elizabeth White, Wade Williamson, VictorOps Blog

News Feed Item

Global Duty Free & Travel Retail Industry on Course for Annual Sales of 50 Billion US Dollars

PARIS, November 14, 2012 /PRNewswire/ --

"The most recent annual sales figures from Generation showed our industry reached 46 billion US dollars in 2011. Even allowing for the positive impact of exchange rates against the dollar, this was a performance to be proud of."

To view the Multimedia News Release, please click:

http://www.multivu.com/mnr/58643-tfwa-world-exhibition-2012

Speaking at the annual TFWA World Exhibition Conference in Cannes on Monday 22nd October, Erik Juul-Mortensen, President of TFWA commented that, "Our brands, resilient and resourceful, demonstrated growth across all categories, with luxury goods leading the way."

Highlighting the strength of the Asia Pacific region he continued, "This 2011 performance was all the more remarkable given the persistent currency turmoil and the continued economic gloom within the EU, particularly the Eurozone countries, a weak US economy and political and social unrest in North Africa and the Middle East."

Noting the continued growth in 2012, Juul-Mortensen said, "If we maintain this current direction, and we avoid major crises, we are on course to achieve sales of over US$50 billion this year. The latest sales growth forecasts see travel retail potentially hitting $60 billion plus by 2015 and $120 billion by 2020."

Keynote speaker Madeleine Albright, former U.S. Secretary of State and Chair of the Albright Stonebridge Group provided an erudite summary of the current geopolitical situation. She said that there has always been a trend towards globalisation but it is the pace at which change happens now that has increased.

She pointed to four realities: the growth of some economies - China, Brazil, Russia, Turkey - which has changed their economic leverage; new technology which has fuelled political change with four governments overthrown in the Middle East and a fifth under intense siege; the evolution of security threats which are even more threatening than before; and religion which is a source of support to millions but whose doctrines can cause conflict.

"Although we cannot underestimate these problems," she concluded, "we cannot be panicked by them either."

The Conference, on the theme 'A Brand New Dimension', also featured presentations by Jean-Charles Decaux, CEO JCDecaux on new modes of engagement with consumers and Kjell A. Nordstrom, Economist, on future business strategies in the face of shifts in society.

Attended by a record 894 delegates, it set the scene for TFWA World Exhibition which gave 462 brand-owners the opportunity to showcase thousands of products before buyers, agents, distributors and other trade visitors representing airports, airlines, airport retailers, ferry and cruise line companies and other duty free outlets. The exhibition occupied 21,000m2, the largest exhibition of its kind ever.

A record total of 6074 trade visitors flocked to the week-long show in Cannes, up 4% on 2011, all keen to update on trends and view the latest products.

Many of the items on display are exclusive to travel retail; consumers have demonstrated the appeal of products which cannot be found on the high street. Brands often use travel retail as the global launchpad for new products and the first place these are revealed to buyers is at TFWA World Exhibition.

The global duty free and travel retail industry is a dynamic and prosperous market place. The total sales of US$46 billion in 2011 represent an increase of nearly 18% on the previous year and for the first time in the history of the industry, the Asia & Oceania region outpaced Europe with sales of US$16 billion - up 25% on 2010 - compared with US$15.6 billion in Europe, the birthplace of duty free & travel retail, according to Generation Research.

Airports dominate the market with nearly two thirds (61%) of sales, with airlines 6%, ferries 5% and downtown, cross-border and military duty free stores accounting for the remainder.

In spite of the current economic problems in global markets, luxury goods from fashion and accessories to jewellery and watches are the most popular purchases generating nearly US$17 billion in revenue a year. Fragrances and cosmetics have traditionally been a great favourite and today they account for a third of sales (31%). Wines & spirits, a category which is noted for its innovative marketing techniques such as travel retail exclusive products and in-store cocktail bars, generates sales of almost US$8 billion.

In terms of passenger numbers, the future of the duty free and travel retail industry looks secure however the industry faces many challenges. Several policies pose a threat to the industry and as such a threat to the non-aeronautical revenue streams of international airports.

TFWA World Exhibition provides a window to the world of brands but also offers a forum in which industry participants can discuss such concerns and network in pleasant surroundings. The next TFWA World Exhibition will take place in Cannes from 20th to 25th October 2013.

Before then industry executives will congregate at the MEDFA Conference on 26th and 27th November in Dubai and at TFWA Asia Pacific Conference & Exhibition in Singapore from 12th to 16th May 2013. In addition, in response to keen interest from the trade in developing duty free and travel retail in China, TFWA and the Asia Pacific Travel Retail Association (APTRA) are organising the 'Industry Conference on China' in Beijing from 5th to 7th March 2013.

For more information about these events please consult http://www.tfwa.com.

For further information please contact

TFWA Press Office
Kate Teagle
Tel: +44-1784-434-666
Email: [email protected]

http://www.tfwa.com



Video: http://www.multivu.com/mnr/58643-tfwa-world-exhibition-2012

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that FierceDevOps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. FierceDevOps keeps software developers and IT operations personnel updated on the latest news and trends around the rapidly evolving role of the traditional IT worker.
SYS-CON Events announced today that Creative Business Solutions will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Creative Business Solutions is the top stocking authorized HP Renew Distributor in the U.S. Based out of Long Island, NY, Creative Business Solutions offers a one-stop shop for a diverse range of products including Proliant, Blade and Industry Standard Servers, Networking, Server Options and...
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable clou...
Businesses are looking to empower employees and departments to do more, go faster, and streamline their processes. For all workers – but mobile workers especially – utilizing the cloud to reconnect documents and improve processes without destructing existing workflows can have a dramatic impact on productivity. In his session at 16th Cloud Expo, Mark Grilli, vice president of Acrobat Solutions marketing at Adobe Systems Incorporated, will outline new ways that the cloud is changing the way peo...
With the arrival of the Big Data revolution, a data professional is expected to master a broad spectrum of complex domains including data processing, mathematics, programming languages, machine learning techniques, and business knowledge. While this mastery is undoubtedly important, this narrow focus on tool usage has divorced many from the imagination required to solve real-world problems. As the demand for analysis increases, the data science community must transform from tool experts to "data...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the dat...
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of C...
SYS-CON Events announced today that Emcien will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Emcien’s vision is to let anyone use data to know the future. Emcien has built an automated, predictive analysis product that improves the lives of real people. Emcien allows people to automate their data analysis so they can build a better future.
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional S...
WSM International has launched a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of the organization. According to a recent press release from Gartner, "By 2016, DevOps will evolve from a niche strategy employed by large cloud ...
SYS-CON Events announced today that QTS Realty Trust, one of the nation’s largest and fastest-growing providers of data center facilities and cloud services and a leader in security and compliance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. QTS Realty Trust, Inc. (NYSE: QTS) is a leading national provider of data center solutions and fully managed services, and a leader in security and compliance...