|By PR Newswire||
|November 14, 2012 03:41 AM EST||
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:
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
Email: [email protected]
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Sep. 29, 2016 08:45 PM EDT Reads: 1,541
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Sep. 29, 2016 08:45 PM EDT Reads: 2,203
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Sep. 29, 2016 06:15 PM EDT Reads: 3,669
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Sep. 29, 2016 06:00 PM EDT Reads: 1,534
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 29, 2016 05:15 PM EDT Reads: 2,852
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Sep. 29, 2016 05:15 PM EDT Reads: 1,578
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Sep. 29, 2016 04:45 PM EDT Reads: 2,784
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 29, 2016 04:45 PM EDT Reads: 3,439
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 29, 2016 04:30 PM EDT Reads: 1,340
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Sep. 29, 2016 04:30 PM EDT Reads: 1,955
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 29, 2016 04:00 PM EDT Reads: 2,393
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Sep. 29, 2016 04:00 PM EDT Reads: 474
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Sep. 29, 2016 03:30 PM EDT Reads: 1,627
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Sep. 29, 2016 03:30 PM EDT Reads: 2,550
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 29, 2016 03:15 PM EDT Reads: 1,790