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:


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]


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
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
@DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises - and delivering real results.
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
"We started a Master of Science in business analytics - that's the hot topic. We serve the business community around San Francisco so we educate the working professionals and this is where they all want to be," explained Judy Lee, Associate Professor and Department Chair at Golden Gate University, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...