Luxury Brands Are Bullish on the Future of Airport Retail
Skift Take
Airport sales are not only growing faster than traditional retail outlets, but also providing multiple, multi-channel advertising opportunities well-positioned to reach luxury brands' target customers.
Luxury airport retail is thriving, representing an opportunity for luxury retailers, airports, and marketers all seeking to capture the attention and spend of affluent global consumers.
Let’s start by looking at the numbers: Duty-free shopping is set to reach $64 billion in total revenue by 2020 and more than two-thirds of international travelers make purchases from duty-free stores. Approximately six percent of luxury shopping now takes place at airports, up four percent from last year.
Airport retail has become so important in recent years that's been pegged the “sixth continent of luxury.”
It is a lucrative and critical component for luxury brands in their business strategies. For example, Italian sunglass maker Luxottica's 155 airport stores are its best performers out of all 3,000 retail locations.
“The data shows that the airport environment is inc
