Airport retailing market is set to witness unwavering growth, as airport retail is not an unmapped category anymore and has expanded to become a lucrative space for the retail industry as a whole. The growing popularity of airports as an opportune site to tap travel-bound customers, in tandem with brands’ increasing focus on customers having a lot of free time to kill due to early check-ins, is one of the key reasons responsible for overall airport retailing market growth.
With retailers claiming to have their best performing stores at airports and the rising use of the airports as a battle ground for the retail industry are jointly making the airport retailing more enticing than ever.
The trend of airport retailing is going to stay here for long, and is anticipated to accelerate at a remarkable rate with the airports in big cities surpassing malls easily. Airport retailing is undergoing a revolution everywhere, riding on the back of the massive shift in infrastructure at airports wherein they are gaining traction as a great go-to place for shopping and entertainment. The format is turning into a big trend in retail industry due to the all year round heavy footfalls in airports in tandem with the high returns for brands from their airport stores. Rising disposable incomes along with the increasing number of people travelling by air are some other factors responsible for growth in airport retail market. The retail space at airports makes a sublime resort where travelers can buy on a whim, making it an exciting place for the retail industry to tap.
Retail has undergone momentous changes in past some years, primarily driven by the explosion of digital media and online shopping. With the constant pressure on charges from airlines and skyrocketing airport rates, airport operators are increasingly gravitating towards commercial revenue sources for profit, finds Fact.MR.
The airport retailing consumer electronics market is anticipated to grow at a meteoric pace. Traditionally accounted as transportation service facilities, airports have started witnessing an influx of retail stores for consumer electronics products. The rapid shift in the customer perspective for airports as a retail go-to place is influencing the growth of the airport retailing consumer electronics market.
The thriving trend of hyper-personalization is taking the center stage in fostering the growth of airport retailing consumer electronics market. The stringent airline limits apropos to amount of goods allowed in flight have paved way for a personalized service in the airport retailing consumer electronics arena. Airport retailing consumer electronics stores deliver immense ease, as it avails customer data from a customer’s boarding passes to deliver products to their destination, later. This trend could influence growth in airport retailing consumer electronics in the coming time.
Flyers showcasing attractive advertisements continue to accelerate growth in airport retailing consumer electronics market. Flourishing digitalization along with strategic product displays on flyers could fuel the sales of consumer electronics in turn offering positive growth opportunities for airport retailing consumer electronics market. This is expected to lead to an increase in product sales primarily in specialty retail stores in airports, subsequently making them a lucrative growth platform for airport retailing consumer electronics, finds the report.
According to Fact.MR report, the airport retailing consumer electronics space remains lucrative and stakeholders can hope for an optimistic growth path in the airport retailing consumer electronics market in the foreseeable future.
Fact.MR’s report offers exhaustive insights carrying details of latent avenues in airport retailing consumer electronics market. The report anticipates that prospects for consumer electronics in airports are likely to remain promising, with the airport retailing consumer electronics market to surge at an impressive 6.3% CAGR by value during the forecast period 2018-2028.
Mohit Loshali, an experienced campaigner, writes about the latest evolutions and trends in the automotive and allied domains. He has helped clients from across the globe with his thought-provoking research and analysis.