Airport Retail Has A Long Runway — For The Right Brands

If airport retail continues to develop at the breakneck pace it’s currently keeping, airport shopping corridors may become tourist destinations in their own right. According to The Washington Post and the Airport Experience News Fact Book, U.S. travelers in 2017 spent more than $1.7 billion at airports’ newsstand and travel convenience stores. And a report released in 2017 by GlobalData estimated that spending in airports could reach a global total of $49 billion by 2021, representing a 27% increase over 2016 numbers. It’s not just about dollars, either. A recent Supply Chain Dive article noted that North American travelers wait an average of 90 minutes between airport security and boarding at medium to large hubs. Furthermore, “Between 76% and 90% of concession space is after the security lines, in the “airside” part of the airport (versus “landside” before security).” Read more at Retail Dive.