Travel Retail Is Outperforming Department Stores
by MR Magazine Staff
Jun 20, 2019
Brands are finding success in airports and other transit hubs, with Estée Lauder bringing in more revenue from airports globally — they accounted for approximately 18% of its total sales in 2018 — than it did in department stores in North America last year, according to The Wall Street Journal. Other brands, including Bacardi and Gucci, have been targeting the space — and for good reason: The global duty free and travel retail industry grew around 10% year-over-year (YoY) in 2018 to reach $76 billion in sales, per The Data Circle as cited by The WSJ, while US department stores saw their sales fall 4.1% YoY to $149 billion, according to IBISWorld. Read more at Business Insider.
