Market Trends of Latin America Travel Retail Industry
This section covers the major market trends shaping the Latin America Travel Retail Market according to our research experts:
Fragrance & Cosmetics Segment Share is Dominating the Travel Retail Market in North America.
The fragrances and cosmetics segment is dominating in the overall sales in Latin America travel retail which was almost one-third of the total market. The rise in disposable income among the middle-income groups and improvement in economic conditions, increase in urbanization and changes in lifestyle is driving the attraction of millinials towards the buying of fragrance & cosmetics products.
Airport Retailing is Generating Higher Revenues than other Channels in Latin America Travel Retail Market.
As airports continue to implement tasks such as check-in and bag-drop remotely, there is more physical space which can be used to increase non-aviation revenue streams, the world of airport retail is flourishing channel. Alongside increasing brick and mortar stores, airports are improving services through personalization and technology. Airport retailing has become an important channel for brands to promote and create awareness about products in the market. Airports are diversifying to nom- aeronautical segments such as retail, restaurant bars, cafeterias. It is expected that the airport size and passenger footfall will continue to rise which will positively impact the airport travel retail market in Latin America.
