ETRC Index highlights strength of European airport retail recovery

First-half sales in European airport retail were down by just -4% compared to the same period in 2019. That’s according to the latest European Travel Retail Confederation (ETRC) Airport Retailing Index. Sales climbed +28% on H1 2022.

The ETRC Index is compiled by Pi Insight and features data contributed by ETRC-affiliated European travel retailers and passenger data from travel analyst ForwardKeys.

Value sales performance continued to improve at a more accelerated rate than unit sales and passengers. The figures show a H1 2023 unit sales deficit of -15% and passenger deficit of -8% measured against H1 2019.

Spend per passenger showed an upward trend in the first half, showing a total increase of +0.3% on H1 2022 and +4.1% on H1 2019. From a category perspective, ETRC noted, several product categories have now reached their point of recovery.

Value sales for Q2 2023 continued to show quarter-on-quarter improvement, with the total value sales deficit falling to just -2% compared to Q2 2019 (an improvement of +4% vs. Q1 2022). In comparison, the passenger deficit increased and unit sales remained static vs. Q1 2023.

Reflecting on the results, ETRC Secretary General Julie Lassaigne said: “We are delighted to present those positive figures as our industry is gathering in Cannes next week for the annual TFWA World Exhibition and Conference.

“We hope they will inspire discussions between partners to keep travel retail as the most anticipated part of the passenger experience.“

Pi Insight Managing Director Stephen Hillam commented: “Our industry in Europe has continued to show a strong performance in the first half of 2023, with several of the key trends we’ve been experiencing throughout the recovery continuing within the context of a marketplace which is showing increasing signs of normalisation.

“With H1 2023 value sales exceeding 2018 levels, Q2 value sales now just -2% behind 2019 levels, and with several of our categories reaching their point of full recovery, we have a lot to be optimistic about as we move into the second half of the year.“

ForwardKeys Retail & Travel Retail Customer Success Manager Jérôme Goldberg said: “We are happy to see positive shifts in the travel data reflecting a move from simple travel recovery to figures punching above 2019 pax levels.

“That said, the recovery is still patchy and not all nationalities are moving at the same pace. We can see that Europe is still the preferred long-haul destination for APAC travellers, the only obstacle is the bottleneck based around scheduled seats.”