Industry Survey
‘Travel Retail Voices’ – Capturing stakeholder views on recovery
A major survey of airport and brand partners by Lagardère Travel Retail reveals how the industry views the shape of recovery, new shopper habits and trends, and the outlook for relationships within the sector.
“If the crisis has taught us one thing it is that we are only as strong as the sum of our parts. Rebuilding will be a collective effort and we must learn from our partners, be inspired by them to create a more resilient and more sustainable future for our ecosystem.” With these words, Lagardère Travel Retail Chairman & CEO Dag Rasmussen introduces ‘Travel Retail Voices’, a new report that captures the views of more than 200 airports and brands, in 27 countries, about the COVID-19 crisis and recovery. The retailer conducted the research towards the end of 2021. It carries a snapshot of industry opinion on recovery and on challenges ranging from digitalisation to the new consumer to the future of partnerships in the sector.
“We must realise the crisis is an opportunity for reinvention, one we can’t miss”
The company says it hopes the report can contribute to a “global conversation” about the path forward. Rasmussen notes: “This is a unique moment in the history of travel retail. Our industry is based on solid foundations and we can count on the unstoppable forces of global mobility to continue to fuel our growth for many years to come. But we must realise the crisis is an opportunity for reinvention, one we can’t miss.”
The study shines a light on how airports and brands view the recovery
Key findings
The findings reveal that industry players are broadly confident in the rebound. A majority (53%) of respondents said the channel will only be ‘Slightly challenged’ in a post-Covid environment. Most airports and brands also expect international travel to reach 2019 levels by 2024. The survey also asked respondents to rank the biggest challenges facing the industry over the next two years. Many cited the rise of ecommerce and a changing traveller mix (leisure vs business and international vs local or regional) alongside reduction of dwell time and the environmental impact of aviation. Airports and brands also broadly aligned in their views that convenience (through quick and seamless store experiences) will be a vital factor in addressing updated consumer expectations. Airports also homed in on the need to enhance in-store ‘phygital’ experiences, seamless checkout and click-and collect options. *See next page for more detail on the key findings.
The rise of ecommerce and a changing passenger mix are seen as the biggest challenges for travel retail in the next two years
Q: What are the biggest challenges to the travel retail channel in the next two years?
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The Moodie Davitt eZine Issue 308 | 13 April 2022
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