Gone are the days when airport shopping was limited to convenience stores, newsstands, and souvenir shops. Today, major airports like San Francisco International Airport (SFO), Los Angeles International Airport (LAX), and New York’s John F. Kennedy International Airport (JFK) have transformed into hubs for luxury shopping, with high-end brands like Burberry, Gucci, Hermès, Saint Laurent, AllSaints, Porsche Design, Coach, BVLGARI, Cartier, and Kate Spade setting up shop to cater to affluent travelers.
The global airport retailing market size was valued at USD 31,815 million in 2022 and is valued at USD 34,657 million in 2023. It is projected to reach USD 91,235 million by 2031, registering a CAGR of 12.8% during the forecast period (2022-2030). This robust growth reflects the increasing trend of retailers establishing a presence in airports. Over the next decade from 2023 to 2033, the airport retailing market is expected to experience a substantial CAGR of 11.7%,…
indicating continued expansion and the opening of more retail outlets in airports worldwide. View this post on Instagram A post shared by Propelle + Konnect (@propellekonnect) Asia Pacific has been dominating the Airport Retailing Market, accounting for the largest share of the market.
The Europe market was the second-highest contributor to the airport retailing market. The Europe airport is projected to reach USD 15,985 million by 2031 growing at a CAGR of 12% during the forecast period. The North American airport retailing market is the third-largest.
This is attributed to the rise in international air traffic from/to the US, which increases footfall at airports. “This market’s growth is propelled by technological advancements, with interactive kiosks and digital platforms enhancing the shopping process.
As airports transform into comprehensive retail hubs, the Airport Retailing Market continues to play a pivotal role in shaping the intersection of travel, commerce, and consumer engagement,” said Mr. Karan Chechi, Research Director with TechSci Research…
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