Travel retail sales are set to reach record highs of US$85bn by 2020, with cosmetics & fragrances sales claiming 45% of the market. Travellers have unprecedented spending power.
For L’Oréal, the category has been a sales success story, as the ‘sixth continent’ revealed a soaring growth of 27.1% to break €2bn. But the space is not just for conglomerates to innovate, it’s also a platform for SMEs to share their message with open-minded travellers.
“What other channel can expose your brand to travellers from South America at the same time as Asia Pacific travellers?,” says Lawrence Scott, Industry Advisor of travel retail & duty free for The NPD Group.
“What other channel knows the exact passenger mix – down to the hour – of who will pass through their store doors?” So, how can your brand takeoff in the sector?