Often asked: What Is Travel Retail?
- 1 What is the travel retail industry?
- 2 Can you explain how you see the differences between travel retail and retail in the domestic market?
- 3 Why is travel retail important?
- 4 What is retail airport?
- 5 What is travel retail Whisky?
- 6 What is the concept of duty free?
- 7 Why do airports have duty free?
- 8 What is duty travel?
- 9 Why are there duty free shops in airports?
- 10 What is traditional retail format?
- 11 What are the factors affecting retail location?
- 12 What are shops in airports called?
What is the travel retail industry?
“Travel retail” is a term that commonly refers to sales made in travel environments where customers require proof of travel to access the commercial area, but which are subject to taxes and duties. Duty free & travel retail generates vital revenues for national aviation, travel and tourism industries.
Can you explain how you see the differences between travel retail and retail in the domestic market?
There are many differences between the travel retail environment and the domestic retail landscape. In travel retail, brands only have a small window of opportunity to attract and engage customers and convert sales, all the while competing side-by-side with a wider range of other brands and products on offer.
Why is travel retail important?
Travel Retail Keeps Growing The propensity to shop while traveling – travelers have more time to browse in airports designed as inviting shopping spaces. Travel retailers use data insights such as advance knowledge of where the customer is coming from and heading, to cater to specific needs.
What is retail airport?
Airport retailing is basically the presence of many retail services of many products inside the airport for providing enhanced convenience to the people travelling. Airport retailing also delivers a broader variety of merchandizes and is a comparatively easy choice for travelers.
What is travel retail Whisky?
Travel retail offers whiskey companies a place for experimental and unique offerings, as well as high-end collectibles. Standing out on the shelves of duty free stores also signals to consumers that you should be seen as one of the big brands.
What is the concept of duty free?
Duty free is a concept of shopping, offering shoppers goods on which import duties is not charged. It is an excellent opportunity for international travelers to save money on a whole variety of products: from perfume and cosmetics, to tobacco and hard liquor.
Why do airports have duty free?
It is an English word meaning free from taxes. There are certain stores at international terminals which are free from duties. These shops located at the airport are called duty free stores or shops. Lots of product can be bought at a cheaper price from these stores as they are free from duties.
What is duty travel?
a. Duty travel starts on leaving from the authorised starting point. After completing the outward duty the employee is obliged to continue his travel or return on the same day, if the duties or the outward journey plus duties do not exceed 10 hours and the employee can reach the destination by 22.00 hours.
Why are there duty free shops in airports?
The “duty” in duty-free refers to taxes. The duty-free shop is allowed to sell their materials exempt from various national and local taxes on the condition that the goods will be taken out of the country by international travelers. In the absence of taxes, duty-free shops are able to offer lower prices on their goods.
What is traditional retail format?
Traditional Retail: The salesperson goes to the outlet, counts the inventory, explains the promotions (if any), and then suggests an order to the store owner. The store owner then agrees or modifies the order.
What are the factors affecting retail location?
7 Key Factors That Should Decide Your Retail Store Location
- Type Of Store You Wish To Set Up. This is the first thing that you must consider in the process towards finding your location.
- Workforce Attributes.
- Businesses and competition in the proximity.
What are shops in airports called?
Duty-free shops (or stores) are retail outlets whose goods are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country.