Duty-free retailers are those that are exempt from certain local and national taxes and duties because they sell goods to international travelers. However, taxes may be imposed on such goods once the buyer reaches their country of destination or when the value or quantity of those goods exceeds certain limits. Such retailers operate at international airports, border towns, seaports, train stations, and onboard aircraft and ships. These retailers offer products like perfumes, cosmetics, alcohol, cigarettes,chocolates, electronics, and accessories.The global duty-free retailing market is expected to grow at a CAGR of 8.56% over the forecast period. In terms of distribution channels, the market was driven by the airports segment in 2015, followed by border, downtown, and hotel shops; cruise lines, ferries,and seaports; and rail stations and others. It has been estimated that the airports segment will account for a 66.34% share of the global market by 2021. In terms of geography, APAC reported the highest sales of $29.63 billion in 2016 and will likely

grow at a CAGR of 10.13% by 2021.

PART 01: Executive summary 7

PART 02: Scope of the report 18

Market overview 18

Key-vendor offerings 20

PART 03: Market research methodology 22

Research methodology 22

Economic indicators 22

PART 04: Introduction 23

Key market highlights 23

PART 05: Economic indicators 26

Global economic indicators 26

PART 06: Market landscape 32

Market overview 32

Market size and forecast 33

Five forces analysis 35

PART 07: Market segmentation by product category 36

Global duty-free retailing market by product category 36

Global duty-free retailing market for fashion, accessories,

and hard luxury products 38

Global duty-free retailing market for cosmetics and

perfumes 39

Global duty-free retailing market for wines and spirits 40

Global duty-free retailing market for tobacco 41

Global duty-free retailing market for confectionery and

fine foods 42

Overall comparison of product segments 43

PART 08: Market segmentation by distribution channel 44

Global duty-free retailing market by distribution

channel 44

Airports 45

Border, downtown, and hotel shops 47

Cruise lines, ferries, and seaports 48

Rail stations and others 49

Overall comparison of distribution channels 50

PART 09: Geographical segmentation 51

Global duty-free retailing market by geography 51

Duty-free retailing market in APAC 52

Duty-free retailing market in Europe 54

Duty-free retailing market in the Americas 56

Duty-free retailing market in MEA 58

Overall comparison of regions 60

PART 10: Key leading countries 61

South Korea 62

China 64

US 65

UK 66

Germany 67

PART 11: Market drivers 68

Increasing number of airport visitors and international

travelers 68

Premium product offerings and exemption of excise

duties 69

Expansion of retailers offering duty-free products 70

PART 12: Impact of drivers 71

PART 13: Market challenges 72

Reduction in the minimum baggage weight 72

Lesser focus on shopping at travel points 72

Regulations on duty-free tobacco products 73

PART 14: Impact of drivers and challenges 74

PART 15: Market trends 75

APAC: Region with the highest growth rate 75

International retailers focusing on M&As 76

Entry of global brands 76

PART 16: Vendor landscape 77

Key insights 77

Comparative analysis of key vendors 78

Dufry 80

Lagardère group (Lagardère) 84

Lotte Shopping 89

LVMH 91

Other prominent vendors 95

PART 17: Appendix 97

List of abbreviations 97

PART 18: Explore Technavio 98