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Airport stores see big boost in sales


Increased security in airports is helping to boost sales in airport stores.

Travel retail, particularly in airports, is currently a bright spot in the retail world.

Spending in airports hit $38 billion globally in 2016, according to GlobalData. It is set to grow by 27% to $49 billion by 2021.

"Apart from the growing number of air travelers, increased security over recent years delivers a constantly changing captive audience for airside retailers, which claim 83% of all spending in airports," said Maureen Hinton, group research director at Global Data Retail. "This audience has time to kill and, especially when on holiday, is in the mood to spend.”

Asia-Pacific airports generated the most spending in 2016, taking $14.8 billion through their tills. Chinese travelers were a particular boon to this market, as they seized the opportunity to buy duty free luxury goods.

Europe, meanwhile, ranks second on spending, hitting $10.7 billion in 2016. Indeed, one benefit of the U.K.’s Brexit decision was the subsequent increase in tourists to the country, who were attracted by the low value of the pound.

Even the United States, which has traditionally offered a poor shopping experience at airports, is cashing in and developing new retail spaces and offers, the report said.

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