Travel Retail Voices: a global perspective on the travel retail industry and trends
Lagardère Travel Retail today released its first "Travel Retail Voices" report, based on more than 25 interviews with leading airport landlords and brand managers from around the world. Against the backdrop of the pandemic crisis from Covid-19, this report embodies the perspectives of industry players on a wide range of topics and offers unprecedented insight across the different business sectors and geographies involved. These analyses are complemented with the results of an online study of 200 airports and brands, in 27 countries.
As the travel retail industry enters the recovery phase, Lagardère Travel Retail leveraged relationships with Landlords and brands globally to interview 25 stakeholders about their different business strategies. This series of face-to-face interviews reveals key information about how airports and brands plan to respond to changing market trends and consumer behavior, the rise of digitization, or the importance of adopting more sustainable business strategies. This survey also covers partners' views on changing relationships and business models and innovation in Travel Retail.
This report, the first in the Travel Retail Voices series, was titled "Shaping a stronger future together" to recognize that cooperation within the industry ecosystem is critical to its future.
In addition to qualitative information shared by partners, the report reveals key findings from an online survey of nearly 200 airports and brands in 27 countries. The results reveal that the industry is confident in Travel Retail's rebound. The majority (53 percent) of respondents say the industry will be only slightly "challenged" by a post-Covid environment and that airports and brands expect international travel to reach 2019 levels by 2024.
Commenting on the release of the report, Dag Rasmussen, President and CEO of Lagardère Travel Retail, said, "If the crisis has taught us anything, it is that strong partnerships are essential to everyone's success. Rebuilding will be the result of a collective effort, and for that we must learn from our partners, be inspired by them to create a future that is the most resilient and most sustainable in our ecosystem. We hope this report will help open a global exchange on how we shape the Travel Retail of tomorrow, and we look forward to being part of it."
Séverine Lanthier, Chief Strategy, Development and External Communications Officer and COO Asia, added, "As the only player covering all sectors of Travel Retail and with a portfolio of business covering 42 countries in all areas, we are in a unique position to gather insights from our business partners and share them with all industry players. We feel very privileged to have been able to select so many experts.
In emerging from the crisis, we hope that the Travel Retail Voices report can be a small contribution to provide useful information for the recovery strategies of partners and competitors. Rest assured that we are already working to turn these "voices" and inspirations into concrete innovations."
Travel Retail Voices is a B2B research survey on global Travel Retail trends, developed by Lagardère Travel Retail. It provides insights into the attitudes and behaviors of Landlords and brands toward the current scenario and future prospects of the Travel Retail industry worldwide.
This report, "Shaping a stronger future together," is the first in the Travel Retail Voices series. The information gathered is based on face-to-face interviews with 18 senior executive managers of airports and 7 brands globally, and the results of an online survey of 62 airports and 133 brands in 27 countries in the five geographic areas in which we operate. The interviews and surveys were conducted between November and December 2021.
