Duty-Free Retailing is one of the fastest-growing trends in the duty discount industry. The profitability of duty-free stores is constantly affected by external factors beyond the control of the retailer. Thus the market growth is attributed to expanding travel & tourism industry and increasing number of air travel passenger around the globe.
However, with time, several strategies have been developed by duty-free retailers so that their customers can get a better understanding of how exactly they can get huge profits from this business. Some of these strategies involve proper marketing of products to make them familiar to the general masses. There are several tactics adopted by these retailers to enhance the sales of their products. They employ strategies such as putting banners on the walls of departmental stores, offering promos and discounts, free delivery to a specific destination among others to promote the sale of their merchandise.
Several firms have their outlets at various airport stations across the country. A large number of travelers visiting the country often need to check out duty-free retail shops before they head back home. These stores offer major discounts on their products and thus attract more travelers to the airport stations. This increases the sales of these products and helps the duty-free retail shops to make huge profits from the business. As more travelers become aware of the duty-free retailing benefits at the many airports across the world, shoppers are choosing to travel light while they are abroad. To save money, they are looking for convenient, low-cost, and value-added shopping experiences. The online venues have made it easy for travelers to purchase goods that are often purchased in bulk at discount prices from specialty shops.