Travel Retail Market Forecasted at $150.38 Billion by 2028, Driven by the Rising Demand for Personalized Shopping Experiences and Growing Utilization of Technology to Enhance Customer Inte...
DUFRY AG UNSP/ADR (DUFRY)
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Source: Yahoo! Finance
The travel retail market size has grown rapidly in recent years. It will grow from $79.24 billion in 2023 to $90.41 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth observed in the historical period can be attributed to factors such as increased disposable income, a rise in global urbanization, the expansion of the leisure and tourism industry, the development of airports and other travel hubs, and a growing demand for luxury goods. The travel retail market size is expected to see rapid growth in the next few years. It will grow to $150.38 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The anticipated growth in the forecast period can be attributed to factors such as increasing globalization, a rising demand for personalized shopping experiences, the growing utilization of technology to enhance customer interactions, an increased demand for sustainable and eco-friendly products, and a growing preference for online travel retail. Notewo
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