TRBusiness: Global Industry Survey 2023: Gauging trading expectations & challenges

“In an addendum to the inimitable annual Global Industry Survey, published in the January 2023 e-zine, TRBusiness is publishing in full a wealth of responses to several pressing questions that offer a crucial temperature check on the health of the global DF&TR industry.

The easing of travel restrictions in most parts of the world has bred accelerated returns in passenger traffic and revenues for retail operators and their partners, yet many countries are contending with rampant inflation, rising energy prices and a cost of living crisis exacerbated by the war in Ukraine. Moreover, the threat of an economic downturn clouds the outlook.

TRBusiness asks the following question: “What are your expectations for your business in travel retail in 2023 and what are the major challenges you anticipate?”

The Global Industry Survey was conducted during November 2022 up until the second week of January 2023. Some of the views expressed are representative of individuals rather than their entire organisations. Some of the comments were also shared prior to China’s announced easing of travel restrictions from 8 January. To access the Global Industry Survey, click here.”

Thomas Henningsen, Partner, Blueprint: “We expect 2023 to be a promising year. We believe that the biggest opportunity travel retail is facing is adapting to the changing traveller profile. By 2028, Next Gen, Gen Z and millennials will represent 60% of travellers. These younger, greener and less affluent travellers will continue to seek out extraordinary shopping experiences, fundamentally changing the brand landscape as we know it.”