DFNI associate editor, ALISON FARRINGTON reports on the travel retail beauty opportunity for Chinese New Year
Chinese New Year is upon us and travel retailers across Asia have been creating special promotions designed to attract passengers for the biggest Chinese shopping opportunity of the year. Travel retail or duty free shoppers are big business. Often referred to as the ‘Sixth Continent’, in 2018 the global market was worth $79bn.
Beauty remains the biggest and fastest-growing product sector in travel retail, while Asia Pacific is the category’s main growth driver. In 2018 the region saw beauty sales grow 23.5% to a total of $31.5bn. Beauty and fashion accessories are the biggest pull for Chinese travellers eager to snap up seasonal limited editions at the airport. This year’s theme is Year of the Rat (sometimes interpreted as a mouse) and we’ve seen brands adopting characterful themes such as Rocket Rat and even Mickey Mouse. (more…)