Asian duty-free market soars

Endaba Group

One to watch – the Asian duty-free market! The market is growing 5 times the global growth rate as sales rose by 5% in the first quarter in Asia-Pacific, compared to the global growth of just under 1%. While other sectors of the international retail market are struggling, the duty-free sector has grown steadily for the past 6 years and 2016 figures show a positive continuation. Fragrance and cosmetics sales were up 7.8% and this category is the main driver of global growth. International tourist arrivals were up 4% in 2015 to reach a record of 1.2 billion, 50 million more than in 2014!