Happi Staff10.02.20
Duty-free is off-duty and will remain so for years, say industry experts. Through nine months, most players in the duty-free fragrance and cosmetics business say sales plunged up to 95% as business and leisure travel disappeared due to COVID-19. As a result, most experts say it will be 2023 before travel-retail sales return to 2019 levels.
Still, there have been signs of a return to travel—especially in Asia and, in particular, China. For example, in August, duty-free spending on Hainan Island soared more than 220% to about $837 million, according to China Customs.
Want more good news? In surveys, grounded travelers say they will return to airport stores when flight schedules return to normal. One caveat, they'll try to spend less time at the airport than they did pre-COVID-19.
Still, there have been signs of a return to travel—especially in Asia and, in particular, China. For example, in August, duty-free spending on Hainan Island soared more than 220% to about $837 million, according to China Customs.
Want more good news? In surveys, grounded travelers say they will return to airport stores when flight schedules return to normal. One caveat, they'll try to spend less time at the airport than they did pre-COVID-19.