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in Latin America Four representatives—ACI South America, Airlines for South America, IATA, and ETRC—joined forces to launch the destination summer campaign to promote the safe resumption of South American travel and tourism. The campaign's non-essential travel objectives include the creation of a digital COVID-19 certificate and the construction of dependable, affordable rapid COVID testing facilities. The summer destination campaign promotes cooperation in order to strengthen commerce and travel, hence increasing retail sales of duty-free goods.
South America Duty-free Retail Market Report Scope and Research Methodology:
The market report provides historical data and revenue growth estimates at the regional and country levels, as well as a full analysis of South America Duty-free Retail market trends in each of the main segments and its sub-segments from 2022 to 2029. The Stellar Market Research team's major research approach is data triangulation, which includes an investigation of the impact of data variables on the South America Duty-free Retail market, data mining, and primary (industry expert) validation. The research paper discusses the past and present state of the South America Duty-free Retail market. predicted trends and size. The study report provides an easy-to-understand examination of the South America Duty-free Retail market's intricate statistics. SWOT analysis was utilized to identify the strengths, weaknesses, opportunities, and threats for major players in the South America Duty-free Retail industry, and a bottom-up technique was employed to estimate market size.
South America Duty-free Retail Market Report Overview:
The forecast was created mostly by analysing historical data and current market trends in the South America Duty-free Retail Market. It includes market size, share, regional analysis, dynamics, CAGR, and future trends, making the study a useful reference for investors because it provides a forward-looking picture of the South America Duty-free Retail Industry.
South America Duty-free Retail Market Size was valued at USD 16.5 billion in 2022. The South America Duty-free Retail Market size is estimated to grow at a CAGR of 4.3 % over the forecast period.
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South America Duty-free Retail Market Regional Analysis:
The South America Duty-free Retail Market research examines all regions: Europe, North America, Asia-Pacific, the South America Duty-free Retail , and Latin America. The report provides the current condition and prediction for the regional South America Duty-free Retail market in terms of market size, share, and volume.
South America Duty-free Retail Market Segmentation:
South America's market is divided into categories such as cigarettes, alcohol, cosmetics, and perfumes. Perfumes are predicted to dominate the market throughout this time period. High-end fragrances are sold at duty-free retailers all around the world through well-known worldwide networks. Affluent foreign travelers frequently visit duty-free stores to purchase perfumes from well-known international names like as Giorgio Armani, Al Haramain Dazzle Intense, Belle, Signature Rose, Signature Silver, and Khulasat Al Oud. scent or De Perfume, Eau De Perfume (EDP), Eau De Toilette (EDT), and Eau De Cologne are all scent variations that can be acquired through substantial distribution channels (EDC).
According to the sales channel, the market is segmented into groups based on airports, ships, seaports, train stations, and other sites. Airports account for the vast majority of all merchandise sales. The growing number of domestic and international airports in all countries favors product sales via this distribution channel. Several improvements in the "airports" category demonstrate the growing number of duty-free stores in airports around the world. A duty-free shop would be established at Thiruvananthapuram International Airport by the middle of May 2022, according to a declaration made in April 2022 by the Adani Group, an Indian integrated corporate conglomerate, and Flemingo, a Dubai-based operator.
This tactical move (new establishment) also draws attention to the market's rising rivalry. Seaports are also necessary for the distribution of duty-free goods, especially in South American markets. Ports, like airports, assist brands of various commodities in being more prominent on the market. In November 2017, the South American Tourism Development Corporation Ltd (ITDC), a branch of the Ministry of Tourism, announced plans to construct duty-free stores in all major seaports by 2021. Recent port advancements provide tempting economic opportunities to potential market participants.
South America Duty-free Retail Market Key Players:
AUSTIN
Lagardere
Dufry
Travel retail Norway
Hellenic Duty-free shops
The loop
Logas Frances
DFS
ATU
Key Questions answered in the South America Duty-free Retail Market Report are:
What are the South America Duty-free Retail market segments?
Which region of the South America Duty-free Retail market is expected to grow at a high rate during the forecast period?
What is the expected CAGR of the South America Duty-free Retail market during the forecast period?
What are the emerging trends in the South America Duty-free Retail market?
What are the factors restraining the South America Duty-free Retail market growth?
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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