PUBLISHER: IMARC | PRODUCT CODE: 1554502
PUBLISHER: IMARC | PRODUCT CODE: 1554502
Japan travel retail market size is projected to exhibit a growth rate (CAGR) of 5.58% during 2024-2032. The launch of policies by government bodies to promote international tourism, along with the inflating popularity of pre-ordering applications, is primarily driving the market growth.
Travel retail pertains to the transaction of goods and services for travelers while in transit. This commerce typically takes place in transit settings, like airports or harbors, where customers need to show evidence of nationality or journey to enter the shopping zone. The retail outlets also process payments that cover local taxes and duty charges. Additionally, travel retail can be found in hotels, border boats, international flights, ferries, cruises, and other sea vessels on international routes. Items frequently sold in travel retail encompass cosmetics and personal care items, fragrances, high-end spirits, tobacco, edibles and drinks, fashion add-ons, and electronic gadgets. Typically necessitates the buyer to stay abroad for a specified duration, and the retail outlets process payments that encompass both local and national taxes, as well as duty charges.
The surge in travel and tourism is a primary contributor to the regional market. Travel retail and duty-free outlets constitute a significant chunk of non-aeronautical income for airports, given the growing trend among shoppers to buy upscale and luxurious items during their journeys. In this context, an increasing preference for high-end wines and spirits among global travelers is further fueling the market expansion. Furthermore, the emergence of digital platforms for travel retail is bolstering the market's trajectory. Vendors are extensively showcasing their offerings on online sites and mobile apps, allowing patrons to reserve items ahead and effortlessly retrieve them upon reaching their destination. In addition to this, technological innovations, like the introduction of touchscreen and interactive retail terminals, are acting as significant growth-inducing factors. Moreover, these autonomous terminals foster passenger interaction, delivering streamlined product selection and payment processes. Other driving forces encompass rising consumer spending power and the introduction of supportive government strategies emphasizing international tourism, particularly in emerging economies, signaling a promising growth trajectory for the market.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type and distribution channel.
The report has provided a detailed breakup and analysis of the market based on the product type. This includes beauty and personal care, wine and spirits, tobacco, food and confectionary, fashion accessories and hard luxury, and others.
A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes airports, airlines, ferries, and others.
The report has also provided a comprehensive analysis of all the major regional markets, which include Kanto Region, Kansai/Kinki Region, Central/ Chubu Region, Kyushu-Okinawa Region, Tohoku Region, Chugoku Region, Hokkaido Region, and Shikoku Region.
The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Company names have not been provided here as this is a sample TOC. Complete list to be provided in the final report.