Russia Cis Airport Retailing Market is Worth USD 3.48 billion by 2020
- Written by PitchEngine USA
The report “Russia & CIS Airport Retailing Market By Category (Liquor & Tobacco, Perfumes & Cosmetics, Fashion, Food & Confectionery), By Type (Direct Retailer, Department Store, Specialty Retailer, Supermarkets), By Airport Size, and By Geography - Analysis & Forecast to 2020”, defines and segments the Russia & CIS Airport Retailing Market and forecasts the market size, by value and volume,the Russia & CIS airport retailing market to grow from USD 1.56 billion in 2015 to USD 3.48 billion by 2020. This represents a compound annual growth rate of 17.3% from 2015 to 2020.
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The economy of Russia and the CIS countries has been slowing due to the falling energy and commodity prices. As leading oil exporters, the economy of these countries are impacted by the falling oil prices.Moreover, the conflict between Russia and the West over Ukraine adversely affects businesses in Russia and the CIS countries. Despite the continuing economic and social concerns, Russia and the CIS countries have witnessed moderate growth in international passenger traffic.This is mainly due to devaluation of the ruble and other CIS currencies, steep fall in oil prices resulting in cheaper jet fuels, and heavy investments in airport development and expansion. The duty-free airport retailing market in Russia and CIS has witnessed significant growth and the trend is likely to remain the same in the foreseeable future.
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Increase in air traffic in Russia and the CIS has helped airports and airlines to earn higher non-aeronautical revenues, especially in the duty-free retailing market. To sustain profitability, airline operators and airports have to emphasize on strengthening their business relationships, work on decreasing air fares, and enhance airport retail experiences to attract large customer base.Stakeholders have also realized the importance of non-aeronautical business and their contribution towards securing targeted revenues, which have led to constant growth of the Russia & CIS duty-free travel retail market.
Key players in the Russia & CIS Airport Retailing Market are -
- Dufry
- Gebr. Heinemann
- Baltona Duty Free
- RegStaer Duty Free
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