09 Oct Travel retail, the next big thing for brands
While the news is filled with stories about the decline of the high street, a different retail sector is currently flying high.
The travel retail market is growing
There has been a steady increase in international tourism since 2010 and this upward trend is predicted to continue over the next 12 years. This is exciting news for the lucrative travel retail sector, which is experiencing an associated period of growth.
Beauty brands are leading the way
Beauty products, such as perfumes and cosmetics account for around a third of all travel retail sales and have used this platform to sell exclusive items such as convenient, travel-sized versions of their products. This has proved a great way to introduce their brand to new consumers; creating a one-chance-to-buy sense of urgency leading to a quick purchasing decision.
How travel retailers are winning
Casual and luxury brands occupy the same space. Smaller units with open storefronts create a more inclusive and inviting retail environment to a more diverse market. This is different from the traditional retail setting or online shopping experience, where consumers tend to stick with familiar brands.
Like kids in a sweetshop….
This is a captive market where people have time to browse and money to spare. The weak pound also means consumers visiting the UK are getting a better deal.
In this scenario brands can broaden their market appeal, making in-roads with a broad cross section of the public, a chance to explain the brand essence and give insights into the benefits of their products.
The holiday mindset also inspires a more carefree attitude to spending, especially if there is currency left over at the end of a trip. The business traveller often feels the need to reward themselves after time away from home.
Enticing environments encourage brand discovery and indulgence in luxuries that may not be considered under normal circumstances. An element of escapism encouraged by celebrity endorsements takes the whole travel experience to a higher level.
A destination en route to your real destination
The right display with the correct inducements including feature areas to hero products is one way to take advantage, another is pop-up sites which add excitement or theatre without the investment of a permanent build.
Pop-up sites can be changed quickly to match new promotions encouraging further impulse purchases in the same way that they are being used on high street sites.
The recent trend towards higher quality environments merged with The Attic Room’s experience with global brands on the high street and our international duty-free experience puts us in an ideal position to develop stand-out display solutions for your brand.