ARGENTINA. InterBaires has generated a +37.9% year-on-year increase in duty free spend per passenger for the seven months ended July and a +13.6% increase in the average price per transaction. The figures cover all the retailer’s airport operations in Argentina.
CEO Enrique Urioste told The Moodie Report that sales were up year-on-year by +68% for the period with penetration (defined here as those passengers who buy) rising from 14.19% last year to 17.24% this year.
Average spend per passenger has risen to US$11.77, up from just US$8.53 last year. Growth in sales and spend per head has outstripped the increase in passengers, which stands at +18.9% year-on-year to 3.4 million. The average ticket price stands at US$68.28, up +13.6% from US$60.13 last year.
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| Enrique Urioste says that 2004 will be a very good vintage for InterBaires in Argentina |
As their economy strengthens, Argentineans are spending more, with their spend per passenger up by +35.8% for the year to date. The international spend per passenger has also risen impressively, up by +39.3% over the same period in 2003.
The improvement in penetration is being driven by the new shops. At Buenos Aires Ezeiza Airport, the recent opening of the new departures shop in terminal “˜A’ has boosted penetration by +30% said Urioste. Similarly, penetration in the new shop “˜3′ in “˜B’ has lifted levels by +27.9%.
Brazilians and Chileans have been the key foreign spenders this year, representing 23.1% and 21.2% of international sales respectively.
As revealed back in February by The Moodie Report, InterBaires is budgeting sales of US$71 million this year.
NOTE. InterBaires is the subject of the next edition of The Moodie Report PLUS, our popular series of in-depth, analytical features on individual retailers or retail locations. Earlier editions were dedicated to the Dufry sale, Hong Kong International Airport and King Power Duty Free Company (Thailand). For earlier editions, click here.
MORE STORIES ON INTERBAIRES
Buenos Aires Airport comes alive with the feel, flair and fashion of Argentina – 28/07/04
InterBaires customers embark on winter adventure – 27/07/04
InterBaires unveils dynamic winter promotion – 14/07/04
Interbaires set to showcase local fashion; new departures and arrivals stores in August – 01/07/04
InterBaires sales rocket by +72% as promotional push and store investment pays off – 12/05/04
