FRANCE/INTERNATIONAL. Lagardère Travel Retail today published its first ‘Travel Retail Voices’ report, which captures the views of management at more than 200 airports and brands, in 27 countries, about the COVID-19 crisis and recovery.
A quantitative online survey was complemented by more than 25 face-to-face interviews, revealing insights into how airports and brands plan to respond to changing consumer trends and profiles. Other themes include digitalisation, sustainable business practices and partners’ views about changing business relationships and models, and ways to innovate in travel retail.
The findings reveal that industry players are broadly confident in the rebound. A majority (53%) of respondents said the channel will only be ‘Slightly challenged’ in a post-Covid environment. Most airports and brands also expect international travel to reach 2019 levels by 2024.
The survey also asked respondents to rank the biggest challenges facing the industry over the next two years. Many cited the rise of ecommerce and a changing traveller mix (leisure vs business and international vs local or regional) alongside reduction of dwell time and the environmental impact of aviation.
Airports and brands also broadly aligned in their views that convenience (through quick and seamless store experiences) will be a vital factor in addressing updated consumer expectations. Airports also homed in on the need to enhance in-store ‘phygital’ experiences, seamless checkout and click-and collect options.
Importantly too, 61% of airport companies surveyed said that concession fees should be adapted to the new environment post-COVID-19.
Lagardère Travel Retail Chairman & CEO Dag Rasmussen said: “If the crisis has taught us one thing it is that strong partnerships are essential to everyone’s success. Rebuilding will be a collective effort and we must learn from our partners, be inspired by them to create the more resilient and more sustainable future of our ecosystem. We hope this report can contribute to opening a global conversation about how we shape the travel retail of tomorrow, and we look forward to being part of it.”
Chief Strategy, Development and External Communications Officer and COO Asia Séverine Lanthier added: “As the only player covering all segments of activities in travel retail and with a portfolio of operations spanning 42 countries in all regions, we are in a unique position to gather insights from our business partners and share them with everyone in the industry.
“We feel greatly privileged and inspired to have been able to pick the brains of so many experts. As we emerge from the crisis, we hope that the Travel Retail Voices report can be a small contribution to informing partners’ and peers’ recovery strategies. Be ensured we are already working on transforming these voices and inspirations into actionable innovations.”
The report, the first in the Travel Retail Voices series, is titled ‘Shaping a stronger future together’ to recognise how cooperation in the industry ecosystem is critical to its future. The interviews and surveys were conducted in November and December 2021.
