CHINA/SINGAPORE. China Duty Free Group (CDFG) has highlighted its long-term growth strategy at the recently concluded TFWA Asia Pacific Exhibition & Conference in Singapore.
The event, which marked the 40th anniversary of the Tax Free World Association (TFWA), gathered industry leaders from around the globe.
CDFG, the event’s diamond sponsor, was represented by a high-level delegation led by President Luke Chang, Vice President Zhao Feng and Assistant President Michelle Sun.
The world’s leading travel retailer said the delegation engaged in productive discussions with industry partners throughout the event.
Among the highlights of this year’s TFWA Conference was the China Watch Workshop on 14 May which focused on China’s current position regarding the latest airport developments as well as macro trends shaping the Hainan offshore duty-free market.
The workshop featured CDFG Senior Vice President of Marketing, Branding and Public Relations Matt Liao, who shared his insights into the latest industry trends in his presentation titled ‘Opportunities and Development’.
Liao shone a light on the positive outlook for the sector, citing a more relaxed travel environment, a vibrant market, and the ongoing implementation of key policies and national strategies such as the Hainan Free Trade Port.
He noted that these factors present significant growth opportunities for the industry.
Liao also laid out CDFG’s strategic plans for capitalising on these opportunities. This includes growing the company’s channel network by focusing on popular tourist destinations, accelerating overseas expansion and expanding its presence at key domestic airports and border points.
In addition, CDFG noted that it will enhance its downtown store operations by keeping a close watch on policy changes and adjusting plans accordingly. The company added that it will bolster its presence in Hainan by promoting the development of key stores towards differentiated and diversified business models.
As the tourism market recovery continues to gain momentum, the company has also emphasised new growth opportunities for the global travel retail market.
The group plans to leverage its existing brand, supply chain and channel advantages backed by the strong support of China Tourism Group, “to expand vigorously into international markets while maintaining a strong domestic presence”.
CDFG has pledged to remain committed to collaborations within the industry to deliver a wider range of high-quality products and services to consumers.
The travel retailer also underlined its plans to “seize new opportunities” in the domestic travel retail market and to support the global success of the channel. ✈
