New information from the International Association of Airport and Duty Free Stores (IAADFS) indicates a positive outlook for travel retail in North America.
IAADFS has released its Business 1rtelligence Service (B1S) recovery monitor for Q2 2021, with data from research agency M1ndset.
According to the report, increased footfall and conversion rates are among “encouraging trends” in the North American market. The numbers were below the global average for the previous four years, but increased in 2021.
This year, attendance in North America reached 39%, surpassing the global average of 37%.
Conversion levels – previously declining both regionally and globally – rose 62% in North America, up from 46% in 2020, compared to the 2021 global average of 59%.
Meanwhile, attendance in Central America and the Caribbean fell 35% in 2021, two points below the global average, although conversion rates in the region have returned to 2019 levels this year.
By 2021, the number of passengers worldwide is expected to return to 52% of pre-pandemic levels; they are expected to exceed pre-pandemic levels by 2023 and reach 5.6 billion by 2030 – a figure 7% lower than the pre-Covid forecast, representing a loss of two to three years of growth .
Anna Marchesini, Head of Business Development at M1ndset, said: âIt is important to take a step back when looking at this data and to have an overview of the positives and negatives when analyzing customer behavior. buyers.
âThere are some fundamental behavioral differences which are quite positive and should be exploited by stakeholders in the industry. It is important to understand not only general trends, but also why certain trends are occurring, where in particular and among which customer segment, in order to make the data more actionable.
IAADFS subscribed to the B1S recovery tracking service earlier this year to receive “access to key traffic trends and behavioral insights.”
Michael Payne, President and CEO of IAADFS, said: âIt’s really interesting to see how the overall picture is developing from quarter to quarter. This will inevitably continue to evolve as the year progresses.
âWhile we hope this development will be for the best, it is important that we, as an association and our members, continue to monitor the evolution of traffic and buyer behavior. We are here in uncharted territory, it is So it’s extremely helpful to have that continuity and support with traffic data and buyer behavior monitoring.