Left: Vibrant shopping at ATÜ Duty Free, a joint venture between TAV Airports Holding and Unifree Duty Free/Gebr. Heinemann. Right: Florian Seidel, Chief Sales Officer, Gebr. Heinemann.

Florian Seidel, Chief Sales Officer, Gebr. Heinemann, is taking a measured view of 2026 yet expects fast-paced change on the horizon, with the belief that the travel retail industry will continue to redefine itself by embracing digitalisation, personalisation and sustainability.

Here, he shares his thoughts for the Global Industry Survey 2026…

How would you assess the global travel retail industry in 2025?

2025 has been a year of significant challenges and decisive moments for the global travel retail industry. Persistent geopolitical tensions, rerouted flows (e.g. around Russian airspace) and economic uncertainty continue to impact consumer confidence, while the absence of Chinese customers and growing competition from online and domestic retail add further complexity.

Spend per passenger (SPP) remains under pressure worldwide, reflecting structural changes in shopping behaviour and value perception. In addition, currency fluctuations have created volatility in pricing and margins, adding another layer of complexity for operators and suppliers.

Yet, these headwinds also highlight opportunities: travel retail is evolving – becoming more digital and more experiential.

Within this environment, Gebr. Heinemann had a strong year: Our diversified footprint across regions (Europe, Middle East & Africa, Asia Pacific, Americas), channels (airports, border shops, cruise & ferries, airlines, special channels) and categories (Liquor/Tobacco/Confectionery, Beauty, Fashion & Accessories and others) makes us resilient in todays transformed market landscape.

Key milestones for Gebr. Heinemann in 2025 include: the takeover of Keflavik Airport (Iceland), strengthening our Nordic presence; the opening of Antalya’s 10,000 sqm retail space, consolidating our leadership in Turkey; and celebrating the opening of our new shops in Jeddah, a further strategic step into one of the most dynamic and fast-growing regions.

The Middle East & Africa region stands out as a highly dynamic market environment, offering strong growth potential and new partnership opportunities.

Wines and spirits showcase at Keflavik International Airport.

What are your expectations for travel retail in 2026?

We expect 2026 to be a year of cautious optimism and accelerated transformation for travel retail. While global uncertainties will not disappear overnight, we anticipate a gradual recovery in international travel: The Middle East and Africa remain a main growth market; India can be highlighted as a key travel retail market in APAC.

The industry will continue to redefine itself by embracing digitalisation, personalisation and sustainability as core pillars. Travel retail remains a unique channel, and in 2026 we believe it will regain momentum as travellers seek experiences that combine convenience, exclusivity and emotional connection.

For Gebr. Heinemann specifically, we expect 2026 to be another year of growth, driven by new and recently opened locations (e.g. Jeddah, Keflavík, Noida, major cruise projects) which will unfold their full potential in 2026, by further optimisation of our assortments and by our ongoing transformation into the most human-centric company in global travel retail.

We believe that, given today’s volatile conditions, contractual models in travel retail must evolve. The Minimum Average Guarantee (MAG) is still common, but in times of fluctuating passenger numbers it creates significant risk for both sides. More flexible, passenger-based models not only balance revenue sharing and risk but also enable investments in the further development of travel retail.

Gebr. Heinemann’s CSO Florian Seidel believes travel retail is evolving to become more digital and more experiential.

What do you expect will be the biggest opportunities for the DF&TR industry in 2026?

To name a few opportunity areas: emerging markets and new travel corridors; experience and services as differentiators; and cruise, ferries and special channels.

What action needs to be taken to restore confidence in the duty-free price promise moving forward?

Transparency is key: clear, consistent price communication across all touchpoints, including digital channels, so customers can easily compare and trust what they see. Second, we must reinforce the emotional value of duty-free with exclusive products, curated assortments, and experiences that cannot be replicated elsewhere.

Focus on what duty-free does best: combinations of value, exclusivity and experience: It’s not only about ‘-20% vs. downtown’. It’s about curated assortments, travel retail exclusives, gifting solutions, services and immersive experiences that travellers cannot easily replicate elsewhere.

Gebr. Heinemann took over the concession for operating duty-free stores at Keflavik International Airport in the spring of 2025.

What do you expect to be the biggest breakthrough in the way technology can be utilised to give your business a boost in the channel?

Technology will be the key driver of transformation in travel retail, and the biggest breakthrough will come from fully integrating digital and physical touchpoints to create a seamless, personalised shopping journey.

For Gebr. Heinemann, this means leveraging data and AI to predict customer needs, optimize assortments, and deliver tailored offers in real time. Omnichannel solutions such as pre-order platforms and mobile engagement will allow us to connect with travellers before they even arrive at the airport.

At the same time, we never lose sight of what defines us: we are a human-centric company, and our business is rooted in brick-and-mortar retail. Human interaction and personal service will always remain essential to creating memorable experiences for travellers.

A version of this article first appeared as part of the Global Industry Survey 2026, which featured in the January 2026 issue of TRBusiness.

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