TR Consumer Forum 2024 : Peter Mohn delivers opening address in Dubai

By Benedict Evans |

The 2024 TR Consumer forum is being held at the Jumeirah Creekside Hotel in Dubai, 3-5 June.

Salah Tahlak, Deputy Managing Director, Dubai Duty Free (DDF) took to the stage on day one (3 June) at the 2024 TR Consumer Forum to welcome delegates, followed by an opening address from Peter Mohn, CEO & Owner of m1nd-set, exclusive consumer research partner for the TR Consumer Forum.

Summer has started early in Dubai, Tahlak noted as he addressed TR Consumer Forum delegates in one of his first official industry engagements following his recent appointment, alongside that of Ramesh Cidambi, who as Managing Director of DDF will deliver the keynote on Day 2 of the Forum.
Thirty delegates from DDF are in attendance at the Forum this week, part of the 220-strong list of delegates.
Taking to the stage, m1nd-set’s Mohn came equipped with new data that breaks down statistical changes in the global share of duty free and travel retail sales by product category; international departures; and the evolving demographics of travellers, plus their wants and needs.

“When I set m1nd-set up 18 years ago, there were almost no dedicated insights in travel retail,” said Mohn, adding: “I remember going to [TFWA] Cannes where only the big brands even thought to listen to consumers. Now hundreds of brands look to how they can meet and exceed customer expectations.”

Exclusive m1nd-set data

Mohn also addressed regional differences within the data, singling out the Middle East as a resurgent region of sustained growth, while highlighting the prominence of European and Asia Pacific travellers within the overall percentage of travellers by nationality on a global scale.

He then shifted his focus to the performance of the cruise segment, which he noted shows immense promise, especially with forecasts which extend to 2027 and show (potential) double-digit growth in pax.

Mohn commented that North America has and will remain consistent as the top region for cruise, and pointed to the changing demographic(s) of travellers as a separate point of interest globally.

Mohn on stage at the 2024 TR Consumer Forum, presenting new, exclusive data on mega-trends in travel retail.

Mohn also delved into mega-trends impacting travel retail, including a deep-dive into engagement with duty free shops – broken down by target groups – comparing footfall rate with conversion rate, broken down by generation.

He predicted necessary changes are afoot for the industry as Gen Z consumers rapidly move towards becoming a majority demographic within travel retail.

Commenting on the data, Mohn said: “It’s so important for us to engage digitally, however there is a level of spontaneity to younger consumers which means in-store merchandising is still incredibly important in engaging travellers.”

“It is extremely important to be authentic and trustworthy. Greenwashing will be shared on social media ruthlessly. It’s okay to admit mistakes.”

 

READ MORE: M1nd-set publishes new research into luxury shopping trends in travel retail

READ MORE: DFWC Q1 2024 KPI Monitor indicates rise in duty free impulse purchases

READ MORE: Alcohol insights: Conversion up, spend down in Q4

International

OUT NOW: June/July issue + Top 10 Airports

The TRBusiness June/July 2024 edition, featuring the Top 10 Airports report, is now available...

International

TR Consumer Forum 2024 photo gallery now live

The TR Consumer Forum 2024 was packed with memorable moments, from the very first networking...

The Americas

Avolta expands US presence with 15-year contracts at John Wayne Airport

Avolta is set to grow its presence at John Wayne Airport in Orange County, California, through a...

image description

In the Magazine

TRBusiness Magazine is free to access. Read the latest issue now.

E-mail this link to a friend