Early analysis of the results for the 2024 Global Industry Survey reveals over three quarters (76%) of respondents think the coming year’s travel retail trading environment will be “better” than 2023.
Furthermore, over half (59%) of respondents believe that the rising cost of travel and inflationary pressures across the globe will have just a “moderate” effect on spend per passenger next year.
The question is, do you agree?
These early indicators extracted from the responses to the 2024 Global Industry Survey so far, in advance of the full report being published in January, suggest that the majority of duty free and travel retail (DF&TR) stakeholders are looking to 2024 with confidence.
However, the sentiment may yet evolve, as there are still two weeks left to take part in the Global Industry Survey, which invites industry stakeholders to air their views in TRBusiness’ annual state-of-the industry report.
Your contribution is vital in helping us to shed light on the major dynamics on the radar next year.
‘The Global Industry Survey is an essential temperature check on the state of the industry, drawing upon the business intelligence of duty free and travel retail stakeholders around the world to create a data-rich and insight-packed editorial for the benefit of the industry as a whole,” said Nigel Hardy, Co-Owner & Joint Chief Executive Officer, TRBusiness.
“Furthermore, it’s a vital reference tool for stakeholders at all levels and a valuable source of information that can be utilised as a reference tool throughout the year to help inform decision-making.”
This edition of the Global Industry Survey is extra special as it is marking its milestone 20th anniversary year in 2024.
You can take a look at the first ever published report in the January 2004 issue of TRBusiness via the link below.
Global Industry Survey celebrates 20-year anniversary
Building on the survey’s rich heritage, this year’s edition contains a thought-provoking lineup of 11 questions, covering pertinent talking points, such as factors influencing spend per passenger and conversations around minimum annual guarantees.
As is customary, the report will include responses from leading retail CEOs, associations, airport operators and a broad cross section of other travel retail stakeholders.
The full results and a selection of comments will be published in the TRBusiness January 2024 ezine and/or online at TRBusiness.com.
It takes just 20 minutes, on average, to complete* so is the ideal coffee break activity.
It has been a peak week for responses to the Global Industry Survey, as many DF&TR stakeholders around the world prepare for an end-of-year break.
But there’s still plenty of time to take part, with the survey open until 11am GMT on Thursday 4 January 2024.
It’s quick and easy to air your views thanks to our streamlined online portal.
TRBusiness would like to take this opportunity to thank all those who have already participated and offer advance thanks to those who are planning to complete it over the festive period.
Stay close to TRBusiness for the full results.
*Based upon response times up until 20 Dec.