LIBs outperform the global average on both conversion and average transaction value.

New research from travel retail research agency m1nd-set is challenging one of the sector’s most persistent assumptions: that lower-income travellers are lower-value shoppers.

Data from m1nd-set’s Business 1ntelligence Service (B1S), which marks its tenth anniversary this year, shows that so-called low income buyers (LIBs) are in fact among the most efficient and impactful shopper segments in global duty free. Despite accounting for just 12% of the global duty free buyer population, making them the smallest of m1nd-set’s five core segments, LIBs outperform the global average on both conversion and average transaction value.

According to the research, while low income buyers are slightly less likely to enter a store, once inside they convert more effectively than any other shopper group. They are also more engaged with digital touchpoints, more responsive to innovation and more likely to interact with sales staff than higher-income segments traditionally viewed as more valuable.

“Low income buyers are often misunderstood in travel retail,” said Dr Peter Mohn, CEO and Owner of m1nd-set. “The data clearly shows that this is not a low-value audience. While they may be slightly less likely to enter a store, once inside they are the most efficient converters.”

Demographically, LIBs tend to skew younger than the global average, driven by a higher proportion of millennials and a slight underrepresentation of older shoppers. Globally, Millennials account for around 42% of low income buyers, compared to 38% across all duty free shoppers. Regional differences are also notable. Africa and the Middle East host the youngest LIB profiles, with an average age of 38, while the Americas show a stronger female skew than the global norm.

Digitally, LIBs stand out as the most connected segment in global duty free. Online channels are their strongest awareness drivers, outperforming both airport media and inflight communication. More than half of low income buyers notice digital touchpoints before travelling, the highest rate of any shopper group. At the same time, they are the least planning-oriented shoppers in the channel. Only around two-thirds plan their purchases in advance, resulting in the highest impulse purchase rate across all segments at 34%.

This combination of digital awareness and spontaneity creates a fertile environment for discovery and innovation. The research shows that low income buyers outperform the global average when it comes to first-time purchases and travel retail exclusives. In total, 65% of LIBs buy either a duty free exclusive or a product they have never owned before, reinforcing the importance of novelty and differentiation for this audience.

Human interaction also plays a critical role in driving spend. More than 55% of low income buyers engage with sales staff, the highest interaction rate of any shopper segment. Of those interactions, 75% result in a positive influence on purchase, 29% lead to a change from the shopper’s original intended product, and 17% say they would not have purchased at all without staff input.

“The income label masks a very strategic mindset,” Mohn explained. “This is a highly selective shopper; their spend reflects quality, usefulness and relevance rather than volume.”

While low income buyers purchase the same average number of categories per transaction as the broader shopper base, their impact comes from a strong appetite for discovery and exclusivity rather than basket size. The segment shows a clear preference for higher-value, practical categories such as electronics, watches, skincare, alcohol and gifting, often choosing fewer items but with greater perceived value.

m1nd-set describes this behaviour as an “efficiency paradox”. Low income buyers enter duty free with the intention of saving money, but those perceived savings act as a trigger for higher-value spending. Combined with the airport’s unique psychological environment, this creates a shopper who is spontaneous, curious and highly responsive to advice.

“Efficient conversion, high-quality spend, digital fluency and openness to innovation make low income buyers a segment that punches well above their weight,” Mohn concluded. “Far from being low value, they are one of duty free’s most underestimated growth drivers.”

For brands and retailers, the message is clear: value in travel retail is no longer defined by income alone, but by mindset, engagement and the ability to connect with shoppers at the right moment in their journey.

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