India likely to be among top 10 duty-free markets by 2025
Moodie Davitt Report states that the duty-free market in India is growing at a very rapid pace.
NEW DELHI: India is expected to be in the top 10 markets in the duty-free segment by 2025, according to the Moodie Davitt Report.
According to the Moodie Davitt Report, the global travel retail and the duty-free market is roughly 79 billion, as of 2018 and based on the current growth trend, India is most likely to rank among top 10 market in duty-free by 2025. The report further states that the duty-free market in India is growing at a very rapid pace.
The Indian duty-free market is witnessing a significant increase in consumer interest in categories such as perfumes, cosmetics, fashion and apparels.
Apart from these, souvenir items also appeal to the foreign nationals and are usually part of their basket mix in purchases at departures at airports, including Delhi, the Moodie Davitt Report says.
Perfumes and cosmetics and fashion and accessories are among the luxury items that move the quickest on duty-free shops at the airports across India.
Brands like Chanel, Dior, Armani, Gucci, EsteeLauder, MAC are some of the most popular P&C brands, whereas n fashion and apparels categories, brands like (Omega, Breitling, Rado, Tag Heuer etc in watches), (Hugo Boss, Michael Kors, Coach, Bally, Armani Exchange, Victoria Secret in apparels and accessories) and writing instruments (Mont Blanc) are also popular in duty free segment.
Apart from this, select luxury brands in liquor are also available in the duty-free market to cater to premium buyers.
Replying to a question how buyers can save most while buying duty-free products, the Moodie Davitt Report suggests them to do some research work and compare duty-free prices between the source and destination airports at any time through their journey.
The buyers can go through the respective duty-free websites, social media handles like Instagram, apps like Jessica’s Secret etc to stay updated on the latest offers.
Value-added services like pre-order on website, shop and collect etc can fetch travellers additional discounts on their booking.