26th TFWA Asia-Pacific Exhibition and Conference Highlights Growth Prospects
The duty-free and travel retail industry is experiencing a gradual recovery despite the economic and geopolitical challenges it faces. This was emphasized by Erik Juul-Mortensen, President of TFWA, during the opening of the 26th TFWA Asia-Pacific Exhibition and Conference.
While the COVID-19 pandemic has had a significant impact on the travel and retail sector, Juul-Mortensen noted that positive signs of recovery are now evident. "We are encouraged by the ongoing recovery in the duty-free and travel retail sector. Travel is slowly but surely picking up, and travelers have started to regain their interest in duty-free shopping. However, it is important to acknowledge the challenges we face and work together to overcome them," stated Juul-Mortensen.
One of the main obstacles mentioned by the TFWA President is the need for airlines to restore their capacity and adapt to the growing passenger demand. High airfares also act as a deterrent for many travelers. Additionally, sanitary restrictions continue to impact certain travelers, thereby limiting the full recovery of the sector.
However, Juul-Mortensen expressed confidence in the industry's resilience and called for a traffic-focused and flexible approach to overcome these obstacles. "We must quickly adapt to the changing needs of travelers and find innovative ways to offer them attractive duty-free experiences. By investing in new technologies and enhancing customer experience personalization, we can create opportunities for sustainable growth," he stated.
The TFWA Asia-Pacific Conference provides a unique platform for duty-free and travel retail industry players to share ideas, explore solutions, and strengthen partnerships. It will continue until June 5, offering participants the opportunity to deepen their understanding of current trends and explore emerging opportunities in the region.
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