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Tag: Duty-free retailing

  • BMW and Daimler may combine forces to compete with Uber

    BMW and Daimler may combine forces to compete with Uber

    Automakers have been dabbling in the ride-sharing industry, but Uber remains the titan to beat. In true “Power Rangers” fashion, two automakers are reportedly forming a Megazord of ride-sharing in order to bring the fight to Uber’s doorstep.

    BMW and Daimler may combine their ride-sharing efforts to better compete with Uber, citing sources speaking to Germany’s Manager Magazin. BMW operates DriveNow (called ReachNow in the US), and Daimler runs Car2Go, both of which have achieved some success in the US, but not enough to tackle Uber.

    In addition to that pairing, the companies are reportedly considering adding other mobility services into the fold. Back in July, Daimler merged its Mytaxi service with Hailo, another cab-hailing startup. Daimler also operates Moovel, which includes a booking and payment system for various mobility services. BMW also operates ParkNow and ChargeNow. It’s reasonable that many of these operations could be lumped together under the same name.

    Neither BMW nor Daimler immediately responded to a request for comment.

    Uber has been on a tear lately. It finally worked with cities to get ride-sharing pick-ups and drop-offs at certain airports. It’s also dabbling in autonomy, most recently rolling out some self-driving Volvos in San Francisco, but the legality of that arrangement is still up in the air. But it’s not all flowers and gentle breezes with the ride-sharing titan, which constantly finds itself the subject of some gnarly lawsuits.

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  • Global duty free retailing to hit US$98 billion

    Global duty free retailing to hit US$98 billion

    Global duty-free retailing is expected to reach nearly US$98 billion in revenue by 2019, according to a new study by global technology research and advisory company Technavio.

    With the expansion of low-cost airlines, many middle-class travellers are taking inexpensive holidays, a trend that has helped the Asia Pacific and Middle East emerge as the fastest-growing regions for duty-free retail marketing, says Technavio analyst Vijay Sarathi.

    He says China, India, Indonesia, South Korea and Sri Lanka were among some of the most-desired inexpensive destinations in 2014.

    “During the same period, it is estimated that international tourist inflow in APAC increased to almost 263 million travellers, and it has largely helped the market grow until 2019.”

    Just released in London, Technavio’s report, Global Duty-Free Retailing Market 2015-2019, provides an in-depth analysis of market growth in terms of revenue and emerging market trends.

    By products, the global duty-free retailing market for 2014 comprised fashion accessories and hard luxury (32.1 per cent), perfume and cosmetics (29.21 per cent), wines and spirits (16.02 per cent), tobacco (12.43 cent), and confectionery and fine food (10.25 per cent), says the report.
    It says the fashion, accessories and hard luxury segment was valued at close to $20.81 billion, with the most in-demand products including precious jewellery, briefcases, handbags and shoes. The more popular brands include Armani, Burberry, Fossil, Gucci and Michael Kors.
    Technavio researchers say Chinese travellers emerged as the largest consumers of luxury brands last year, contributing nearly 25 per cent of global revenue.
    The perfumes and cosmetics segment is one of the fastest-growing categories in the global duty-free retailing market. APAC and the Middle East are the key regions for this category, with some of the top-selling brands including Chanel, Christian Dior, Estee Lauder and Guerlain.

    With close to 21.5 per cent of revenue share in the category, L’Oreal created a division especially for duty-free stores in 2013, describing the division as “the sixth continent”. In 2014, L’Oréal launched theVichy and Kerastase brands in the duty-free retail segment in Asia, and also launched the Three-Minute Beauty program to engage with potential luxury product buyers at airports.
    The liquor category is expected to grow to $13.47 billion in 2019. In 2014, Diageo opened two Johnnie Walker Houses in duty-free shops in India and Taiwan.

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