EXPLORING THE SIXTH CONTINENT

摘要

Travel retail is a sector to be taken very seriously. Valued at over US$60bn, this so-called sixth continent' is a great place to be. It's growing and it's resilient. But it remains volatile and has been undergoing massive transformation over the last few years. Growth has slowed in recent times, but while we in the travel retail business might grumble among ourselves about this situation, we have to remember that many of our colleagues who operate on the high street can only dream of these sorts of figures. The increase in travel retail spend has fallen over the past year from 7.5% in 2013 compared with 2012 to 5.8% in 2014 compared with 2013. However, general retail sales in the US grew by an underwhelming 3%, according to the US Census Bureau, while in Japan they fell by a depressing 1%, according to the Ministry of Economy, Trade and Industry.