CHINA TRAVEL RETAIL MARKET FORECAST 2025-2032

Another key driver of the market is the rise of the ‘bleisure’ trend, as business and leisure travel intersect due to the growing prevalence of remote working. Industry sources indicate that more than 60% of business travelers are anticipated to blend work and personal trips during the forecast period. This shift has led to a heightened demand for flexible travel options, boosting the appeal of local duty-free shopping and leisure destinations. 

The China duty-free retail market has also gained from the growth of digitization and innovative marketing strategies. Lockdown measures and travel restrictions accelerated the shift to digital platforms, loyalty programs, and targeted advertising, allowing retailers to better engage with consumers. Digital advertising, a key component of China’s marketing strategy, has experienced rapid growth and is projected to reach RMB 963 billion (~$132 billion) by 2024, further fueling the expansion of the travel retail industry.

The future outlook for China’s travel retail market is promising, driven by strategic developments such as the Hainan Free Trade Port and new duty-free shopping centers outlined in the 14th Five-Year Plan. Investments in multi-functional retail spaces, like the Shanghai International Cruise Tourism Resort, reflect the shift towards ‘retail-tainment,’ blending shopping, entertainment, and cultural experiences. As these trends continue to evolve, China is inclined to strengthen its position as a global leader in travel retail, offering a wide range of integrated consumer experiences.

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The report on the China travel retail market includes a segmentation analysis based on product type and distribution channel.

Market by Product Type:

• Fashion and Accessories
• Jewellery and Watches
• Wine & Spirits
• Food & Confectionery
• Fragrances and Cosmetics
• Tobacco
• Other Product Types

Market by Distribution Channel:

• Airports
• Railway Stations
• Other Distribution Channels

Inkwood Research’s report on the China travel retail market provides in-depth insights as well as the market’s segmentation analysis. The detailed evaluation of the market includes PESTLE Analysis, Market Maturity Analysis, Market Concentration Analysis, Key Buying Criteria, and Competitive Landscape. 

Some of the prominent players in the China travel retail Market are China Tourism Group Duty Free Corporation Limited, Lagardère Travel Retail Group, etc. 

China Tourism Group Duty Free Corporation Ltd is a leading provider of tourism and retail services. The company offers a wide range of travel solutions, including services for domestic, inbound, and outbound tourism. Its portfolio includes group and individual tours, corporate travel, leisure activities, sports events, sightseeing trips, study tours, conventions, and specialized niche-interest tours. The company also manages individual travel bookings and operates online tourism platforms and travel agency services. Headquartered in Beijing, China, China Tourism Group has operations across China, Macao, Cambodia, Taiwan, and Hong Kong.