Airport retail business tops $1 billion mark in 2011

The airport retail business revenues, according to Asipac Projects, have surpassed the mark of $1 billion in 2011, with the rise in passenger traffic and as more people shop on the go. Beauty, personal care, alcohol and tobacco emerged as the top three categories in the duty-free section, while food & beverage, books, periodicals and stationery took the top spot within the duty-paid segment.
Delhi’s T3, which has a retail area of around 2 lakh sq ft, is built to tap the potential of retail revenues. Moreover, looking at the retail business growing, airport operators like GMR and GVK, who started off with sky-rocketing rental rates, are now moving towards a revenue-share model.
The business, according to the consultancy, is growing at 17-18 per cent annually, emerging as a viable platform for retailers and operators of the new airports.