In the past, one was most likely to find duty free shops and magazine stores at airports. However, due to longer lay-overs, delays and larger airports, luxury retail stores are the norm selling high-end watches, designer purses and custom-made suits.
Implications - One of the airports that give a great example of this is the Heathrow Airport in London, England. The new terminal is set to open up in March 2008 and is expected to be a shopping extravaganza for those people waiting to catch their plane. The airport has partnered with high-end department store Harrods, which will feature a luxurious two-floor shopping destination. Some people may be more excited about their terminal than their flight destination!
Airports as Shopping Destinations
Airports As Shopping Destinations
Trend Themes
1. Luxury Retail in Airports - Expanding luxury retail options in airports provide disruptive innovation opportunities for high-end brands to tap into the captive audience of travelers.
2. Partnerships Between Airports and Retailers - Forming partnerships between airports and high-end retailers allows for the creation of unique shopping experiences, enhancing airport terminals' appeal as destinations in themselves.
3. Airport Shopping Experiences - Creating immersive and enjoyable shopping experiences in airports presents disruptive innovation opportunities to reinvent the perception of airports as mere transit hubs.
Industry Implications
1. Luxury Retail - The luxury retail industry can leverage the expansion of retail in airports to reach affluent travelers and generate additional revenue streams.
2. Travel and Tourism - The travel and tourism industry can benefit from enhanced airport shopping experiences as it provides an additional attraction for travelers, contributing to the overall tourism experience.
3. Airport Infrastructure - The airport infrastructure industry can explore opportunities to design and develop airport terminals with a focus on creating immersive and engaging retail environments.