Duty Free Retailing Market is set to rise on a transitional note with the partnership between 3Sixty Duty Free and Grab which aims to provide pre-order service
Duty free retailing market is rising due to an increase in people's desire for distinctive and adventurous tourism experiences, as well as an increase in middle-class people's income and a rising desire to spend more money on shopping. Likewise, growing airport investment to boost retail outlets, as well as the construction of new airports, are likely to generate profitable prospects for the duty free retailing market. In February 2021, Hainan Tourism Investment Duty Free Co. Ltd. partnered with Lagardere Travel Retail to aid expansion of duty-free retail stores across China. Duty free retails offer shoppers the benefit of buying products without paying any duty or tax. Duty-free retailing is buying of products in stores existing at ferries, cruise, and airports where there is no tax levied on the sold items. Duty free retails are not outlets that sell regular products to customers, but those that have an agreement with the government to sell duty-free items only. A duty fr...