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Airport Retailing - Europe - March 2013

“Airport retailing has been remarkably resilient because even when passenger numbers have fallen, sales per customer have continued to rise. And we expect that pattern to continue. Increased tourism and business travel, especially from Russia and China, should underpin any shortfall from recession-bound Europe.”

– Richard Perks, Director of Retail Research

When Mintel last published a report on European airport retailing in 2010, the outlook was, to say the least, uncertain. The global recession of 2009 had taken a severe toll on all aspects of economic activity and passenger numbers fell significantly.

Since then the European economy has struggled and we have had the beginnings of a euro-zone crisis. This is far from over and major uncertainties still hang over the future of the euro and of the southern European economies. As this report is published attention is focused on Cyprus. There’s always the possibility that such a crisis will be the last straw, though at present it looks as if the eurozone will be able to muddle through this one as it has through the other crises of the last 12 months.

But airports are international businesses and for all the local economic problems there is growth in other parts of the world, especially China and Russia, which is driving both business and tourist traffic. This tends to be highly profitable traffic for the airports and is one of the reasons why turnover per passenger has been steadily increasing.

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Table of contents

  1. Introduction

      • Abbreviations and definitions
        • Definitions
          • Financial definitions
            • Abbreviations
            • Executive Summary

                • Passenger traffic
                  • Passenger spend
                    • Market size
                      • Innovations
                        • Consumer
                          • Leading airport operators
                          • Issues in the market

                              • How bad is the outlook?
                                • How is it that sales per passenger are still growing?
                                  • Can they continue to do so?
                                    • Product mix – more luxury?
                                      • Time for more services?
                                        • Do airport shops need to be cheaper?
                                        • Trend Application

                                            • Trend: Immaterial World
                                              • Trend: Real Thing
                                                • 2015 Trend: Access Anything, Anywhere
                                                • Internal Market Environment

                                                  • Key points
                                                    • Progressive slowdown in air passenger traffic
                                                      • Only Dublin and Gatwick buck downturn in passenger growth
                                                        • Figure 1: Top 30 European airports, passenger numbers, 2009-12
                                                      • Pressure exerted by low-cost airlines on airport revenues
                                                        • One-bag carry-on rule threat to airport shopping
                                                          • Growth in long-haul demand for travel to Europe
                                                            • High street online price comparison habit extending to airports
                                                              • Lengthy security checks hamper the airport experience
                                                                • Incentivising passenger spend at airports
                                                                  • The effect of EU emissions trading scheme on passenger flights
                                                                    • ‘Airport city’ developments offer retail concessionary opportunities
                                                                    • Broader Market Environment

                                                                      • Key points
                                                                        • Modest recovery in Europe expected towards the end of 2013
                                                                          • Figure 2: EU 27 GDP, GDP per capita, real gdp growth and consumer price inflation, 2005-14
                                                                        • Household spending recovers after the deep recession of 2009
                                                                          • Figure 3: EU 27 Household expenditure at current prices, total and per capita, 2005-13
                                                                        • Retail sales growing, albeit at a slower pace
                                                                          • Figure 4: EU 27 Retail sales and retail sales per capita, 2005-15
                                                                        • Pick-up in sentiment points to renewed confidence in the region
                                                                          • Figure 5: EU 27 Economic Sentiment Index, February 2012-January 2013
                                                                        • Europe’s ageing population
                                                                          • Figure 6: EU 27 Population age structure, 2005-12
                                                                      • European Airport Retail Market

                                                                        • Key points
                                                                          • Market size
                                                                            • Airport operators – total turnover
                                                                              • Figure 7: Leading airport operators, total reported revenue, 2008-12
                                                                            • Retail turnover
                                                                              • Figure 8: Non-aviation turnover by the leading airport operators, 2008-12
                                                                            • Passenger numbers
                                                                              • Figure 9: Leading European countries, airline passengers, 2008-12
                                                                            • Market size estimates
                                                                              • Figure 10: European Airports, retail sales at current prices, 2008-12
                                                                          • The Consumer and Airport Shopping

                                                                            • Key points
                                                                                • Figure 11: Usage of airports for business or holidays in the last two years, by country, January 2013
                                                                                • Figure 12: Profile of those who have flown in the last two years, January 2013
                                                                              • Attitudes to airport shopping
                                                                                  • Figure 13: Attitudes to shopping at airports, by country, January 2013
                                                                                • Capitalising on a captive audience
                                                                                  • National variations
                                                                                  • Who’s Innovating?

                                                                                    • Key points
                                                                                      • Ikea’s pop-up airport lounge
                                                                                        • Shop before you fly from the comfort of your home
                                                                                          • Mobile apps open up possibilities for air passengers
                                                                                            • Virtual shopping walls
                                                                                              • Figure 14: Tesco virtual store in Gatwick Airport
                                                                                            • The airport lounge where everything on show can be bought
                                                                                              • Figure 15: Almost@home lounge, Helsinki Airport
                                                                                            • Local products shop
                                                                                              • Figure 16: Made of Portugal, Portfolio, Lisbon Airport
                                                                                            • Video rental at the terminal
                                                                                              • Figure 17: Digiboo digital film rental kiosk
                                                                                            • Innovative walk-through duty-free store
                                                                                              • New interactive electronics shop concept for tech-savvy travellers
                                                                                                • Vending machine that capitalises on human emotion at airports
                                                                                                  • Figure 18: BannerXpress Vending Machine
                                                                                                • The smart way to buy duty free when you fly
                                                                                                • Leading Airport Operators

                                                                                                  • Key points
                                                                                                    • Aena tops total turnover table
                                                                                                      • Figure 19: Leading European airport operators, total turnover in €m, 2011
                                                                                                    • Aena is Europe’s top non-aviation revenue generator
                                                                                                      • Figure 20: Leading European airport operators, commercial revenue in €m, 2011
                                                                                                    • Retail revenue
                                                                                                      • Figure 21: Leading European airport operators, retail revenue in €m, 2011
                                                                                                  • Aena Aeropuertos

                                                                                                      • What we think
                                                                                                        • Company background
                                                                                                          • Company performance
                                                                                                            • Figure 22: Aena consolidated annual performance, 2008-12
                                                                                                            • Figure 23: Aena Aeropuertos, commercial revenue breakdown, 2011
                                                                                                          • Retail offering
                                                                                                          • Aeroporti di Roma

                                                                                                              • What we think
                                                                                                                • Company background
                                                                                                                  • Company performance
                                                                                                                    • Figure 24: Aeroporti di Roma, financial performance, 2008-Sep 2012
                                                                                                                  • Retail offering
                                                                                                                  • Aeroports de Paris

                                                                                                                      • What we think
                                                                                                                        • Company background
                                                                                                                          • Company performance
                                                                                                                            • Figure 25: Aeroports de Paris, financial performance, 2009-12
                                                                                                                            • Figure 26: Aeroports de Paris, commercial revenues breakdown, 2011-12
                                                                                                                          • Retail offering
                                                                                                                          • Dublin Airport Authority

                                                                                                                              • What we think
                                                                                                                                • Company background
                                                                                                                                  • Company performance
                                                                                                                                    • Figure 27: Dublin Airport Authority, financial performance, 2008-12
                                                                                                                                    • Figure 28: Dublin Airport Authority, turnover breakdown, 2008-12
                                                                                                                                  • Retail offering
                                                                                                                                  • Flughafen Munchen (FMG)

                                                                                                                                      • What we think
                                                                                                                                        • Company background
                                                                                                                                          • Company performance
                                                                                                                                            • Figure 29: Flughafen Munchen Group, financial performance, 2008-12
                                                                                                                                            • Figure 30: Flughafen Munchen Group, revenue breakdown, 2008-12
                                                                                                                                          • Retail offering
                                                                                                                                          • Fraport Group

                                                                                                                                              • What we think
                                                                                                                                                • Company background
                                                                                                                                                  • Company performance
                                                                                                                                                    • Figure 31: Fraport, financial performance, 2008-12
                                                                                                                                                    • Figure 32: Fraport, Retail revenue breakdown, 2008-12
                                                                                                                                                  • Retail offering
                                                                                                                                                  • Gatwick Airport

                                                                                                                                                      • What we think
                                                                                                                                                        • Company background
                                                                                                                                                          • Company performance
                                                                                                                                                            • Figure 33: Gatwick Airport Ltd, financial performance, 2008-12
                                                                                                                                                            • Figure 34: Gatwick Airport Ltd, Selected revenue breakdown, 2008-12
                                                                                                                                                          • Retail offering
                                                                                                                                                          • Heathrow (SP) Ltd

                                                                                                                                                              • What we think
                                                                                                                                                                • Company background
                                                                                                                                                                  • Company performance
                                                                                                                                                                    • Figure 35: Heathrow (SP) Ltd, Financial performance, 2008-12
                                                                                                                                                                    • Figure 36: Heathrow (SP) Ltd, Selected revenue breakdown, 2008-12
                                                                                                                                                                  • Retail offering
                                                                                                                                                                  • Manchester Airports Group

                                                                                                                                                                      • What we think
                                                                                                                                                                        • Company background
                                                                                                                                                                          • Company performance
                                                                                                                                                                            • Figure 37: Manchester Airports Group, financial performance, 2009-12
                                                                                                                                                                            • Figure 38: Manchester Airports Group, revenue breakdown, 2009-12
                                                                                                                                                                          • Retail offering
                                                                                                                                                                          • Oslo Lufthavn

                                                                                                                                                                              • What we think
                                                                                                                                                                                • Company background
                                                                                                                                                                                  • Company performance
                                                                                                                                                                                    • Figure 39: Oslo Lufthavn, financial performance, 2008-12
                                                                                                                                                                                    • Figure 40: Oslo Lufthavn, revenue breakdown, 2008-12
                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                  • Schiphol Group

                                                                                                                                                                                      • What we think
                                                                                                                                                                                        • Company background
                                                                                                                                                                                          • Company performance
                                                                                                                                                                                            • Figure 41: Schiphol Group, financial performance, 2008-12
                                                                                                                                                                                            • Figure 42: Schiphol Group, consumer products and services performance, 2011-12
                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                          • SEA Milan Airports

                                                                                                                                                                                              • What we think
                                                                                                                                                                                                • Company background
                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                    • Figure 43: SEA Group, financial performance, 2009-12
                                                                                                                                                                                                    • Figure 44: SEA Milan Airports’ area devoted to shops (square metres), 2009, 2010 and 2011
                                                                                                                                                                                                    • Figure 45: Milan Malpensa Retail spend per passenger, by nationality, 2012
                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                  • Swedavia

                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                            • Figure 46: Swedavia, financial performance, 2010-12
                                                                                                                                                                                                            • Figure 47: Swedavia, commercial services revenue, 2011-12
                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                          • Vienna International Airport

                                                                                                                                                                                                              • What we think
                                                                                                                                                                                                                • Company background
                                                                                                                                                                                                                  • Company performance
                                                                                                                                                                                                                    • Figure 48: Flughafen Wien Group, financial performance, 2008-12
                                                                                                                                                                                                                    • Figure 49: Flughafen Wien Group, revenue by segment, 2008-12
                                                                                                                                                                                                                  • Retail offering
                                                                                                                                                                                                                  • Zurich Airport

                                                                                                                                                                                                                      • What we think
                                                                                                                                                                                                                        • Company background
                                                                                                                                                                                                                          • Company performance
                                                                                                                                                                                                                            • Figure 50: Flughafen Zurich, financial performance, 2008-12
                                                                                                                                                                                                                            • Figure 51: Flughafen Zurich, commercial revenue breakdown, 2008-12
                                                                                                                                                                                                                          • Retail offering
                                                                                                                                                                                                                          • Leading Airport Retailers

                                                                                                                                                                                                                            • Key points
                                                                                                                                                                                                                              • Autogrill leads the pack in Europe
                                                                                                                                                                                                                                • Figure 52: Leading airport retailers, sales, 2012
                                                                                                                                                                                                                            • Aelia

                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                      • Figure 53: Aelia, sales breakdown, 2012
                                                                                                                                                                                                                                    • Store portfolio
                                                                                                                                                                                                                                    • Autogrill

                                                                                                                                                                                                                                        • What we think
                                                                                                                                                                                                                                          • Company background
                                                                                                                                                                                                                                            • Company performance
                                                                                                                                                                                                                                              • Figure 54: Autogrill, financial performance, 2008-12
                                                                                                                                                                                                                                              • Figure 55: Autogrill, revenue breakdown, 2008-12
                                                                                                                                                                                                                                            • Store portfolio
                                                                                                                                                                                                                                            • Belgian Sky Shops

                                                                                                                                                                                                                                                • What we think
                                                                                                                                                                                                                                                  • Company background
                                                                                                                                                                                                                                                    • Company performance
                                                                                                                                                                                                                                                      • Store portfolio
                                                                                                                                                                                                                                                      • Dufry

                                                                                                                                                                                                                                                          • What we think
                                                                                                                                                                                                                                                            • Company background
                                                                                                                                                                                                                                                              • Company performance
                                                                                                                                                                                                                                                                • Figure 56: Dufry, financial performance, 2008-12
                                                                                                                                                                                                                                                                • Figure 57: Dufry, sales by region, 2012
                                                                                                                                                                                                                                                                • Figure 58: Dufry, sales by product category, 2012
                                                                                                                                                                                                                                                              • Store portfolio
                                                                                                                                                                                                                                                              • Gebrüder Heinemann

                                                                                                                                                                                                                                                                  • What we think
                                                                                                                                                                                                                                                                    • Company background
                                                                                                                                                                                                                                                                      • Company performance
                                                                                                                                                                                                                                                                        • Store portfolio
                                                                                                                                                                                                                                                                        • Kappé International

                                                                                                                                                                                                                                                                            • What we think
                                                                                                                                                                                                                                                                              • Company background
                                                                                                                                                                                                                                                                                • Store portfolio
                                                                                                                                                                                                                                                                                • The Nuance Group

                                                                                                                                                                                                                                                                                    • What we think
                                                                                                                                                                                                                                                                                      • Company background
                                                                                                                                                                                                                                                                                        • Company performance
                                                                                                                                                                                                                                                                                          • Figure 59: The Nuance Group, financial performance, 2008-11
                                                                                                                                                                                                                                                                                          • Figure 60: The Nuance Group, percentage revenue by category, 2011
                                                                                                                                                                                                                                                                                        • Store portfolio
                                                                                                                                                                                                                                                                                        • Appendix – The Consumer and Airport Shopping

                                                                                                                                                                                                                                                                                            • Figure 61: Usage of airports for business or holidays in the last two years, France, Germany, Italy, Spain, by demographics, January 2013
                                                                                                                                                                                                                                                                                            • Figure 62: Usage of airports for business or holidays in the last two years, by demographics, France, January 2013
                                                                                                                                                                                                                                                                                            • Figure 63: Usage of airports for business or holidays in the last two years, by demographics, Germany, January 2013
                                                                                                                                                                                                                                                                                            • Figure 64: Usage of airports for business or holidays in the last two years, by demographics, Italy, January 2013
                                                                                                                                                                                                                                                                                            • Figure 65: Usage of airports for business or holidays in the last two years, by demographics, Spain, January 2013
                                                                                                                                                                                                                                                                                            • Figure 66: Usage of airports for business or holidays in the last two years, by demographics, UK, January 2013
                                                                                                                                                                                                                                                                                            • Figure 67: Most popular attitudes to shopping at airports, France, Germany, Italy, Spain, by demographics, January 2013
                                                                                                                                                                                                                                                                                            • Figure 68: Next most popular attitudes to shopping at airports France, Germany, Italy, Spain, by demographics, January 2013
                                                                                                                                                                                                                                                                                            • Figure 69: Other attitudes to shopping at airports France, Germany, Italy, Spain, by demographics, January 2013
                                                                                                                                                                                                                                                                                            • Figure 70: Most popular attitudes to shopping at airports, by demographics, France, January 2013
                                                                                                                                                                                                                                                                                            • Figure 71: Next most popular attitudes to shopping at airports, by demographics, France, January 2013
                                                                                                                                                                                                                                                                                            • Figure 72: Most popular attitudes to shopping at airports, by demographics, Germany, January 2013
                                                                                                                                                                                                                                                                                            • Figure 73: Next most popular attitudes to shopping at airports, by demographics, Germany, January 2013
                                                                                                                                                                                                                                                                                            • Figure 74: Most popular attitudes to shopping at airports, by demographics, Italy, January 2013
                                                                                                                                                                                                                                                                                            • Figure 75: Next most popular attitudes to shopping at airports, by demographics, Italy, January 2013
                                                                                                                                                                                                                                                                                            • Figure 76: Other attitudes to shopping at airports, by demographics, Italy, January 2013
                                                                                                                                                                                                                                                                                            • Figure 77: Most popular attitudes to shopping at airports, by demographics, Spain, January 2013
                                                                                                                                                                                                                                                                                            • Figure 78: Next most popular attitudes to shopping at airports, by demographics, Spain, January 2013
                                                                                                                                                                                                                                                                                            • Figure 79: Other attitudes to shopping at airports, by demographics, Spain, January 2013
                                                                                                                                                                                                                                                                                            • Figure 80: Most popular attitudes to shopping at airports, by demographics, UK, January 2013
                                                                                                                                                                                                                                                                                            • Figure 81: Next most popular attitudes to shopping at airports, by demographics, UK, January 2013
                                                                                                                                                                                                                                                                                            • Figure 82: Other attitudes to shopping at airports, by demographics, UK, January 2013

                                                                                                                                                                                                                                                                                        Companies Covered

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                                                                                                                                                                                                                                                                                        Airport Retailing - Europe - March 2013

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