RiptidePR Online Crisis Management Experts
Turn your press releases into high-powered long-lasting Google listings!
Automated Article Publication
-> Drive Traffic
-> Create influence
-> Call RiptidePR
LONDON, UK, August 3, 2022 /EINPresswire.com/ — In 2021 China Duty Free Group (CDFG) maintained its number one position as the leading travel retailer in the world by turnover. That’s according to The Moodie Davitt Report’s latest rankings of the world’s top travel retailers, just released.
CDFG ascended to market leadership after a stellar performance in 2020. Buoyed by another strong year for the Hainan Island offshore duty free business, it extended that lead against its international peers last year.
Its 2021 sales of €9,369 million (converted at 31 December 2021 exchange rates) were more than double the figure of world number two Lotte Duty Free. The Shilla Duty Free, Dufry Group and DFS Group round out the top five against the backdrop of a second COVID-hit year for the industry. Also featuring in the top ten were leading retailers Lagardère Travel Retail, Shinsegae Duty Free and Gebr. Heinemann.
The pandemic again had a clear impact on the industry landscape and on the rankings. The relatively low levels of international traffic across the year had a direct negative effect on the business worldwide.
While Europe and the US showed signs of recovery in the second half – until the Omicron variant caused further shutdowns from November – Asia Pacific markets remained largely closed through 2021. That explains some Asia-based retailers’ slide in the rankings for last year; the recovery now well under way should restore most to their previously elevated positions.
The updated rankings are derived from company reports and The Moodie Davitt Report estimates. They include some alternative online and wholesale figures, duty free and duty paid, plus other channels such as food & beverage, where relevant.
LINK TO FULL REPORT
About The Moodie Davitt Report
The Moodie Davitt Report is published by independent company Moodie International, one of the world’s most successful multi-media business-to-business publishers.