Airline retailing market in global is expected to grow from US$ 7.25 Bn in 2018 to US$ 27.66 Bn by the year 2027. This represents a CAGR of 16.4% from the year 2019 to 2027.
North America was the leading geographic market, and it is anticipated to be the highest revenue contributor throughout the forecast period. The North America airline retailing market size is expected to gradually increase in the coming years till 2027, owing to the increasing number of air travelers in the region.
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- Air France/ KLM
- AirAsia Group Berhad
- British Airways Plc
- Deutsche Lufthansa AG
- Easy Jet PLC
- Korean Air Lines Co., Ltd
- Qantas Airways Limited
- Singapore Airlines Limited
- Thai Airways International Public Co., Ltd
- The Emirates Group
The airline sector is a highly competitive market. The operational costs of airline are very high, and the demand is subject to significant seasonal fluctuations. With the increasing number of airline companies, businesses are looking for alternatives that could help airlines to gain an edge in the competitive market. In order to gain an edge in the market, the airline companies are highly focused on enhancing its services for high customer satisfaction.
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Advanced technology and customer intelligence are enabling new opportunities for improving customer experiences. Implementation of customer intelligence is enabling new opportunities for airline retail. The airline has a captive audience and extensive customer knowledge, enabled by digital application, can be stimulated with smart and entertaining in-flight retail opportunities utilizing emotional momentum. Most of the airlines are on the learning curve when it comes to retail opportunities. With the external recruits, who have experience in retail, airlines are improving their retail performance. Big data utilization is also impacting airline retail and is optimizing customer value and experiences. With the introduction of advanced technologies and the increasing demand for enhanced customer experience are significantly driving the airline retailing market.
The global airline retailing market by carrier type was led by full service carrier segment. In the financially balanced economies of North America and the Europe region, the preference of full service carriers is much higher as compared to the low cost carriers. The key reason behind the preference is the attractive deals and services the full service airlines offer to their passengers.
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This post was originally published on The Picayune Current