m1nd-set Research, a leading consumer insights company, has conducted a study on the preferences of non-shoppers in the travel retail industry. The study highlights that the perception of value is a crucial factor in enticing non-shoppers to make purchases in the travel retail environment.
At mindit.io, travel retail is our main area of expertise, where we help our partners become the worldwide leaders in their sectors and geographic zones. We have designed and built a set of enterprise applications that offer control on every aspect of the go-to-market flow: from acquisition, dispatching, applying corporate pricing and promotion strategies to selling.
The travel retail industry, which includes duty-free shops in airports, cruise ships, and other travel hubs, has long been a popular destination for shoppers looking to take advantage of tax-free prices on a wide range of products, including luxury items such as fragrances, cosmetics, and electronics. However, not all travelers make purchases at travel retail outlets, and understanding the preferences of non-shoppers is essential for businesses in this industry.
According to the study conducted by m1nd-set Research, the perception of value is a key factor in attracting non-shoppers to make purchases at travel retail outlets. The study found that non-shoppers are more likely to be enticed by discounted prices, special promotions, and exclusive offers.
In fact, 70% of non-shoppers surveyed stated that discounted prices would encourage them to make a purchase at a travel retail outlet, while 62% indicated that they would be motivated by special promotions and exclusive offers.
In addition to value perception, the study also identified other factors that could influence non-shoppers' purchase decisions in travel retail. The convenience of the shopping experience, product availability, and the ability to sample products were also found to be important factors.
Non-shoppers were more likely to make a purchase if the shopping experience was easy and convenient, if the products they were interested in were available, and if they were able to sample products before making a decision.
The study also revealed that non-shoppers tend to have specific preferences when it comes to product categories.
Fragrances and cosmetics were found to be the most appealing product categories for non-shoppers, with 51% indicating an interest in fragrances and 46% expressing an interest in cosmetics. Other popular product categories among non-shoppers included confectionery, spirits, and electronics.
The findings of this study by m1nd-set Research highlight the importance of understanding the preferences of non-shoppers in the travel retail industry. By focusing on value perception, convenience, product availability, and offering opportunities for sampling, travel retail businesses can better entice non-shoppers to make purchases.
Discounted prices, special promotions, and exclusive offers can be particularly effective in attracting non-shoppers and converting them into customers. Additionally, paying attention to specific product categories that are appealing to non-shoppers, such as fragrances and cosmetics, can also lead to increased sales in the travel retail environment.