Recently Released Market Study: Travel Retail in Hungary
There were several factors that had a negative impact on the performance of travel retailers in 2012. The value decline that started in 2008 due to the economic crisis continued in 2012. This was exacerbated by the intense expansion of online tourism and the general trend of trading down in travel and tourism following the rapid development of low cost carriers. Travel retailers suffered a decline of 9% in value terms in 2012, due to the steep decline of 12%...
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