Boston, MA -- (ReleaseWire) -- 08/01/2014 -- Travel retail posted robust current value growth of 12% in 2013 owing to the increasing awareness of the importance of leisure travel for personal wellbeing, supported by rising disposable incomes. More Chinese consumers tended to choose travel as the priority for relaxation purposes from the pressures of studying and working life, so that they gradually enhanced the frequency, time duration as well as their budgets for leisure travel, thus boosting total expenditure on travel retail overall in 2013.
Travel retail car rental is set to record the best performance of the major categories over the forecast period, with sales expected to grow at a CAGR of 24% at constant 2013 prices. With expected growth of dynamic packages and increasing demand for enjoying self-drive experiences during these journeys, consumers are likely to prefer personalising their trips and routes by booking car rental together with other products, such as travel accommodation and flights, through the one-stop platforms that travel retailers offer. The strategic investment of Ctrip.com International in leading car rental operators expresses the confidence and ambition of online travel retailers into the rise of the car rental industry over the forecast period. Following in the steps of Ctrip.com International, some other players are also likely to become involved in car rental, to tap into huge potential and enhance their competitiveness.
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Discover the latest market trends and uncover sources of future market growth for the Travel Retail industry in China with research from Euromonitor's team of in-country analysts.
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If you're in the Travel Retail industry in China, our research will save you time and money while empowering you to make informed, profitable decisions.
The Travel Retail in China market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Travel Retail in China?
- What are the major brands in China?
- Is there movement away from accommodation only and flight only to package holidays?
- Are value added segments like spa packages and cruise performing well?
- Is online travel retail outpacing offline sales?
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Product coverage: Travel Retail Sales by Category, Travel Retail Sales by Channel, Travel Retail Sales by Corporate Business vs Leisure.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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