Boston, MA -- (SBWIRE) -- 09/11/2014 -- Travel retail in Singapore showed continued growth in 2013 despite the slow global economy. As the Singapore dollar remained strong, outbound travel to long haul destinations such as Europe increased, thus, bringing more business to travel retail. As consumers became well-educated, increased demand for exotic destinations such as Africa and South America was observed. Travel planning to exotic destinations by consumers usually requires the expertise of travel agents as consumers are not as familiar as compared to regional destinations. Not to mention, the existence of technology and online media allowed consumers to gain easy access to travel information, promotions and advertising.

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Industry Prospects

Travel retail is projected to register a value CAGR of 2% at constant 2013 prices over the forecast period, as the middle class in Singapore becomes more educated and more affluent and able to travel. This process is also aided by the wide choice of low cost carriers and availability of travel packages by travel retailers conveniently located in Singapore's retail malls and online channels. In addition, affordable and competitive tour package prices offered by travel retailers, even when in comparison with booking via direct suppliers, are also appealing. However, outbound tourism in Singapore is limited due to the size of the domestic market which might restrict overall growth for travel retail in terms of value sales.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Travel Retail industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Travel Retail industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Travel Retail in Singapore 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 Singapore?
- What are the major brands in Singapore?
- 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?

Reasons to Get this Report

- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions

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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