Lagardère Travel Retail publishes second report in 'Travel Experience Voices' series

The 'Pathways to growth' survey was conducted in January and February 2023

As part of its 'Travel Experience Voices' series, Lagardère Travel Retail has published results from a wide-ranging survey of industry partners that builds on more than 20 face-to-face interviews with top airport and brand executives across the globe.

According to the brand, "This report, named 'Pathways to growth', showcases how industry stakeholders are taking proactive measures to prepare their businesses for the future, and to play their part in creating a more sustainable Travel Retail and Dining industry."

Conducted in January and February 2023, the survey gathered responses from executives at 66 airport companies and 144 brands across 29 countries.

"It has been fascinating to witness how our industry has switched from survival to growth mode and how quickly it has found a sense of normality again," says Dag Rasmussen, Chairman & CEO, Lagardère Travel Retail, in the report. "Yet, market dynamics are changing fast and all of us have to define new strategies to adapt to the new playground, seize emerging opportunities and counter headwinds.

"Today we are at a crossroads and the decisions we make now will define our ability to succeed in the years to come. I believe that we have a major opportunity, as the Travel Retail & Dining community, to learn and be inspired by each other as we shape our future."

Key findings touch on areas such as: Tackling Climate Challenges, Supporting Employee Engagement, Celebrating Culture and Communities, and Innovating to Elevate the Travel Experience.

Tackling Climate Challenges: 83% of airports and 70% of brands have specific carbon reduction targets in their CSR strategy. For airports, recycling and waste management form the top actions to reduce emissions. 17% of airports plan to reach net zero emissions before 2030, and 27% between 2030 and 2040.

Employee Engagement: 41% of brands and airports plan to support the physical and mental wellbeing of their staff as an employee engagement strategy. 40% also intend to invest in skills development, and 37% aim to promote flexible working schemes.

Innovating to Elevate the Travel Experience: Airports and brands state 'experience and retailtainment' as the consumer trend most likely to influence the future of airport retail and F&B.

Celebrating Culture and Communities: 74% of airports and brands believe that ‘Sense of Place’ should be regarded as a category in its own right and should benefit from a specific operating model. 83% are developing actions to support the community, such as promoting local employment, promoting local sourcing and donations/fundraising.

In conclusion, the report notes, "The Travel Retail & Dining industry is experiencing a significant shift in its mindset towards positive change... This journey towards positive change has led to companies becoming more people-centric than ever before, with a focus on futureproofing their businesses for a stronger future. By embracing a collaborative and innovative approach, stakeholders are working towards creating an ecosystem that overcomes barriers, generates greater value for society, and creates unrivaled travel experiences."

The full report can be found here.