ETRC Index reveals strong recovery for European Travel Retail
The European Travel Retail Confederation (ETRC) has released the ETRC Business Performance Index for the year 2022.
According to the ETRC, "In 2022, European airport retailing experienced a significant recovery after the sharp decline caused by the COVID-19 pandemic in the years 2020 and 2021. Key findings from the ETRC Index suggest that in 2022 industry's total value sales and international passengers rebounded to 83% and 80% of the 2019 levels respectively, representing a remarkable improvement of 108% and 120% compared to last year.
"Meanwhile, individual categories have posted varying rates of recovery with all being back to growth compared to 2021. Value sales continue to recover quicker than unit sales, driven by a continued increase in average sales prices across the majority of categories. Spend per passenger remained at a higher level than in 2019 (+4%) while marking a decrease vs. 2021 (-5%)."
The business performance for the last quarter surpassed the full-year performance, with Q4 2022 sales reaching 91% of sales recorded during the same period in 2019.
Julie Lassaigne, Secretary General of ETRC, said, “After incredibly difficult years, it is heartening to see a notable improvement for our industry last year. The recovery trend indicates that 2023 should see business performance close to pre-pandemic levels but the impact of the current inflationary environment calls for caution.“
Developed as an exclusive service to ETRC members, the ETRC Index is compiled by Pi Insight with data contributed by participating Travel Retailers of ETRC and the support of ForwardKeys for passenger data.
