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Duty Free Cosmetic Sales Soar

Updated Sep 1, 2007

The largest growing sector in the cosmetic and personal care sector according to new reports is the travel and duty free retail sector. Based on figures released by Generation Group, a Swedish market report firm, this sector grew by 13 percent in 2006. This increase resulted in sales surpassing $8 billion dollars and amassing in excess of 29 percent of the total beauty market for the period. This growth is surprising as industry experts had forecast that sales in this sector would fall due to new regulations at airports in light of terrorism fears.

 

Since the start of 2007 sales have stalled somewhat due to various economic woes which have impacted the spending power of travelers. As such when compared to 2006, duty free sales have increased by only seven percent.

 

Written by the CareFair.com Editorial Team.


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