Incheon Airport Duty Free’s sales set new record in 2017
Incheon Airport Duty Free’s annual sales climbed to US$2.1 billion in 2017, smashing the records set in previous years.
Sales at the South Korean gateway in Seoul rose 4.1% despite the THAAD missile deployment crisis and North Korean security issues.
Incheon International Airport confronted these challenges by diversifying its customer demographic, offering customer-friendly promotions with experiences, and inviting diverse global and local brands, together with the increasing passenger traffic, the operator said.
Cosmetics and perfumes continued to be the best-selling category, generating US$774 million in turnover, accounting for 38% of total annual sales. Liquor and tobacco followed with US$459 million, while leather goods achieved sales of US$301 million.
“Thanks to such breakthroughs, Incheon Airport Duty Free has been acknowledged by global awards such as Business Traveller US and Asia-Pacific seven years in a row, and Business Traveller China for four consecutive years,” the operator noted in a press release.
Incheon Airport Duty Free is expected to maintain its reputation as the best airport duty free with the new Terminal 2, which will open on January 18, 2018.
In T2, there will be six duty free operators (Shilla, Lotte, Shinsegae, SM, Entas, and Cityplus) across 9,597 square meters.
The terminal’s flagship stores will offer unique shopping experiences, the company said.
For example, the cosmetics flagships will stage make-up shows in vibrant environments. Brands will include Chanel, Dior, Sulwhasoo, Lancôme, SK2, and Estée Lauder.
The liquor and tobacco flagship stores will feature tasting bars and “exceptional design”, the operator said, for brands including Ballantine’s, Johnnie Walker, Royal Salute, Hennessy, KT&G, and IQOS.
In the central luxury boutique street, there will be 20 boutique brands. Brands exclusive to T2 – Chanel, Valentino, Chloe, Rimowa and Etro – will have an eye-catching design and offer exclusive items.
To mark the 2018 Pyeongchang Winter Olympics, which will be held from February 9, Incheon Airport Duty Free aims to keep up the sales momentum as it seeks to lead the global travel retail business with the best airport shopping environment.