COVID-19 will strike off US$50bn from the global duty free market in 2020
COVID-19 will cause 2020 global duty free spend to plummet 68.4% (equivalent to US$50bn) versus GlobalData’s pre-crisis market size, declining 65.4% on 2019. While lockdown procedures across the global are gradually being lifted and replaced with social distancing and personal safety measures, the global duty free market will be the last retail channel to see a return in traffic as consumers avoid travel abroad, says GlobalData, a leading data and analytics company....