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A holistic view of India’s travel retail landscape K earney Senior Partners Victor Dijon and Neelesh Hundekari shared a compelling real-world case study, combining traffic and retail data with more than 20 in-depth interviews across airports, retailers, and global brands – offering a holistic view of India’s travel retail landscape. “India’s travel retail market could triple by 2030, with growth of retail outpacing air passenger volume, as both domestic and international hubs are evolving fast,” Dijon and Hundekari explained. “Retailers are upgrading from transactional to premium experiences, while brands tap into new consumer segments beyond traditional duty free categories.” Kearney has identified five strategic growth frontiers for the travel retail market in India: • Capitalising on increasing airport privatisation • Improving the underpenetrated departure business • Driving conversion across emerging consumer segments • Using travel retail as a gateway to India for international (luxury) brands • Embracing the potential of domestic travel retail (air and non-air) However, success depends on navigating regulatory complexity, restrictive duty free rules, and high operating costs – making a localised, strategic approach essential. “The Indian travel retail market is poised for take-off, the time to board for brands, retailers and operators is now,” said Dijon and Hundekari. “Massive infrastructure investments, airline expansions, and significant growth in international and domestic traveller numbers make now the moment to act. While travel retail in India won’t rival China in size, the growth momentum creates promising opportunities for airport operators, retailers, and brands – especially in Tier 1 and Tier 2 cities.” Dijon and Hundekari shared some valuable strategic advice for brands, retailers and airport operators with regards to navigating and succeeding in the travel retail industry in India. “First and foremost, collaboration among the players is key. On top of that, airports need future-ready investments, retailers must create immersive, localised spaces, and brands should use travel retail as a launchpad with exclusives, premium showcases, and well-trained staff driving consumer engagement.” Further commenting on how brands and retailers can tailor their offerings and make their stores magnets for consumers in the vibrant Indian travel retail market, Dijon and Hundekari highlighted the importance of focusing on exclusivity, local relevance, and curated experiences. “From travel retail exclusive products, regional immersion and storytelling to attractive ‘grab & go’ bundles and digital services, success lies in capturing the curiosity and catering for the diversity of India’s fast-evolving traveller base.” Dijon and Hundekari’s address turned the spotlight on India in a truly insightful way and an overriding message was that the pace of transformation is unmatched. “The energy we’re seeing in 1:1 conversation signals real readiness to act. We look forward to building on these dialogues, learning from innovations across APAC, and deepening our shared commitment to shaping the future of Indian travel retail.” Kearney Senior Partners Victor Dijon and Neelesh Hundekari shared a compelling real-world case study, combining traffic and retail data with more than 20 in-depth interviews across airports, retailers, and global brands – offering a holistic view of India’s travel retail landscape. Yesterday’s TFWA Workshop – ‘Market Watch: India’ explored the key drivers shaping India’s retail trajectory, outlining emerging opportunities and persisting challenges. Through insights and case studies, the discussion examined the must win battles for travel retail in India, and the strategic moves to unlock value for brands, retailers, and airport operators. Market Watch: India Wednesday 14 May 2025 6 T F W A D A I L Y