EUROPE. The European Travel Retail Confederation (ETRC) has released the ETRC Business Performance Index for the full year 2023, and it shows a robust recovery from the continent’s airport travel retail sector.
Across 2023 the sector recorded total annual sales of €8.67 billion (US$9.22 billion), representing a substantial +17.8% increase measured against 2022 performance and a marginal -1.8% decline compared to 2019 levels.
Significantly, revenues for Q4 2023 exceeded the comparable pre-pandemic number by about +1% and all categories were “back on recovery path” in the quarter, ETRC noted.
Spend per passenger remained consistent with 2022 levels but was up by nearly +5% compared to 2019.
The trade body said the results represent “a remarkable improvement and demonstrate the sector’s resilience and adaptability”.
ETRC Secretary General Julie Lassaigne commented: “The data from 2023 demonstrates the resilience and adaptability of European travel retail. Despite many economic and geopolitical challenges affecting the European region, our industry has shown remarkable growth and its continued relevance, proving a high-quality shopping experience for travellers going through European airports.”
The ETRC Index is compiled by Pi Insight using data contributed by travel retailer members of ETRC and the support of ForwardKeys for passenger data. The full report is available to ETRC members only as an exclusive service. ✈
