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R E P O R T

MILLENNIAL BUSINESS

TRAVELLERS SHINE

AS TRAVEL RETAIL’S

HIGHEST SPENDERS

New research among global shoppers highlights that Millennial

business travellers are the most influential segment today, as travel

retail industry’s highest spenders, while revealing a significant decline

in spend among Boomers, travel retail’s lowest spending segment

The latest research, published this week by Swiss- driver of premium sales. In contrast, the research
based research agency m1nd-set, makes a deep demonstrates how Boomers have declined sharply,
dive into the Millennial business traveller shopping from close to 30% of travellers before Covid to just 9%
behaviour in travel retail. The research shows that today, making them the smallest and least influential
the demographic, aged 29-44, is driving premium age segment, spending just $107 on average. The
sales and provides recommendations on how motivations that draw Millennials into duty free stores
brands and retailers must engage with these high differ considerably from those of older shoppers,
value consumers. With an average spend of $151 according to the research. While Boomers are more
per trip, Millennial business travellers far exceed likely to enter stores to browse, seek promotions, or
the global average of $128. Representing nearly chase lower prices, Millennials are driven by a quest
40% of global passengers, their fast-growing share for new products, higher service quality, broader
of business travel reinforces their role as the key assortments, and a more engaging store atmosphere.

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