The Tax Free World Association (TFWA) has appointed retail strategy and design agency Portland Design to deliver bi-annual insights reports on the future of duty free and travel retail. The partnership is part of a new drive from TFWA to enhance its research output to help its 500+ members better understand and adapt to changes that are shaping the sector.
Each report will unveil major shifts and trends in physical and digital retail and assess their impact on, and potential for the travel retail sector. The insights will include industry benchmarks, case studies and 'early warning' systems that project the demands and expectations of current and future travellers. The first edition will investigatethe'fourth industrial revolution' in retail, and look at how new technologies, robots, AI and automation are transforming the traditional retail and travel landscapes.
In January 2016, Portland Design set up its Strategic Insights Unit, which provides tailored consumer trends research for the retail and travel industries, to underpin and inform the company’s established retail design offer.
Terna Jibo, head of Portland’s Strategic Insights Unit said: "We are excited to partner with TFWA and its members and to fuel the travel retail industry with the most salient insights and trends. With this research, we will be able to distil shifts in the duty free landscape and give strategic guidance and pointers to how brands can future-proof, be creative and visionary -and ultimately more profitable."
TFWA President Erik Juul-Mortensen said: "We look forward to working with Portland on these bi-annual trend reports. The domestic retail and consumer goods sectors are changing at a rapid pace, and our industry must evolve and adapt accordingly. Our partnership with Portland will help give our members a clearer vision of new developments in the retail market and in consumer trends, and a better understanding of their impact on the duty free and travel retail industry."