BRISBANE: New research has revealed that airport-based retailers could benefit from a 30 per cent increase in visitor numbers over the next five years.
Colliers International’s Australian Retail Market Indicators Report for spring 2010 expects that this figure will see 160 million people passing through airports per annum.
Colliers International director of research Nerida Conisbee said airport retailers have the benefit of a contained customer base for a period of time.
“The types of retailers who thrive in this environment are those that cater to the wants and needs of transit consumers,” she said. “It is therefore not surprising that those stores that allow for browsing and time consuming activities such as bookstores, newsagencies, gift shops, fashion stores such as Witchery and French Connection are emerging as airport regulars.”
The report stated that a growing trend for international fashion and lifestyle retailers to set up shop in airport terminals is developing, with brands such as Bally, Fendi, Hugo Boss, Apple, Beach Culture and Mimco key.
Australian retailers are preparing to capitalise on this possible growth. In Melbourne, a $330 million upgrade of Tullamarine Airport is due to add around 5000 square metres of retail floorspace. In Brisbane, the domestic terminal is also undergoing expansion to increase retail space. The report said Adelaide airport is also in the master planning stage for a major retail component.
The recent redevelopment of Sydney Airport’s International Terminal saw 120 new stores open.
SYDNEY AIRPORT: Breitling watches in store.
