KOREAN DUTY FREE The Shilla Duty Free is a main concessionaire at Incheon Airport
Testing times ahead
K
im Bumho, Deputy Executive Director of Concessions Development Group, Incheon International Airport Corp, voices his concern about the increase in travel retailers who are targeting a decreasing number of shoppers saying: “Due to the numerous operators, competition between downtown, including online, and the airport could become severe. This will negatively impact the profitability of operators in the future.” However, in spite of difficult trading enviroment, half-year sales at Incheon Airport have increased by approximately 4% compared to 2016. Although the number of Chinese passengers visiting Korea has diminished due to the THAAD crisis, the balanced passenger demographic of
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ASIA DUTY FREE & TRAVEL RETAILING OCTOBER 2017
Korean duty free retailers are facing difficult times with the well-documented decline in visitors from China and the increased competition from downtown stores. Asia Duty Free asked two operators, Incheon Airport and The Shilla Duty Free, how they are combatting the downtown by
REBECCA BYRNE
The Shilla Duty Free has a sizeable downtown store in Jeju, South Korea