Unusual shopping malls keep growing
The Wall Street Journal published an article about the rise of airport shopping precincts. Major airports around the world, from Singapore to Dubai, London to Beijing, have increasingly become shopping malls, albeit with gates. According to the article, airport retail businesses still see solid growth, despite the competition from online. Dufry AG, the largest duty-free airport retailer, posted same-store revenue growth at about 8% in the first nine months of 2017 compared with the same period in 2016. This tells us that with all the ‘digital disruption’ around, the brick and mortar segment is not necessarily shrinking – it is just being redefined.