APTRA Insights Seminars attract more than 270 people
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Over 270 people attended the 2016 Asia Pacific Travel Retail Association Insights Seminars, organised in collaboration with KPMG. The aim was to glean valuable insights into consumer behaviour and other issues relevant to the duty-free and travel retail community.
In total, 160 delegates attended the research seminars in Sydney and Hong Kong on November 15 and 18 to learn from the data presented by APTRA, KPMG, m1nd-set and guest speakers TravConsult. A further 110 delegates attended similar seminars in Singapore and Mumbai earlier in the year.
M1nd-set owner and CEO Peter Mohn (pictured below) shared insights into the shopping behaviour of the Asia Pacific traveller, with a detailed analysis of millennial travellers, their paths to purchase, information sources and technology usage in travel-retail. He revealed, for instance, that “web-rooming”, where consumers research online before buying in-store, has become more important than “show-rooming” (where they research in-store. but purchase online). He urged brands and retailers to ensure both shopping experiences are of a consistently high standard.
KPMG International representative Willy Kruh shared research into the technology landscape in retail today and how to engage with the increasingly connected consumer. He looked ahead to a retail environment, which is likely to include drones, robotics, artificial intelligence, 3D printing and hydroponic growing techniques. He also provided an analysis of the millennial and generation Z consumers who dominate the market.
Anson Bailey of KPMG China provided detailed observations of the connected consumer, specifically in China, and said that an omni-channel approach was essential. He commented that the next step is an omni-business model with seamless integration of all functions centred on the consumer. The marketplace will, he said, be driven by value, convenience and experience.
“He looked ahead to a retail environment, which is likely to include drones, robotics, artificial intelligence, 3D printing and hydroponic growing techniques.”
At the Sydney seminar, attention homed in on the Australian retail market. In Hong Kong, the luxury market was the focus with additional input from Bernstein Investment Bankers Head of Luxury Goods Mario Ortelli.
He described the size, breadth and breakdown of the luxury market and said they expected a more normal 3-4% annual growth rate over the next five years with increasing importance of Chinese consumers. These currently account for 30% of global luxury spend.
Asian market tourism and retail specialists TravConsult’s Trevor Lee and Lilly Choi-Lee exposed various cultural keys for engagement with specific Asia/Pacific nationalities and advised delegates to aim for a positive customer experience. These keys may include staff members who speak Chinese regional dialects and other means of connecting with the traveller. They focused on China, Indonesia, the “dark horse”, and India, as examples of nationalities with distinct characteristics, but who share a passion for retail and tourism.
APTRA Executive Officer Michael Barrett updated delegates on recent advocacy campaigns in which the association and its partner organisations have been involved over recent months and reported several notable successes.
Delegates enjoyed mingling during the networking cocktails, sponsored by Brown-Forman and Pernod Ricard, when they were able to muse over information they had gleaned.
Questions & Answers
Q.What did Peter Mohn advise brands and retailers to do regarding 'web-rooming' and 'show-rooming' trends?
What did Peter Mohn advise brands and retailers to do regarding 'web-rooming' and 'show-rooming' trends?
He urged brands and retailers to ensure that both online research ('web-rooming') and in-store research ('show-rooming') experiences are consistently of a high standard for consumers. This acknowledges changes in pre-purchase behaviour.
Q.Which specific Asian markets did TravConsult highlight as examples for understanding distinct cultural characteristics in retail and tourism?
Which specific Asian markets did TravConsult highlight as examples for understanding distinct cultural characteristics in retail and tourism?
TravConsult specifically focused on China, Indonesia (described as the 'dark horse'), and India. These were presented as examples of nationalities with unique characteristics but a shared passion for retail and tourism.
Q.What growth rate did Bernstein Investment Bankers predict for the luxury market over the next five years, and which consumers will be increasingly important?
What growth rate did Bernstein Investment Bankers predict for the luxury market over the next five years, and which consumers will be increasingly important?
Bernstein Investment Bankers expect a more normal annual growth rate of 3-4% for the luxury market over the next five years. Chinese consumers are predicted to be of increasing importance within this sector.
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