October 19 2016  |  Confectionery & Fine Foods

Nestlé International Travel Retail unveils millennial generation insights at TFWA fair

By Jas Ryat

Nestlé International Travel Retail (NITR) is continuing its strong investment in research, unveiling key insights on behaviors and retail expectations of the millennial generation and emerging middle classes when traveling.

Millennials are crucial for the travel retail channel as they represent 52% of all travelers and 50% of all buyers, with an impressive spending power of US$13 billion worldwide. This is especially true for the Chinese market, as 40% of the country’s travelers are millennials. Research also outlines the need to apply a category-wide approach to deliver growth and drive greater connectivity through an integrated digital solution, the company said. 

These findings are driving the development of NITR’s acclaimed category management tool: The Perfect Store. This year, the company is presenting an enhanced version of the model, which continues to follow a three-step approach: Insight, Action and Evaluation. The Perfect Store enables retailers to develop impactful category activations centered on a number of areas: store layout, category segmentation, range management, category communication and cash till point optimization.

These insights are valuable in today's challenging environment, NITR believes. Global political and economic factors, increased competition from local markets and e-commerce and an ever-changing traveler landscape have resulted in a growing gap between passenger and channel sales growth, driving retailers to continually look at gaining a strong understanding of travelers’ behaviors and find category solutions to deliver growth.

The Perfect Store case study library provides retailers with updated examples of in-depth category activations across different channels in the global duty free and travel retail market that delivered incremental, sustainable sales growth.

Nestlé International Travel Retail General Manager Stewart Dryburgh said: “Increasing store penetration, conversion and spend is crucial in challenging times. This can only be achieved through continual understanding of the evolving travel retail consumer, which is why NITR continues to heavily invest in research. These form an integral part of The Perfect Store, our game-changing model, offering retailers an insight-driven category approach that delivers sales growth while enabling the conversion of travellers into shoppers and shoppers to buyers.” 

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