April 17, 2012
Train and airport retail is becoming a real revenue driver as terminals upgrade and expand commercial development and turn into shopping malls.
FACT: Airport retail is predicted to grow by more than 60% between 2010 and 2015 to a value of circa $44.1 billion.
FACT: Retail represents up to 60% of non-aeronautical income.
FACT: The New York Transit subway system will see all 271 subway stations converted to wireless within four years.
FACT: PayPal, Buko and Google Wallet are all developing in-store/in-situ payment systems which will enable travellers and commuters to buy products and services from their smartphones without having a credit card or bank card.
Transport hubs are typically surrounded by undeveloped land and many are sitting on a potential goldmine of real estate opportunity. This issue of MORE Vision by Mapic will explore how office blocks, hotels, convention centres, medical facilities, casinos, free trade zones and even entertainment and theme parks can be used to generate new sources of revenue and encourage the perception of the airport and train station as a business or tourism destination.
Interested in speaking about retail in transport hubs at MAPIC 2012? Contact us today!
Next issue: June 2012 – all about Pop-up Retail. Don’t miss out! Register now to receive the next publication.
Top industry players featured in this issue:
Michael Marzec, General Director, Polish Airports
Andrea Jörger, Project Leader, The Circle at Zurich Airport
Gavin McKechnie, Head of Retail, Network Rail
Fin Casey, LS Travel Retail UK & Ireland
Mark Faithfull, Editor, Retail Property Analyst
IMAGE: Alexander Gatsenko