WORLDKINGS - Worldkings News - Asia Records Institute (ASRI) China Duty Free Group: World’s largest duty free retailer


( In 2021, China Duty Free Group was the leading global travel retailer, with a turnover amounting to approximately 9.4 billion euros that year. Ranking second, the South Korean company known as Lotte Duty Free had a turnover of roughly four billion euros.

A duty-free shop (or store) is a retail outlet whose goods are exempt from the payment of certain local or national taxes and duties, on the requirement that the goods sold will be sold to travelers who will take them out of the country, who will then pay duties and taxes in their destination country (depending on its personal exemption limits and tariff regime). Which products can be sold duty-free vary by jurisdiction, as well as how they can be sold, and the process of calculating the duty or refunding the duty component.

Established in 1984, China Duty Free Group Co. is a state-owned duty free operator under the Assets Supervision and Administration Commission of the State Council. The state-owned enterprise follows state council policies regarding retail practices and operates over 200 duty-free stores across the country, including downtown outlets and inflight services. China Duty Free Group also manages travel retail stores in Hong Kong, Macau, Taiwan and Cambodia. The company also formed the CITS Group Corporation in a joint venture with China International Travel Service Limited (CITS).

China Duty Free Group Co., Ltd. (CDFG) is the only state-owned enterprise authorized by the State Council to operate duty free business across the country.

In general, the travel retail market is mainly driven by tourists who are on the move and have their own set of reasons for going duty free. According to a survey, the price advantage attributed to shopping duty free was the leading reason why consumers made duty free and travel retail purchases. Consumers also commonly shopped with travel retail outlets to buy products that they would not be able to find at home or in order to buy a gift. About half of those surveyed felt that shopping in duty free stores is part of the overall travel experience.

According to Internet

Brian (Collect & Edit) - WORLDKINGS (Source of photos : internet )


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