China Duty Free Group outlines growth strategy at TFWA Asia Pacific Conference

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China.org.cn

May 17, 2024, 05:45 ET

BEIJING, May 17, 2024 /PRNewswire/ -- A report from China.org.cn:

China Duty Free Group (CDFG), the world's leading travel retail operator, outlined its strategy for continued growth at the recently concluded TFWA Asia Pacific Exhibition & Conference held in Singapore from May 12 to 16.

The event, which marked the 40th anniversary of the Tax Free World Association (TFWA), brought together industry leaders from around the globe.

CDFG, the event's diamond sponsor, sent a high-level delegation led by President Luke Chang, Vice President Zhao Feng, and Assistant President Michelle Sun. The delegation engaged in productive discussions with industry partners throughout the conference.

During the China Watch Workshop on May 14, Matt Liao, CDFG's senior vice president of marketing, branding and public relations, shared his insights into the industry's development trends in his presentation titled "Opportunity and Development."

Liao emphasized the positive outlook for the sector, citing a more relaxed travel environment, a vibrant market, and the ongoing implementation of key policies and national strategies like the Hainan Free Trade Port. These factors, he noted, will create significant growth opportunities for the industry as a whole.

Liao further outlined CDFG's strategic roadmap for capitalizing on these opportunities. This includes growing its channel network by focusing on popular tourist destinations, accelerating overseas expansion, and expanding its presence at key domestic airports and border points.

Additionally, CDFG will optimize downtown store operations by closely monitoring policy changes and adjusting plans accordingly. The company will also solidify its presence in Hainan by promoting the development of key stores towards differentiated and diversified business models.

As the tourism market accelerates its recovery, the global travel retail market has entered a phase of significant growth and expanded opportunities. CDFG plans to leverage its existing brand, supply chain, and channel advantages, alongside broader industrial support from its parent company, China Tourism Group, to expand vigorously into international markets while maintaining a strong domestic presence.

CDFG is committed to working collaboratively with industry peers to offer consumers a wider range of high-quality products and services, seizing new opportunities in China's travel retail market and contributing to the global prosperity of the duty-free and travel retail industries.

SOURCE China.org.cn