Retail has been defined for centuries as the sale of goods from a physical store. During the last few decades, stores grouped into malls and then shopping became a type of entertainment. Next, discount giants, such as Walmart and Carrefour, chewed through the retail landscape by combining lower prices and the convenience of a single mega store. The internet has furthered the evolution of retail by determining which companies perish, survive, and thrive.
It’s a story that parallels much of what has happened in the airline business. The common theme is this: Companies that embrace change enjoy a better chance of success. Those clinging to the past risk others taking their place. This report examines the changes occurring in merchandising, what lessons can be applied to the travel business, and how airlines are becoming better ancillary revenue retailers.
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