Whereas duty free bombay hasn’t seen the full shutdown that many retail operations have had to endure, trading conditions have been very location dependent.
Said CEO PK Thimmayya: “Except for a month or two at the start of the pandemic in 2020, all of our stores have been operational almost everywhere. The recovery is different depending on the airports in which we operate, some airports, although with a smaller passenger base, are showing growth compared to 2019. Regional airports have also seen an upturn in activity before the resumption of leisure and we expect the trend to continue.
“While we initially thought leisure travel would resume more quickly as businesses have become accustomed to virtual meetings, we have recently seen a strong recovery in business travel. There is certainly a pent-up demand for travel across the board.
He adds that in March this year, business across India had shown a recovery of around 50%, and he now expects this to pick up further speed in the coming months as the regular flights.
And he says, “Spending has increased over the past year and a half, as has the average deal size. Penetration had also increased due to various factors, such as domestic market availability and pent-up demand. »
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