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Changi Airport concessionaire sales top $2b
The Straits Times | Wed, Jan 22 2014
SINGAPORE - Concession sales at Changi Airport jumped 9 per cent year-on-year in 2013 to reach a record of over $2 billion, with passengers from China accounting for a whopping 25 per cent of total sales.
According to airport operator Changi Airport Group (CAG), Singaporeans contributed about 20 per cent to the $2 billion figure, representing an 11 per cent growth from their spend in 2012. Passengers from China saw their spend grow by some 24 per cent year-on-year.
The top five markets for sales contribution were China, Singapore, Indonesia, Australia and India.
Products which typically fly off the shelves include liquor and tobacco as well as perfumes and cosmetics. Other popular categories include luxury goods, electronics and equipment, and chocolates and candies.
"We are heartened to have delivered a stellar year for Changi Airport on the retail front," said Lee Seow Hiang, chief executive of CAG.
"A strong retail business underpins our continual efforts to keep Changi Airport competitive, augmenting its status as an air hub.
"For 2013, we achieved record high concession sales, with a healthy growth rate that outperformed passenger traffic growth for the period. This is the result of an effective retail strategy comprising a compelling retail mix, as well as dynamic campaigns to drive sales and create buzz throughout the year."
In addition, Changi is striving to maintain its edge over competitors by expanding capacity with the upcoming Terminals 4 and 5 - slated for completion in 2017 and the mid 2020s - as well as the $1.47 billion mixed-use development dubbed Project Jewel. When it is ready in 2018, Project Jewel will facilitate airport operations as well as offer hotel and retail space.
Meanwhile, 47-year-old Indonesian businessman Irvung Tio walked away a million dollars richer yesterday after winning CAG's Be a Changi Millionaire 2013 Grand Draw.
Six finalists - two from Singapore, two from China, and one each from Russia and Indonesia - were in the running for a million dollar pay-day in a game-show which took place in front of a live audience at Terminal 3.
Mr Tio won the opportunity to become one of the finalists in a draw after he bought $667 worth of Shiseido skincare products for his wife at Changi in September last year.
The other finalists won $5,000 cash and a three-night stay at Crowne Plaza hotel.
The Be a Changi Millionaire draw, which has been gaining traction since its launch in 2010, will return for a fifth edition.
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Changi Airport's Project Jewel to be completed in 2018
Click on thumbnail to view. Story continues after photos. (Photos: Changi Airport Group, BH, ST, AFP, Bloomberg, Wikimedia Commons, Dubai International Airport)