在人口结构重塑以及需求多元裂变的双重变局状况之下，品牌营销的核心如今正持续地从"触达人"朝着"读懂人"转变。中国式的人口老龄化与消费年轻化彼 此之间形成了共振的态势：在2010年的时候，消费的高峰处于40至50岁这个年龄范围，然而到了2022年度，其已经高高跃升至25至29岁这个圈层。消费理念 显示出具有"务实理性"这种特性与"悦己兴趣"同时并存的情形，消费行为呈现出碎片化以及随机化，品牌认知渐渐向上升级成为"功能-场景-价值"这样的三 维心智。已然难以适配传统的"八大人群"划分，营销洞察要从"千人一面"朝着"一人千面"进行跃迁，对人群开展精细化运营，还要建设多维心智。 为此，报告构建"三位一体"人群体系： 从5A人群以及商品和私域数据出发，去评估人群健康度，进而挖掘增长空间，此为品牌自有人群领域的相关操作。 在美妆、母婴、数码、户外、奢侈品等十多个行业中，有这样一群具有行业特色的人群，他们会将购买场景、品类态度以及内容偏好结合起来，从而绘制出 精准的画像。比如说，在美妆行业里，所聚焦的是那种践行精致主义情绪的人群，母婴行业围绕的是抚育理念能够柔性落地的人群，数码行业则是以兴趣来 主导消费决策的人群。 具有兴 ...

Core Insights - The travel retail industry is experiencing a structural disconnection between passenger volume and retail sales, with global passenger numbers reaching a record high of 9.5 billion in 2024, while travel retail sales only reached $74.1 billion, down 13% from 2019 [2][14] - The disparity in travel retail performance varies by region, with the Asia-Pacific region facing declines due to policy resistance and weak consumer spending from mainland China, while India shows strong growth [2][21] - External structural factors such as geopolitical tensions, economic fragmentation, and technological advancements are exerting continuous pressure on the travel retail sector [4][6] Passenger Behavior and Shopping Trends - Passenger shopping frequency is declining at an annual rate of 4%, and the value proposition of travel retail is weakening, with nearly 40% of travelers questioning the actual savings from duty-free shopping [3][39] - Different consumer segments exhibit varied spending behaviors, with Gen Z travelers showing purposeful spending on relevant and unique items, while older travelers are more conservative and price-sensitive [3][44] Regional Performance Disparities - The Asia-Pacific region, despite having the largest travel retail market valued at approximately $31 billion, saw a 2% decline in retail sales in 2024 compared to 2019 [20][21] - Europe, the Middle East, and Africa are experiencing synchronized growth in travel retail and passenger volumes, with Europe seeing a 9.2% increase in retail sales [22][23] - The Americas are at a critical turning point, with retail sales slightly exceeding pre-pandemic levels, but facing challenges such as fragmented retail layouts and limited digital channels [27][28] Category Performance Variability - The perfume and cosmetics category accounts for over one-third of global travel retail sales, with a slight decline in overall sales, while the tobacco category saw a 13% increase [30][31] - The candy and gourmet food categories grew by 8%, driven by promotional sales and the influence of younger consumers [31] - High-end products are gaining traction, while mid-tier categories are shrinking, indicating a polarization in consumer spending [47][49] Consumer Confidence and Value Perception - The average spending per traveler has decreased significantly, dropping to $15.5 in 2024, down 17% from 2019 [36][39] - The perception of value in travel retail is shifting, with consumers increasingly skeptical about the price advantages of duty-free shopping compared to local retail channels [42][55] - Clear pricing and value propositions are essential for driving consumer confidence and conversion rates in travel retail [52][56] Evolving Business Models and Strategies - The travel retail business model is evolving slowly, with a need for strategic reassessment to adapt to changing consumer behaviors and market dynamics [5][6] - Companies must focus on building resilient operations that can thrive amid ongoing disruptions and volatility [7][6] - The integration of dining experiences within retail spaces is emerging as a key strategy to enhance consumer engagement and drive sales [57][62]