Retail On The Rise

JUL

I remember my inaugural walk through the Pittsburgh airport well over 10 years ago and being blown away by the incredible retail experience they crafted for passengers. Pittsburgh was ahead of their time and led North America in what is now a full-blown, continent-wide trend of turning airports into retail cash-generating machines. Sky Harbor airport in Arizona provides another example of how airports that focus on providing an authentic shopping experience can reap major revenue rewards.

The hottest retail center in the Valley doesn't have a Tiffany & Co., Ralph Lauren or Louis Vuitton.

But shoppers just can't seem to pass up the goodies sold inside Sky Harbor International Airport's Terminal 4. There, stores hawking T-shirts, books and gum, raked in nearly $1,689 per square foot in 2003. Ritzy malls Scottsdale Fashion Square and Biltmore Fashion Park pulled in $520 and $490 per square foot, respectively, during that same period. The sales volume make the airport's retail space a hot commodity for businesses large and small. Not counting food, Terminal 4 retailers pulled in a healthy $28.4 million. One 400-square-foot newsstand rang up nearly $1.6 million. The airport is tripling its retail space...

"Way back 20, 30 years ago that was never a consideration, the food and the retail. They built facilities to efficiently process passengers," Armbrust said. "Now every airport understands it (retail) to be an excellent revenue source."

Terminal 4 tripling its retail space [AZ Republic]

TAGS: airports arizona shop

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Retail On The Rise

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