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1、REPORTCommercial effectiveness at modern airports Lessons from European airports Cover:1321535856/iStockManagement summaryManagement summaryAirport commercial performance is at a crossroad Potential is within reach,but only for airports ready to innovate.Retail growth has stagnated,yet passenger num

2、bers are soaring to new heights,offering an opportunity to transform current revenue streams.To seize this moment,airports must reiterate on their commercial strategies and outpace the shifts in the global retail environment.Airports can unlock significant profitability by capitalizing on emerging t

3、rends in customer preferences and a shifting customer base.Success depends on having the right building blocks in place to ensure both commercial excellence and operational efficiency.Leading airports have shown that strategic investments in operations,business partnerships,retail spaces,customer in

4、sights,and commercial capabilities not only enhance the passenger experience but also significantly improve financial performance.Roland Berger has a proven track record of helping airports worldwide achieve their commercial goals.Our tailored commercial improvement program offers a comprehensive,ad

5、aptable solution designed for the modern airport landscape.By empowering organizations and aligning with financial objectives,our program drives sustainable commercial success and positions airports to thrive in the future.2 Roland Berger|Commercial effectiveness at modern airportsContents 1234Value

6、 of non-aero commercial spend at airportsOpportunities in non-aero commercial spend Balancing the building blocks of commercial excellence at airportsCommercial improvement programIndustry fastfacts471012Page+60%of airport profit comes from commercial revenuePassenger levels increased by 20%between

7、2022 and 2023 15.8 is the average spend per departing passenger for large European airports3 Roland Berger|Commercial effectiveness at modern airports1Value of non-aero commercial spend at airportsAirports are increasingly struggling to improve(or even maintain)their commercial performance,mainly du

8、e to shifts in the wider retail environment.Yet,for the largest airports in Europe,non-aero commercial activities are the principal contributor to airport revenue and profitability.In recent years,increased pressure on airport aeronautical fees has made airport profitability even more dependent on t

9、hese non-aeronautical commercial activities.ASince the pandemic,passengers started to return to air travel.The number of air passengers in Europe is forecasted to exceed 2019 figures by 2024,with forecasts around 2,400-2,500 million European passengers.BDespite the fact that the number of passengers

10、 have returned,the real total passenger spend corrected for inflation has been decreasing.This is predominantly driven by retail,the main non-aeronautical commercial activity.The average retail spend per passenger has declined with 20-25%between 2015 and 2023.This was partially offset by the growth

11、in F&B spend of 25-30%between 2015 and 2023.CANon-aeronautical profits drive airport financial performanceEBITDA breakdown of largest European airports,2015-2023 EUR m Non-aero commercial Aviation Other Source:Annual reports,Albatross 1,056201562%34%5%4%1,289202342%55%56%3%41%1,21420194 Roland Berge

12、r|Commercial effectiveness at modern airportsBEuropean air passengers have returned after the COVID-19 pandemicNumber of European passengers,2015-20231#m 1Excludes Liechtenstein,Israel,Russia,Andorra,Montenegro,San Marino/2EstimateSource:Annual reports,Albatross2,4002.0001.6001.200800400020152016201

13、72018201920202021202220232COVID-19C Average retail passenger spend(inflation corrected)has been decliningAverage European retail and F&B spend per passenger,2015-20231 EUR/passenger Nominal retail Real retail Nominal F&B Real F&B 1Includes retail and food&beverage,excludes parking,advertising and ot

14、her services Source:Annual reports,Eurostat12108642020152016201720182019202220232020-2021Omitted as numbers are notrepresentativeCOVID-19-24%+29%5 Roland Berger|Commercial effectiveness at modern airportsAirports have the golden opportunity to leverage their full potential in retail,but these opport

15、unities need to be seized before the market moves on.Evelijn Zikken,Retail Partner at Roland BergerDrivers for the declining retail passenger spend include shifting customer preferences,changing customer base and rise of e-commerce.While some developments can be mitigated by tailoring the products a

16、nd service offering,other developments cannot be mitigated.For example,the rise of e-commerce has permanently changed the landscape and dictates the new reality.Therefore,additional measures need to be taken to increase retail spend.DD Retail spend has been changing for various reasonsMain trends fo

17、r the changing retail spend Customer preferences1Premiumization Passenger preference has been shifting from traditional to more luxurious and exclusive products and services2Localization Passenger preference has been shifting from the standardized offering to locally sourced or regionally specific p

18、roductsCustomer base3SustainabilityNew generations(e.g.,gen Y and Z)prefer eco-friendly products and services and they represent a growing passenger segment4Experience&entertainment New generations(e.g.,gen Y and Z)are looking for interactive,digital,and online experiences and entertainmentE-commerc

19、e 5Digital channels Online shopping(including delivery)enables passengers to purchase goods before or after the airport visit,bypassing in-airport retail6Price transparencyAccess to price comparisons through digital platforms drives down in-airport spending as travelers seek the best(online)deals6 R

20、oland Berger|Commercial effectiveness at modern airportsBest-in-classOpportunities in non-aero commercial spend While the average(real)spend per passenger(SPP)has been declining in recent years,the spend differs significantly across airports.Lessons can be learned from London Heathrow,Dubai or Singa

21、pore Changi airport,which are among the best performing airports.Singapore Changi airport also benefits from its large retail surface area and hence broader retail offering.ENavigating the evolving retail landscape creates lots of new opportunities,requiring us to be innovative,data-driven and effic

22、ient.Business leader at an European AirportESpend differs across airports lessons can be learned from best-in-class Retail and F&B SPP versus area per passenger,20231 EUR/#Average Large European airports Mid-size European airports Middle Eastern airports1Where 2023 data was unavailable 2019 figures

23、were used to exclude the impact of post COVID effects Source:Annual reports,interviews with market participants,AlbatrossRetail performanceF&B performanceRetail area per million pax m2/#F&B area per million pax m2/#SPP EUR/#MADSINISTLHRAMSDXBADPEU 7EU 3EU 1EU 4EU 6EU 2252015105002505007501,0001,2500

24、250500750DXBLHRISTSINMADAMSADPEU 7EU 3EU 1EU 4EU 6EU 8 EU 2EU 8 27 Roland Berger|Commercial effectiveness at modern airportsAs non-aero commercial spend per passenger and airport profitability stagnate or even decline,multiple opportunities have been identified for airports to enhance their non-aero

25、 commercial performance.FAs an example,the best-in-class airports have already embraced many of the commercial opportunities identified for airports.Singapore Changi Airport and Dubai International have elevated luxury retail and personalized services,catering to the premium market,while Schiphol Am

26、sterdam capitalized on the trend of a more local offering with locally sourced Dutch cheeses and local brands like Tony Chocolonely.Furthermore,an increased focus on sustainability can be observed at Dubai International and Singapore Changi Airport,where eco-friendly materials and products are prior

27、itized.Singapore Changi Airport also offers entertainment options like theaters and themed gardens.Additionally,in response to digital trends,Istanbul Airport allows travelers to shop online and pick up upon arrival,while London Heathrow actively uses social media to promote duty-free and exclusive

28、products.F Airports respond to trends and tailor their product offering and approach Opportunities in non-aero commercial spendSource:Roland BergerTailored products&services Extra value-enhancing measures Experience&entertainmentE-commerceSocial mediaPremium offeringLocal offeringSustainable offerin

29、gCommercial performance opportunities at airports8 Roland Berger|Commercial effectiveness at modern airportsPremium offering Airports are enhancing facilities,services,and experiences to cater to the growing demand for premiumization among affluent travelers Efforts include introducing more luxuriou

30、s retail and dining outlets,additional(VIP)lounges,and wellness and relaxation areasLocal offering Airports are partnering with regional brands and artisans to showcase unique local products,highlighting the areas culture and craftsmanship Adding local cuisine and specialty foods,creates an authenti

31、c taste of the region to the passengersSustainable offering With the increasing pressure to reduce environmental impact,passengers are becoming more conscious of making sustainable choices,driving demand towards more natural and ethical products and services Airports are implementing sustainable ini

32、tiatives attracting environmen-tally conscious travelers and boosting spend on eco-friendly products and servicesExperience&entertainment There is a shift towards experiential retail driven by evolving passenger demographics,who prioritize experiences and digital interactions in their spending habit

33、s as well as concepts such as pop-up stores Airports are expanding dedicated spaces for entertainment and experiences,e.g.,childrens play,movie theaters,gaming,and cultural eventsE-commerce E-commerce has shifted a significant portion of retail traffic to digital channels Digital channels have expan

34、ded alongside traditional retail,offering services like in-store pickup,click-and-collect,and home delivery The rise of e-commerce has increased price transparency,prompting airports to take a more strategic approach to pricing agreements with their business partnersSocial media Social media is ever

35、 present in the current era and is still growing in popularity Airports can leverage social media to effectively reach their customers,offering tailored deals and promotions while enhancing entertainment value Data collected from social media platforms can provide valuable insights,enabling airports

36、 to further customize their offeringsDEEP DIVE9 Roland Berger|Commercial effectiveness at modern airportsBalancing the building blocks of commercial excellence at airportsTo enable these opportunities and create commercial excellence,successful airports strike a delicate balance between customer ins

37、ights and data,commercial capabilities,airport operations,business partners,and retail space and investments.To keep profitability and passenger experience growing,airports need to actively coordinate these five building blocks as they are inherently connected,evolving out of their historical emphas

38、is on operations alone.Airports in London,Paris and Amsterdam show signs of converging to commercial excellence by investing in these building blocks.For example,since Heathrow privatized in the 00s,significant changes to the commercial terminal space and performance have now made it one of the most

39、 profitable airports in the world.Since the pandemic,Charles de Gaulle and Schiphol have been investing hundreds of millions each year in terminal development and governance changes to narrow the gap towards commercial excellence.Schiphol has even announced that it will invest EUR 6 billion in its c

40、ommercial terminal space,alongside some operational activities,to move its airport back towards the top-3 position in the ASQ ratings.G3GCommercial excellence is achieved by investing in five building blockBuilding blocks of commercial excellence Source:Roland BergerCommercial excellenceCommercial c

41、apabilitiesBusiness partnersRetail space and investmentsAirport operationsCustomer insights and data10 Roland Berger|Commercial effectiveness at modern airports Airport operations Operational decisions can have a big impact on commercial performance,e.g.,by moving high-spending passenger streams awa

42、y from luxury stores or by doing construction work during the day More transparent and frequent alignment between operations and commerce improves the airport profitability For instance,Schiphol assigns a commercial value to all operational decisions to ensure the effects are transparent for all sta

43、keholdersBusiness partners Airports often lack expertise in retail and rely on business partners for product assortment and enhanced passenger experience A clear strategy for allocating new available space is key for fulfilling passenger needs A“win-win”arrangement with retailers ensures that both p

44、arties invest in commercial shells,tools,and shopfloor assistants training to maximize experience and conversion ratesRetail space and investments Commercial success depends on ongoing enhancements in store offering,concepts and brand selection Continuous investments in the commercial space in coope

45、ration with business partners ensures competitiveness and the ability to meet the continuously shifting consumer expectationsCustomer insights and data Insights into customer needs,preferences and shopping behavior require a more(big)data-driven way of working and allows airports to steer commercial

46、 performance,challenge business partner choices,and prioritize changes towards operational demands From our experience,focusing on the right customers can increase financial results by+20-25%Commercial capabilities The commercial department plays a crucial role in maintaining the airports resilience

47、 by quickly spotting,evaluating and responding to trends and external changes impacting the business The ability of the commercial department to e.g.,negotiate better contracts,conduct benchmarks,as well as to ensure sufficient retail space and investments strengthens or weakens an airports overall

48、financial performanceDEEP DIVE11 Roland Berger|Commercial effectiveness at modern airportsCommercial improvement program From years of experience,Roland Berger has devised a robust commercial improvement program that brings new opportunities in todays airport retail market and improves the commercia

49、l performance of airports.Our commercial improvement approach comprises:a 360 diagnostic phase and a results implementation phase.HUnderpinning this program are five principles:1 Anchored in the organization The airport is put in the drivers seat,empowering those who deal with the challenges on a da

50、y-to-day basis.2 Direct connection to the P&L Every action has a price tag,as well as a potential,and both are calculated carefully in advance to prioritize and roadmap the improvement program.3 Rapid piloting Rather than engaging in a lengthy concept phase,the program implements actions immediately

51、 by relying on smart hypotheses.4 Adaptability of implementation As the program does not call for big investments,the airport can continuously adapt actions without major financial consequences.5 Positive culture The approach unleashes creativity and asks for collaboration between depart-ments,thus

52、quickening developments and implementation.412 Roland Berger|Commercial effectiveness at modern airportsRoland Berger involvementLOWHRoland Berger|Commercial effectiveness at modern airports can help improve the commercial performance at airports Roland Bergers commercial improvement approach Source

53、:Roland BergerPhase 1:360 DiagnosisQuantitative diagnosis Define baseline financials and align on definitions Set commercial priorities (financials vs.pax experience)Enhance and enrich client dataQualitative diagnosis Identify and validate root cause of main bottlenecks Complement root causes with c

54、ase studies Conduct commercial gap analysis Phase 2:Results ImplementationOur improvement plan and implementation approach:Preparation Set-up core team for implementation phase Define overall goals,targets and set priorities Perform commercial airport benchmarks Identify and outline initial portfoli

55、o actions Develop business caseConcept design Prioritize portfolio actions based on impact&feasibility Design action plan for sprints (incl.timeline,resources)Develop implementation roadmap (incl.squad assignments)Design the mobilization&communication planCentral tracking system Ensure organizationa

56、l embedding and buy-in Maintain alignment using interface meetings Track performance and progress Act in line with overall project goals Steer on process and ind.shop performance Monitor progress against project goalsBOTTOM-UPTOP-DOWN1-2 months3-6 months13 Roland Berger|Commercial effectiveness at m

57、odern airportsThe dynamic retail environment and various internal and external challenges are making it difficult for airports to sustain or enhance their commercial performance.Roland Berger has developed a robust commercial improvement program for the airport retail market,leveraging years of expe

58、rience to build an actionable and durable approach.We pride ourselves on our proven track record and a tested methodology,where we have helped numerous airports accelerate implementation and swiftly realize their targets.With our expertise and innovative solutions,we are poised to drive commercial s

59、uccess across the aviation sector.Should you have any questions or require further information,do not hesitate to reach out to us.Lets embark on the journey to success together!Conclusion14 Roland Berger|Commercial effectiveness at modern airportsAUTHORSCasper VeenmanSenior P+31 6 43796442Gabriel Sc

60、hillaciP+33 6 76988039Evelijn ZikkenP+31 6 22423329Twan de JongProject ManagerFloris-Jan CartonSenior ConsultantCoot UelenConsultantThis publication has been prepared for general guidance only.The reader should not act according to any information provided in this publication without receiving speci

61、fic professional advice.Roland Berger shall not be liable for any damages resulting from any use of the information contained in the publication.2024 ROLAND BERGER BV.ALL RIGHTS RESERVED.11.2024ROLANDBERGER.COM24_2589_REPPublisherRoland Berger BVStrawinskylaan 5811077 XX AmsterdamThe NROLAND BERGER

62、is one of the worlds leading strategy consultancies with a wide-ranging service portfolio for all relevant industries and business functions.Founded in 1967,Roland Berger is headquartered in Munich.Renowned for its expertise in transformation,innovation across all industries and performance improvement,the consultancy has set itself the goal of embedding sustainability in all its projects.Roland Berger revenues stood at more than 1 billion euros in 2023.