The Duty Free World Council is in the process of preparing an Economic Impact Study on the importance of the Duty Free & Travel Retail Industry in the Americas.
DFWC, which met in Orlando last week during the IAADFS Duty Free Show of the Americas, reports that significant progress has been made on the report. The Council says that the value of such studies has been demonstrated in Europe where a data-based economic report on the contribution of duty free and travel retail to employment, airport and maritime financing, and the overall economy, has been well received by regulators and governments.
The Economic Impact Study on the Americas region will encompass North and Latin America and will cover airports, border shops and cruise ships.
Field work will be completed in Q2 and Q3 and the final report is expected to be published before the end of this year.
Once completed, the study will be made available for consultation in the DFWC library. The European Economic Impact Study can now be accessed, at www.dfworldcouncil.com/dataresources.
The Council also reports progress on the DFWC Academy where an industry-wide consultation to draft Professional Standards for frontline retail staff is drawing to a close.
In addition, DFWC says that discussions on a Professional Development Program for management levels within the industry continue with a number of academic institutes. The council agreed that the academy would proceed with the development of some initial online learning modules.
The agreed DFWC Code of Conduct for the Sale of Alcohol Products in Duty Free & Travel Retail has been distributed across all regions and a register of the companies who have signed the code is being drawn up.
The Council has also adopted the APTRA created training program for the Responsible Retailing of Alcohol products called RRTP and, where necessary, will adapt the program to the specific needs and requirements of the respective regions.