Coronavirus impact hits airport retailers

Shopowners at JFK’s Terminal 1 reported losing 50 percent in sales

National /
Mar.March 04, 2020 12:17 PM
Coronavirus causes drop in sales at airport retailers (Credit: iStock)

Coronavirus causes drop in sales at airport retailers (Credit: iStock)

Airport retailers are the latest sector to be hit by the coronavirus outbreak.

Amid a decline in travel — particularly to and from China, where the outbreak started — foot traffic at airports has similarly dropped off, leading to a slump in sales at major airports, the Wall Street Journal reported.

At John F. Kennedy airport’s Terminal 1, from where China Eastern Airlines, Air China, Korean Air and Japan Airlines fly out, sales at retailers reportedly have dropped by as much as 50 percent.

Foot traffic at other airports has noticeably declined. At Los Angeles International Airport Francisco, foot traffic dropped 20 percent in February, compared with a year earlier, while it dropped 15 percent at San Francisco’s airport during the same time period, the Journal reported, citing geolocation data platform Advan Research.

In Asia, the drop in retail sales at airports and foot traffic is even more significant. At some major airports, retail has dropped as much as 70 percent, the Journal reported, citing a study. To offset losses, authorities in Hong Kong, Singapore and Thailand are reportedly offering rent relief to retailers at airports for several months. [WSJ]David Jeans


Related Articles

arrow_forward_ios
Dollar General CEO Todd Vasos (Retail Industry Leaders Association, iStock)
Dollar General thrives amid retail apocalypse
Dollar General thrives amid retail apocalypse
(Getty, iStock)
McDonald’s to shutter hundreds of Walmart outposts
McDonald’s to shutter hundreds of Walmart outposts
The vacancy rate for regional and superregional malls is at an all-time high. (Getty)
Mall vacancy rate hits all-time high
Mall vacancy rate hits all-time high
Crystal Mall in Waterford, CT; Prizm Outlets in Primm, Nevada; and Louis Joliet Mall in Louis Joliet, Illinois (Facebook, Google Maps, iStock/Illustration by Alexis Manrodt for The Real Deal)
Rock-bottom prices: 11 malls whose valuations have tanked
Rock-bottom prices: 11 malls whose valuations have tanked
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Retail spending falls in February, but here come stimulus checks
Retail spending falls in February, but here come stimulus checks
AMC CEO Adam Aron (Getty, iStock)
AMC reopens 90% of U.S. theaters
AMC reopens 90% of U.S. theaters
Theaters in some cities are opening with restrictions. (Getty, Photo Illustration by Alison Bushor for The Real Deal)
Coming attraction: Movie theaters reopen in New York, San Fran
Coming attraction: Movie theaters reopen in New York, San Fran
Restaurants and bars accounted for a majority of the gains in February (iStock)
Leisure, hospitality big winners in February job gains
Leisure, hospitality big winners in February job gains
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...