As reported by retaildive.com, airport retailer Hudson Group has “laid off nearly 40% of its employees,” effective July 31.
This is in response to worldwide declines in travel, a trend that, as estimated by Hudson Group, may not return to normal pre-COVID-19 levels until 2023. The company also expects a second wave of the virus to hit this year. The retailer will add more vending machines to airports, in lieu of staffed convenience stores.
The decline in travel impacts more than just airport convenience stores. Brands like Sunglass Hut, with physical locations in many airports throughout the world, will have their in-store revenue impacted, too.
While travel remains reduced globally, expect online retail to continue the steady (though at times volatile) growth it has been experiencing since March