Page 34 - TFWA World Exhibit 2024 Special Edition

INSIDER

Niagara Duty Free

Niagara Duty Free opened in May
1988, located in Niagara Falls on the
border with New York and has never
moved. The original owners (Craigs,
Gruyichs, Morocco) are still involved in
the business and some shares have moved
on to the sons and daughters.

How has the duty free business changed
since your store was opened?

The changes to border security have
been very impactful to the ease of traveling
into Canada and the USA, which has
been one the greatest hindrances to our
business overall. Over 50% of Americans do not have passports, which reduces our What has been your biggest challenge?
customer base significantly compared to
the day our doors opened. Obviously COVID was the number
one most impactful occurrence, which
What has been the most memorable closed our doors for over one and a half
activation/event at your store? years. We continue to “recover” from this
as our business is still close to 20% below
Our renovation in 2017 remains one of 2019 numbers. We are hoping our numbers
the greatest changes to our business, as we will be back to pre-COVID sales in the
redistributed limited floor space to better next 12 to 18 months.
match sales by department. The store still
looks as fresh as it did seven years ago.

Boutiques Hors Taxes IGL

The Boutiques Hors Taxes IGL stores
were opened in 1983 and 1986, \and remain
in their original locations in Quebec.
Pierre Guay, who co-founded the business
with his parents, continues to be actively
involved today.

How has the duty free business changed
since your store was opened?

The most significant changes we’ve
seen have come from the internet. I vividly
recall approving visuals by reviewing
projection slides that were mailed to
us. Today, we’ve embraced AI in our
operations, and we travel to meetings far music, free gifts, and complimentary food customer requests.
less frequently thanks to the convenience of trucks, creating a vibrant atmosphere for
video conferencing. our customers. How has your business recovered since the
border reopened after the pandemic? When
What has been the most memorable What has been your biggest challenge? do you envision a return to pre-pandemic
activation/event at your store? numbers?
Our biggest challenge has been in
Our most memorable event is Canada sourcing luxury brands. While we make We have reached 90% of our pre-
Day, which we celebrate annually at our progress every year, we are continually COVID figures, with some categories even
main entrance. The festivities include striving to meet the full range of trending 12-15% higher than in 2019.

October 2024 34