In order to face the recent challenges, the importance of commercial revenues for airport operators needs to be evaluated firstly. Moreover, characteristics and specialties of travel retail have to be analyzed. Based on that, the thesis explores some of the key factors, such as market trends, economical changes and technical developments, which are leading to an ever-challenging environment for airport retail managers. Finally, the research paper aims at elaborating resulting challenges and future opportunities by providing new ideas and solutions in optimizing airport retail for European airports in general and Copenhagen Airport in particular. To conclude the master's thesis, a summary is presented reviewing all findings. The overall research results reveal that Copenhagen Airport's retail philosophy has adapted to the dynamic changes in the airport retail segment. However, there remains significant room for further improvement in order to combat future challenges on the travel retail mar-ket. Furthermore, my results and recommendations can be transferred to the benefit of other]]>