There are few destinations more closely identified with retail than Dubai. Indeed, its duty-free and low-tax shopping is one of the hallmarks of the emirate. Dubai is home to some of the world’s largest malls, most diverse retail outlets and most value-added shopping experiences, with everything from giant aquariums to ski-slopes adorning its air-conditioned retail spaces. Various substantial projects…
Interview:Colm McLoughlin How have changing source markets affected the traditional shopper profile in Dubai, and what does this mean for retailers? COLM MCLOUGHLIN: The traditional shopper profile has changed considerably in recent years. Not only has Dubai grown to become one of the most visited cities for tourists but also a haven for luxury retail. Evidence for this can be found in the…
There are few world cities more closely identified with retail than Dubai. Indeed, its duty-free and lowtax shopping is one of the hallmarks of the emirate. Dubai is home to some of the world’s largest malls, most diverse retail outlets and most value-added shopping experiences, with everything from giant aquariums to ski slopes adorning its air-conditioned retail spaces. Various substantial…
AT Kearney predicts that the e-commerce market in the GCC will reach $24bn by 2020. The UAE is currently the biggest market in the region when it comes to online shopping, although the management consultancy predicts it will have slipped to second place by 2020, with Saudi Arabia, by far the most populous market in the region, taking the lead in the sector. Within the UAE, Dubai has also been…
While Dubai’s retail space continues to expand and adapt to global trends, recent years have seen some particular external challenges for the local sector. A sustained period of low oil and gas prices, starting in 2014 and continuing into 2018, has impacted sentiment and disposable incomes in many Gulf states, while economic slowdowns in Asia and elsewhere have also hit tourist and expat…
Dubai has continued to meet its targets in becoming the global capital of Islamic finance, nearly doubling the number of sukuk (Islamic bonds) listings on its exchanges since 2017. Furthermore, eased policy restrictions to encourage foreign investment and the 2019 budget’s continued commitment to infrastructure development ahead of Expo 2020 are expected to continue driving economic activity. As
Attendees will have the opportunity to: meet with a wide variety of retail solution providers under one roof; connect with new retail suppliers, customers, and business partners; catch a glimpse of the latest solutions, services, and equipment available in the retail industry; and network with local and international peers. The Smart Stores Expo has been conceptualized to integrate the growing retail…
Analysts expect consumers in Dubai to take a more cautious approach to spending after the implementation of the new value-added tax (VAT) on January 1. Following strong sales in the fourth quarter, there was a slight dip reported in retail sales in the UAE in the first few weeks of January. Industry analysts identified VAT as a contributing factor to strong performance in the UAE’s consumer goods…
Interview:Colm McLoughlin How will the introduction of value-added tax (VAT) impact the luxury retail sector? COLM MCLOUGHLIN: The introduction of VAT in Dubai and the greater GCC region is a positive development. The implementation of a VAT has proven to be an effective means of collecting additional government revenue for many countries. Naturally, however, it will affect us and the retail…
Dubai is one of the world’s leading shopping capitals, and the retail and wholesale sector is the biggest single contributor to the economy. Local iconic malls are constantly reinventing themselves, searching for new brands and experiences to attract global consumers to spend on fly-and-buy excursions. The relationship between retail, real estate, air transport and tourism is key to the…
