As the 23rd edition of the Dubai Shopping Festival (DSF) enters its home stretch, key economic sectors in Dubai have reported improved performance in the first half of the festival.
Malls and retail outlets in Dubai have registered an increase in sales and footfall during the first half of DSF while other sectors such as airlines and financial services are also seeing an upswing in business during DSF, which is organised by the Dubai Festivals and Retail Establishment (DFRE).
Ahmed Al Khaja, CEO, DFRE, said: “We are pleased with the initial feedback that we have received from our stakeholders on DSF’s impact on their businesses. These positive economic indicators for the first half of DSF augur well for the remaining period of the festival. This goes to prove how crucial the DSF is to Dubai’s retail and ancillary sectors.”
The DSF started on December 26 and runs until January 27.
Sheikh Majid Al Mualla, divisional senior vice-president commercial operations, said: “Emirates has seen a considerable amount of traffic into Dubai during this period. Along with a steady stream of visitors from the UK, US, France, Spain and Australia, we have also seen an increase of visitors from Russia, Pakistan, Netherlands and Egypt. Regionally, there has been a surge in visitors from Saudi Arabia and Kuwait.”
Omar Khoory, managing director of Nakheel Malls, said: “We have witnessed a very successful DSF 2018 so far. Our offerings and promotions at Ibn Battuta Mall and Dragon Mart have boosted visitor numbers by nearly 10 per cent compared to last year.”
Majid Al Futtaim Properties
Fuad Mansoor Sharaf, managing director for Majid Al Futtaim Properties, Shopping Malls (UAE, Bahrain and Oman) said: “We have witnessed robust increases in visitation during the first two weeks of DSF.”
Michel Ayat, CEO of Arabian Automobiles Company, said: “This year, we invite buyers to visit our showrooms so that we can treat them to the very best offers across the Nissan, Infiniti and Renault line-ups.”
Dubai Duty Free
Colm McLoughlin, executive vice-chairman and CEO, Dubai Duty Free, said: “This year’s edition of the DSF plays an important role in driving the retail sector across the board. As many visitors travel through Dubai International Airport and Al Maktoum International during DSF, many shop first at Dubai Duty Free before heading out into the city.”
Abdullah Al Mana, general manager, Dubai region – Etisalat, said: “As a strategic partner, Etisalat is very pleased to see our customers enjoying our wide range of products and services this DSF. The 23rd edition of DSF continues to define Dubai as the must-visit retail and leisure destination for families around the world.”
Karim Beg, head of marketing, Mena – Visa, said: “As we near the close of this year’s DSF, we see a 27 per cent year-on-year growth in payment volume with DSF-participating merchants compared to 16 per cent for the rest of the market.”
Gold and jewellery
Tawhid Abdullah, chairman, Dubai Gold and Jewellery Group, said: “We have seen very good footfall during the first week of the DSF in the past, however, this year, the pre-VAT, Christmas and New Year sales seemed to have exceeded all expectations. Consumers were moved by the favourable gold price and the mega winning opportunities. We believe the participating stores would mark impressive sales for the remaining period of DSF as well.”
Dubai Shopping Malls Group
Majid Al Ghurair, chairman of Dubai Shopping Malls Group, said: “In its 23rd edition, the Dubai Shopping Festival has maintained its positive impact on the economy. Half way through the campaign we have witnessed a significant increase in customer engagement as compared to the previous editions. We are confident that we will be able to grow this engagement further as the second half continues with more exciting deals and value added promotions. Being able to achieve these results reflect consumer willingness to spend in current market conditions, provided that they are offered great value in their purchases.”