RETAIL AND TOURISM SECTORS BOOSTED BY DUBAI SHOPPING FESTIVAL
- January 11, 2015
- Posted by: RKonnect
- Category: Hospitality & Tourism
There is massive interest in 20th edition of Dubai Shopping Festival. The market survey conducted on a sample size of 500 respondents, indicates high euphoria among the shoppers in Dubai.
The research indicates that 72% of the respondents have purchased at least an item during the one month long DSF event. On being asked about what all items have they purchased, 56% replied lifestyle products such as perfumes and cosmetic products. This was followed by 44% responding with apparels as mentioned below in the graph. Household products and electronic items are also seem to be very popular in the DSF.
On being asked about the most interesting element about the Dubai Shopping Festival, around 56% replied “Discounts” followed by 38% replying “Prizes”. Estimations suggest that in Dubai Shopping Festival, which is being organized since 1996 has distributed a total of around AED 2 (USD 0.52) billion in prizes.
In this year’s event, Infiniti cars are being offered on the purchase of Infiniti Raffles ticket available at Enoc/Eppco petrol stations, Gold Souk, Global Village and at main streets. The tickets have a magnanimous prize worth AED 500,000 every day. Likewise, many organizers are also offering prizes such as the trivia, wherein answering trivia questions can fetch AED 1000 gift vouchers. There are many other exciting prizes as well.
Similarly, majority of the respondents who were surveyed indicated that live performances and shows from various artists further added up to the fun and frolic element as they enjoyed the most along with their kids and families.
Dubai Shopping Festival and Dubai Economy
The Emirate of Dubai is well known for doing things, keeping its long term strategic objectives in sight and in this regards, Dubai Shopping Festival, which involves 6000 retail units and 50 shopping malls is also not an exception, as the event is organized, keeping in mind the massive status of Dubai as retail oriented travel destination.
The event strategically also coincides with other major events to further catalyze towards surge in tourist numbers. During the time of event, Global Village, known for its international pavilions, is operational.
Overall the event makes a huge impact on the economy of Dubai by stimulating the retail sales. According to estimates, previous year the overall amount spent through VISA cards in DSF has been estimated at USD 1.5 billion, out of which international travellers accounted for near around USD 578 million. Among international visitors, tourists from UK, India and KSA contribute significantly to the sales at DSF.
Though the exact figures pertaining to this year’s sales is not available, but based on our discussions with some of the retailers, it could be estimated that overall Month on Month (M-o-M) rise in sales during DSF is expected to be in the range of 25-30%.
In addition to retail, the economic impact of Dubai Shopping Festival also incorporates tourism, hospitality and logistic sectors. The influx of tourists from different parts of the world translates into higher business for the tourism and hospitality industry in Dubai. Likewise, substantial impact will be seen in the logistic sector such as metro, taxis and car rental.