Dubai – Gulf Information Technology Exhibition (GITEX), the biggest and most anticipated consumer electronic retail event in the MENA region concluded on a positive note in Dubai yesterday. With sales from GITEX Shopper 2016 event is expected to cross AED 300 million and with visitors’ surpassing 200,000, the event could be considered successful for Dubai / UAE based major retailers.

GITEX Shoppers 2016 – Demographic Rankings of the Visitors

1. Asians
2. Arabs
3. Westerners
4. Other ethnic background

GITEX – New Product Launches / Major Players & Brands

GITEX showcased 35,000 products from over 100 brands, the event once again catalyze huge sales and generated massive exposure for major electronic retail companies across the globe.Major players in the Dubai’s electronic retail industry including Jumbo Electronics, Jacky’s Electronics, Sharaf DG, E-Max and Axiom as well as top world brands such as Samsung, Alienware, Asus, Bose, Hisense, HP, Lava, Microsoft, MSI, Nestle and Oppo were determined to offer the best deals possible to the tens of thousands of visitors that visited the GITEX event each day.

GITEX SHOPPER 2016 – CONSUMER SENTIMENTS

GITEX Shoppers was a euphoric moment for the visitors as the event was packed with bundle deals, and discounts on a myriad of products. Smartphones continued to be one of the top categories this year. The iPhone 7 launch and the Samsung flagships have seen a very strong response amongst the Dubai / UAE based residents. With new devices such as the Sony Xperia XZ, HTC Desire 10 and Huawei P9 did also drove the sales further.

GITEX 2016 – Shift in Buying Trends (Wiser Consumers)

According to our discussions with promoters in GITEX Shopper event, which included Swapnesh Panicker, it was understood that visitors number was increasing, however, the shoppers were no longer excited with bundle offers and were smart enough to compare GITEX prices with online e-commerce websites as a base to bargain for better offers.

UAE Consumer Electronic Market Size

The consumer electronics industry in the UAE is expected to grow by around three per cent this year to AED 43 billion ($11.8 billion) compared to AED 42 billion ($11.5 billion) last year, driven mainly by smart wearable devices and convertible laptops. Demand for consumer electronics continues to grow in the UAE and spending on consumer electronics is expected to reach USD 4.58 million by the end of 2016, and The Middle East IT spend is set to reach AED 781 billion ($213 billion) in 2016, a 37 per cent increase from the previous year.

UAE Gaming Industry Market Size

The Virtual Reality gaming industry, the GCC’s next billion-dollar industry is expected to rise to AED 16 billion ($4.4 billion) by 2022. From VR headsets to AR tools used in live surgery, GITEX shopper is set to demonstrate how a new view of reality can change lives and businesses.

UAE / Dubai Market Potential

Retailers and distributors in the UAE serve a potential market of almost 2 billion people, with GITEX Shopper acting as an important additional retail marketplace to reach a wider segment of consumers. With Dubai’s strategic location connecting east with the west coupled with a positive and diversified economy makes Dubai the ideal place for investments in electronic retail segment. Furthermore, the rise in Dubai population (2.5 Million in 2016 – expected 3.5 Million by 2020) and growth in tourism (4^th popular global tourist destination) has made it all the more obvious for Dubai to take the center stage of foreign investments particularly in the light of real estate, retail and hospitality developments.

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 Author – Fathima Azeez & Waqas Hassan