Dubai Duty Free is expecting to double its sales to more than Dh10 billion ($2.72 bn) by 2018, compared to last year’s 15 percent rise. Colm McLoughlin, Executive Vice President of Dubai Duty Free, has said this year’s sales would touch Dh 16bn.
On its 28th anniversary, the retailer offered a huge 25 per cent discount on a wide range of products which resulted into a massive shopping spree. Sales reached to $24 million in just 24 hours which is a record for the company and 30 percent higher compared to last year’s anniversary date of 20 December, 2010.
?It has been a fantastic year for Dubai Duty Free. The entire team has worked hard to maintain sales and its position as the single largest airport retailer in the world in terms of turnover and I congratulate them on this achievement,??Sheikh Ahmad Bin Saeed Al Maktoum, President of Civil Aviation Authority and Chairman of Dubai Duty Free, said.
?Nearly 50 percent of passengers leaving the airport buy duty free products, compared to 20 percent in the other aviation hub in world,??McLoughlin added.
The retailer has witnessed a record of 22.4 million sales transactions with more than 61,000 sales purchase per day.?Multiple reasons are cited behind the rising sales record made by the Duty Free. The Arab spring played a major role, which persuaded many tourist from Arab region to Dubai. Also last year, Dubai International Airport has witnessed a record of 46 million passengers in first 11 months.
According to government figures, increasing sales have also seen in the increase of hotel guests in Dubai of which about 11 per cent to the tune of 6.64 million came to the emirate in the first 9 months.
Perfumes have retained its position in the best selling category with an increase year by year. Compared to last year?s $40 million, the sale of perfume is around $220 million and contributed to 15 per cent of total Dubai Duty Free sales.
Meanwhile, Liquor and Gold has also reached the record sales of $204 million compared to last year?s $162 million, an increase of 18 percent.?With the latest offering in technology, the sale of electronics has also increased to 17 percent which is $111million for the year.
Commenting at the increase in product sales, McLoughlin said: ?We can look back on 2011 as a great year in which the operation went strength to strength and sales soared to a new high. I thank Sheikh Ahmed Bin Saeed Al Maktoum for his ongoing support and I joined His Highness in thanking our great staff and of course our customers, who are fundamental to our continued growth.?
In all the three terminals of Dubai International Airport, there has been a record sale growth. Terminal 1 witnessed an increase of 15 percent, Terminal 2 witnessed 34 percent increase and Terminal 3 has witnessed more than 60 percent sale growth.
Created in 1983, Dubai Duty Free is the world?s largest single terminal retailer which is continuing to improve in its sales and witnessing a meteoric increase. Currently operating in a 15,000sqm wide area, it plans to further increase by 8,000 sqm which will ultimately invite more retail stores and increase in sales.
The strategic plans include increase in both sales and passengers in the terminal. It also aims to offer latest product and ensuring the visibility and accessibility of products.
?We are continuing to improve the quality and effectiveness of our existing operations while keeping an eye firmly on the growth plans ahead. I think that with the size of the operation in the future, the prospect of us remaining the single largest airport retailer in the world in very good,??Colm McLoughlin added.
Dubai Duty Free is looking ahead to an exciting year with having some busy and promotional events happening in the country. These include Dubai Duty Free Tennis Championship which will commence from 20 February. Apart from this event, it is also anticipating to inaugurate Jumeriah Creekside Hotel, its first hotel, which is located in Aviation Club Ground.
Sources: Gulf News, The National, Dubai Airport