Industry experts stated that a potential 10% increase in visitors should help retailers in the UAE reach their Eid holiday period sales targets, which are vital for their total annual performance.
Shopping centers are due to extend trading hours and new lines will be revealed, with older items attracting huge discounts.
During this month, some regions of the Arabian Gulf will remain open until 1am during the week and until 2am over the weekends.
The numbers of tourists is expected to rise by about 10% during 2014, with most being expected from Saudi Arabia, followed by Oman, Kuwait and Qatar. This surge in tourists is due to the UAE being known as the Middle East hub for all religious occasions and festivals.
The overall earning during the Eid holidays can account for around 20% of the annual turnover for retailers, according to the former general manager of the Bur Juman mall in Dubai.
According to AT Kearney, retail sales in the UAE rose by 5% during last year to reach US$66bn.
The shopping festival for this year’s Eid runs until Saturday in Dubai. Not only does the tourist season boost the retail market; it also offers malls the opportunity to increase their footfall figures, along with increases in beverage and food sales. The one drawback is that the extended hours do not always mean they will make bigger sales as many people simply spend time together in the mall, socializing and eating.
10 OCTOBER 2014, United Arab Emirates