UAE sales poised to hit $21.6b

Extended operating hours until midnight for 30 malls combined with the Dubai Summer Surprises (DSS) campaign has helped increase retail sales more than 10 per cent over last year for some store owners, retailers report. Spending by shoppers attracted by discounts of up to 70 per cent will also help realise predictions that total UAE retail sales will climb to $21.6 billion (Dh79.3 million) by the end of the year. Eisa Adam Ebrahim, a member of the board of directors of the Dubai Shopping Malls Group, told Gulf News that malls are doing better than last year when retailers were still recovering from the global economic crisis. While hard numbers are not available, Ebrahim said the malls group "estimates double digit growth this year based on DSS trends." "Shopping centres are doing comparatively well on a year-to-year basis. The retail spend has been increased and this is evident from the success of Dubai Shopping Malls Group's promotion and the promotions organised by individual malls," Ebrahim said. "Extended shopping hours until midnight helped improved the business in the night hours whether it is shopping, dining or entertainment," he said. Tabulating the actual increase down to the penny is difficult, he said, but the malls group is working with its members to share annual sales data to analyse the industry and find ways to enhance sales. "We do not have the data available at this stage. However, DSMG will be putting together an initiative shortly to collate information and establish market size and growth potential for the sector in the immediate term," he said. All the malls, meanwhile, are enjoying steady consumer spending thanks to an influx of tourists which is also increasing following a global decline in travel in 2008 and 2009 due to world crisis conditions. Ebrahim said retailers are counting on tourism dollars to boost bottom line reporting as part of the yearly business strategy. "Being a tourism centric business, retail is supported by the consistency of Dubai's event calendar. The domestic retail spend has been on the rise this year and tourist arrivals have increased both in DSF and the summer season as most of them preferred Dubai as opposed to other cities in the region," he said. From / Gulf News