The retail sector in Dubai is witnessing a surge in consumer turnout, driven by a plethora of diverse offers and significant discounts across stores and shopping centers.
The competitive promotions, which have been active since the beginning of October, have been a key factor in attracting more shoppers.
Competition in Dubai Retail Market
According to Union Coop’s recent reports, October is expected to see fierce competition in the retail sector, with discount rates reaching new highs compared to previous initiatives. Some stores are even celebrating their anniversaries with discounts of up to a whopping 90%.
E-commerce vs Retail Outlets
Despite the rising competition from e-commerce platforms, the report emphasizes that traditional retail outlets still hold a strong position. They offer advantages such as after-sales services and hassle-free returns for products that don’t meet specifications. These benefits continue to attract customers.
Union Coop anticipates a significant boost in sales during October, thanks to these attractive discounts. Additionally, the increasing number of tourists who prefer physical stores for direct purchases is expected to contribute to this upswing.
The report underscores Dubai’s retail sector as one of the country’s most vital and dynamic industries. Its performance, coupled with ongoing discounts and investments, showcases its excellence and substantial growth.
Dubai’s retail sector relies on diversification for sustainable growth. This includes competitive promotions and significant discounts, fostering a variety of local and imported products to cater to diverse consumer needs.
Within the competitive retail landscape, outlets are striving to increase sales and attract more buyers. Each player in this field is putting in extra effort to differentiate itself from competitors, aiming to double profits and boost sales percentages.
tanvir@dubainewsweek.com
