Apparel & footwear lead the way in retail, says Dubai Chamber


April 5, 2017 | By RetailME Bureau

In 2016, Dubai’s apparel and footwear market was valued at $11.5 billion, accounting for the largest share of the emirate’s retail sector, indicates Dubai Chamber of Commerce and Industry. Apparel accounted for 73% market share, followed by footwear at 18% and sportswear at 9%.

The high demand for apparel was supported by value and mid-range offerings, particularly during shopping festivals and sales events. This trend is expected to continue through 2021, leading the category to achieve a projected CAGR of 3.4% in the medium term.

Personal accessories were identified as the second-largest product category, with an estimated market value of $4.2 billion, owing to rising demand for smart watches and growing popularity of online retail in Dubai. The personal accessories category is projected to grow at a CAGR of 4.4% over the medium term to reach $5 billion by 2020.

Consumer electronics claimed the third-largest share of the local retail market last year, generating sales worth $2.3 billion. The category is expected to remain stable over the medium term, growing at a forecast CAGR of 0.4% amid a maturing market and an increase in the number of tourists.

Sales of consumer appliances were valued at $622 million last year, and are expected to remain relatively unchanged in the medium term, growing at a forecast CAGR of 1.1% to reach $650 million by 2020.

The value of Dubai’s home and garden market was estimated at $1.7 billion, and the segment is projected to see a steady CAGR of 3.2% over the medium term to reach $1.9 billion by 2020. Beauty and personal care market was valued at $1.53 billion, set to lead retail sector growth with a forecast CAGR of 6% until 2020.

Highlighting the underlying strength of Dubai’s retail sector, as well as the key trends that will fuel future growth within the market, president and CEO of Dubai Chamber Hamad Buamim says, “The easing of UAE visa regulations to some countries is expected to drive tourism, which will likely have a positive impact on Dubai’s retail market going forward as the emirate prepares to attract up to 20 million tourists annually by 2020.”

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE-based concept grocery retail chain, Grandiose has opened a new supermarket within 

Continue Reading

November 22, 2020 | By RetailME Bureau

US-based fast food chain, Nathan’s famous Inc. brings another New York classic, 

Continue Reading

November 12, 2020 | By RetailME Bureau

Dubai-based Union Coop, the leading Consumer Cooperative in the UAE, opened its 

Continue Reading

November 11, 2020 | By RetailME Bureau

UAE homegrown marketplace, Noon.com has announced its Yellow Friday sale from November 

Continue Reading

November 5, 2020 | By RetailME Bureau

UAE-based Al Maya Group officially launched an exclusive range of Woolworths products 

Continue Reading

October 30, 2020 | By RetailME Bureau

Abu Dhabi headquartered LuLu Group has opened its latest hypermarket at Khalifa 

Continue Reading

October 29, 2020 | By RetailME Bureau

elGrocer, the grocery delivery app with ties to some of the major 

Continue Reading

October 25, 2020 | By RetailME Bureau

Jones the Grocer set to open its doors at Dubai’s newly launched 

Continue Reading

October 18, 2020 | By RetailME Bureau

Saudi-based operators of hypermarkets and supermarkets BinDawood Holding Company has completed the 

Continue Reading

October 16, 2020 | By RetailME Bureau

The regional food and grocery delivery app Talabat has announced the expansion 

Continue Reading

October 15, 2020 | By RetailME Bureau

Walmart is hiring 10,000 new employees in Canada for positions in stores 

Continue Reading

October 14, 2020 | By RetailME Bureau

British quality grocery retailer Waitrose & Partners launched its first e-commerce platform 

Continue Reading

October 11, 2020 | By RetailME Bureau




Download Images RetailME Magazine