UAE retailers expecting a busy Eid weekend


August 7, 2013 | By RetailME Bureau

Retailers across the UAE are expecting a busy weekend of sales ahead of Eid celebrations. “This is traditionally a key retail period in the year and we expect positive momentum from Mall of the Emirates, Mirdif City Centre and Deira City Centre this weekend. In fact, we have already started witnessing a boost in activity across all three malls as Eid festivities draw closer. Ski Dubai and Vox Cinemas in Mall of the Emirates are recording strong numbers,” says Fuad S Mansour Sharaf, senior director of property management for Majid Al Futtaim Properties.

UAE-based Rivoli Group that retails luxury items has recorded double-digit year-to-date growth this year and is expecting Eid weekend purchases to exceed last year’s sales over the same period. “Last year Eid weekend sales accounted for 12% of all sales, which we anticipate will double over the coming Eid weekend this year. There is more buoyancy in the market now compared to previous years. If you look at all the key indicators — property numbers, visitor numbers — they are all up. It shows consumer confidence is returning to the market,” observes Abraham Koshy, watch division CEO at Rivoli Group.

Sharaf DG, UAE-based consumer electronics retailer, is also expecting a busier Eid weekend than last year. “Last year, the Eid weekend contributed to 16% of total sales for the month. This year, we are expecting 30% growth over last year’s Eid sales. In-store traffic will witness a sharp increase this weekend because we have lucrative offers during Eid at our stores to attract customers,” adds Nilesh Khalko, CEO of Sharaf DG.

 

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