Retail in Asia


Dubai Duty Free sales rebound to hit USD 1.74 billion in 2022

Dubai Duty Free today revealed that sales in 2022 reached USD 1.74 billion, representing a 78 percent leap on the Covid-hit previous year. That amounts to 85.8 percent of pre-pandemic sales, which even allowing for retail price increases in the intervening period, represents a robust recovery from the darkest days of the crisis.

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The company recorded over 17.3 million transactions across the year, averaging 46,912 per day, with 47.3 million units of merchandise sold.

With sales of USD 310.6 million, perfumes remained the leading category by value, contributing 18 percent of the total. It was followed by liquor, gold, tobacco and electronics. Liquor sales reached USD 279.8 million, or 16 percent of the total. Gold sales hit USD 172.4 million (10 percent of total sales), cigarettes and tobacco sales were USD 154 million (9 percent) and electronics posted USD 137.59 million in sales (8 percent).

Online sales at USD 44.16 million accounted for 2.54 percent of the overall tally. Departures accounted for USD 1.53 billion, or 88 percent of the annual total, with arrivals at 9 percent or USD 157 million.

Executive Vice Chairman and CEO Colm McLoughlin said: “We are thrilled to announce such a positive year as travel returns, during which the operation went from strength to strength. I would like to thank our Chairman, H. H. Sheikh Ahmed bin Saeed Al Maktoum, for his ongoing support, and I join him in thanking our great team of staff, our suppliers and of course our customers, who are fundamental to our continued growth and success.”

The company has rehired many of its workforce, with staff numbers now at 4,663.

The recovery accelerated through the year, noted the company, with December sales buoyed by the three-day anniversary discount offered on December 18 to 20. Sales during the 39th anniversary celebrations reached USD 29.4 million, as reported.

Dubai Duty Free also received 19 awards during 2022, including its 21st consecutive Business Traveller Middle East award for Best Duty Free Shopping in the Middle East, Retail Company of the Year at the tenth edition of the Gulf Business Awards, and the Global Traveler award for Best Duty Free Shopping in the World.

McLoughlin also won several personal awards, including the MEADFA Lifetime Achievement Award and Most Inspiring Leader – Retail UAE at the Global Brand Awards.

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Dubai Duty Free is maintaining its strong marketing campaigns and support of leading sporting events in 2023. This includes the Dubai Duty Free Tennis Championships, which will be staged at the Dubai Duty Free Tennis Stadium from February 19 to March 4.

Source: The Moodie Davitt Report