Dubai Duty Free achieves record sales of over AED 7.8 billion in 2023

The New Year started on a high note for Dubai Duty Free and the operation announced an all-time sales record of AED 7.885 billion (US$2.16 billion) by 2023, representing a 24.39 percent increase from the previous year and up 6.40 percent than before the pandemic in 2019.

December ended with record monthly sales of AED 807.6 million (US$221 million), an increase of 8.37 percent compared to 2022. December sales were further boosted by Dubai Duty FreeCelebrations of the trade’s 40th anniversary, when the trade offered a 25 percent discount on December 20, resulting in a buying spree of AED 54.1 million (US$14.8 million) over 24 hours .

Reflecting on the year at Dubai Duty Free, Colm McLoughlin, Executive Vice President and CEOsaying,

“We are delighted to have achieved our sales target for the year, a record month in December and a record year in 2023, culminating in our 40th anniversary celebrations. Overall, it has been a fantastic year and I would like to thank our President, His Highness Sheikh Ahmed bin Saeed Al Maktoum, for his unwavering support. Thank you also to our great team of staff, our suppliers, the media and, of course, our customers, for their contribution to our continued growth and success over four decades.”

The operation recorded more than 20 million sales transactions throughout the year, or an average of 55,000 sales transactions per day, while a staggering 55.2 million units of merchandise were sold.

The five categories with the highest sales during the year were Perfumes, followed by Spirits, Gold, Cigarettes, Tobacco and Electronics. With sales of AED 1,366 million (US$374 million), Perfume contributed 17 percent of total sales and maintained its position as the top-selling category. Liquor sales reached AED 1.13 billion (US$310 million) and accounted for 14 percent of total annual sales.

Meanwhile, Gold recorded sales of AED 773.506 million (US$212 million) and contributed 10 percent of the total revenue. Cigarettes, tobacco ranked fourth with sales amounting to AED 745,694 million (US$204 million) and accounted for 9.5 percent of total revenue, while electronics ranked fifth with sales of AED 628 million (US$172 million) and accounted for 8 percent of the total. annual sales.

Online sales accounted for 2 percent of the total sales total by 2023 and reached AED 164 million (US$45 million).

Departure sales across the entire operation reached AED 7,062 million (US$1.93 billion), representing 90 percent of total annual sales, while Arrival sales totaled AED 612 million (US$168 million). US dollars), representing 8 percent of total annual sales.

In terms of the main issuing markets of Dubai Duty Free In sales, India is number one with AED 973 million (US$266 million), followed by Russia with AED 759 million (US$208 million), China with AED 564 million (US$154 million) , Saudi Arabia with AED 512 million (US$140 million). million), and the UK is in fifth place with sales of AED 373 million (US$102 million).

Meanwhile, in line with the growth of the operation, the rehiring and hiring of personnel continued until reaching a total of 5,500 employees. Throughout the year, the operation received a total of 18 awards, including its 22nd consecutive Business Traveler Middle East Award for “Best Airport for Duty Free Shopping in the Middle East”, the Gulf Business Award for “Retail Company of the Year ” and the seventeenth consecutive Global Traveler Award for “World’s Best Duty Free Shopping”. Colm McLoughlin He also received personal awards, including the exclusive Pearl Achievement Award for his “outstanding contribution to the travel industry”, which was created to commemorate the 30th edition of the Arabian Travel Market. He also received the inaugural “Frontier Pioneer” award at the Frontier Awards in Cannes in October.

Looking to the future, Dubai Duty Free will continue to enhance its retail operation, including major refurbishment plans to Concourse B, which will be completed early this year. The operation is also working on scheduled renovations of three Arrival stores in the first quarter of 2024, with construction continuing through the second or third quarter of 2024. Concourse A (2 perfume and cosmetics stores and fashion area) is also It will be renovated starting in the second quarter of 2024 and will be completed in early to mid-2025 with three new boutiques of leading fashion brands.

Besides, Dubai Duty Free will continue to maintain its busy calendar of events and promotions, which includes the Dubai Duty Free Tennis Championships to be held at the Dubai Duty Free Tennis Stadium from February 18 – March 2, 2024.

News source: Emirates News Agency