Monday 22 April 2024

Dubai Duty Free sales surge 78% to hit $1.74bn in 2022

DUBAI, January 11, 2023

Dubai Duty Free, which recorded over 17.3 million transactions throughout 2022, has announced annual sales of AED6.339 billion ($1.74 billion) representing a 78% increase over the previous year.

A sign that the operation was on track for a strong recovery after two challenging years was evident in August, when it recorded a 104% increase in sales for the first eight months of the year, when sales reached $1.06 billion.

December sales were further fuelled by Dubai Duty Free’s 39th anniversary celebrations when the operation offered a 25% discount from December 18-20, which resulted in a shopping spree of AED107.3 million ($29.4 million) during the 72-hour period.

Reflecting on the year at Dubai Duty Free, Colm McLoughlin, Executive Vice Chairman & CEO, 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 operation recorded over 17.3 million sales transactions throughout the year, or an average of 46,912 sales transactions per day, while a staggering 47.302 million units of merchandise were sold.

With sales of AED1.134 billion ($310.66 million), perfume, which contributed 18% of total sales retained its position as the top selling category. It was followed by liquor, gold, cigarettes & tobacco, and electronics.

Sales of liquor reached AED1.021 billion ($279.84 million) and accounted for 16% of the total annual sales.  Meanwhile, gold recorded sales of AED629.292 million ($172.41 million) and contributed 10% towards total revenue. Cigarettes & tobacco came in fourth place with sales amounting to AED562.347 million ($154.07 million) and accounted for 9% of total revenue while Electronics came in fifth place with sales of AED502.201 million ($137.59 million) and accounted for 8% of total annual sales.

Online sales accounted for 2.54% of the overall sales tally for 2022 and reached AED161.200 million ($44.16 million).

Sales in departures across the operation totalled AED5.57 billion ($1.53 billion) representing 88% of total annual sales, while Arrivals sales totalled AED573.385 million ($157.092 million), representing 9% of total annual sales.

Meanwhile, in line with the growth of the operation, rehiring and recruitment continued with the total employee count now standing 4,663. Throughout the year, the operation received a total of 19 awards, including its 21st consecutive Business Traveller Middle East Award for "Best Airport for Duty Free Shopping in the Middle East", the Gulf Business “Retail Company of the Year” award and the sixteenth consecutive Global Traveler Award for "Best Duty-Free Shopping in the World.”.

Colm McLoughlin was also the recipient of two personal awards including being honoured with the inaugural Middle East & Africa Duty Free Association (MEADFA) Lifetime Achievement Award and being named the "Most Inspiring Leader - Retail (UAE)" at the Global Brand Awards.

Looking ahead, Dubai Duty Free will continue to maintain its busy events and promotional calendar which includes the Dubai Duty Free Tennis Championships to be staged at the Dubai Duty Free Tennis Stadium from February 19 to march 4. – TradeArabia News Service


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