Strong November Performance Pushes Retailer Toward Record Year
PC: Startup Pakistan
Dubai Duty Free has recorded US$1.94 billion in sales up to the end of November 2024, which should see the airport retailer surpass the US$2 billion mark for the year. In November, sales reached US$205.67 million, marking it as the fifth highest month in the retailer’s history. Notably, the 30th of November marked a new daily sales record for the year at US$8.46 million, while November 29th ranked third at US$8.24 million. Managing Director of Dubai Duty Free Ramesh Cidambi was content with the company’s performance, considering that trading conditions were quite tough. “I am very happy with the sales performance in November, which was against tough trading conditions including the sales in boutiques for the major fashion brands being lower than last year and refurbishment projects in the Arrivals shops in all three terminals,” Cidambi said.
He credited the strong results to targeted efforts to enhance sales and narrow the gap between budgeted and actual spending per passenger. “Thanks to the continuous effort of our entire team, I look forward to another great month in December as we head into a busy holiday season and expect to close the year with excellent results,” he added.
Top-Selling Categories Lead the Way
The major selling categories of Perfumes, Liquor, Tobacco, Gold, and Electronics were reported during the first 11 months of the year. Perfume sales led in the product category rankings, with sales reaching US$362 million, representing a 10% increase from 2023. Sales for liquor followed at US$258.37 million, followed by Tobacco, which realized an 8% increase and generated US$200.52 million.
Gold sales amounted to US$194.57 million, reflecting a modest 2% increase compared to the same period last year. Electronics rounded out the top five categories with sales of US$134 million.
Preparations for a Strong Finish
With the busy festive season soon, Dubai Duty Free is gearing up to cash in on the heavy passenger traffic. The company will be celebrating its 41st anniversary on December 20th with a special 25% discount on a wide range of products both in-store and online. Traditionally, December has been a record month for the retailer with sales volumes reaching peak due to holiday travelers and offers.
Dubai Duty Free is, however, optimistic that this year will end on a high, driven by continued efforts to fine-tune the customer experience as well as optimize sales opportunities.
