Dubai Duty Free has achieved a remarkable milestone in 2023, recording its highest-ever annual sales of Dh7.88 billion ($2.15 billion). This impressive figure represents a 24% increase over 2022 and surpasses pre-pandemic sales in 2019 by 6%. The surge in sales is a direct reflection of the increased passenger traffic at Dubai International Airport throughout the year.
December 2023 proved to be an exceptionally lucrative month for Dubai Duty Free, registering record monthly sales of Dh807.6 million ($221 million), an 8% increase from 2022. A significant contributor to December’s success was the 40th-anniversary promotion on December 20, offering a 25% discount, which spurred a 24-hour shopping frenzy totaling Dh54.1 million ($14.8 million).
Online sales also saw a notable uptick, contributing Dh164 million, accounting for 2% of the total sales in 2023. The year witnessed over 20 million sales transactions, averaging 55,000 per day, with customers purchasing around 55 million units of merchandise.
Colm McLoughlin, Executive Vice Chairman and CEO of Dubai Duty Free, expressed his elation at achieving the triple goals for the year – target sales, a record month in December, and a record-breaking year overall, coinciding with the celebration of their 40th Anniversary.
The top-selling categories for the year included perfumes, which led with 17% of total sales (Dh1.36 billion), followed by beverages (Dh1.13 billion, 14%), gold and jewellery (Dh773.5 million, 10%), cigarettes and tobacco (Dh745.69 million, 9%), and electronics (Dh628 million). The majority of sales, amounting to Dh7.06 billion, occurred in the Departure area, comprising nearly 90% of the total annual sales.
Travelers from India were the top purchasers at Dubai Duty Free, followed by Russia, China, Saudi Arabia, and the UK.
Looking ahead, Dubai Duty Free is set for significant refurbishment at Concourse B, with renovations expected to complete soon. The first quarter of 2024 will see the renovation of three Arrival shops, continuing until the second or third quarter. Additionally, refurbishment in Concourse A is scheduled to begin in the second quarter of 2024, including the introduction of three new boutiques from major fashion brands, anticipated to be completed by early to mid-2025.
These developments highlight Dubai Duty Free’s commitment to continual growth and adaptation, ensuring it remains a key player in the global travel retail industry.
