Retailers within apparel and footwear continued to attract consumers in a slower economy by offering deals throughout the year. This in turn helped to maintain consumer confidence and sustain sales in 2018.
2018 witnessed the introduction of 5% VAT, which led consumers to be cautious about their spending, and the trend of buying during seasonal discounts increased. That said, consumers did not stop shopping, but rather continued to shop smartly – a trend that was seen throughout the year.
Real estate giants in the United Arab Emirates, such as Emaar Properties, Nakheel Properties, Dubai Holding, Meraas and Shurooq, are diversifying the retail environment by adding unique concepts apart from shopping centres. Recent retail additions included the full operations of Al Seef, the opening of Bluewaters and Ain Dubai by Meraas and the opening of The Pointe at Palm Jumeirah by Nakheel in December 2018.
Consumers took advantage of a wide variety of price points across brands when shopping for apparel and footwear in 2018. Internet retailing was a focal point for this, especially since Amazon launched Souq.
2018 witnessed signs of recovery compared with the previous year. Consumers and businesses alike adjusted to the new tax dynamics quite quickly.
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Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in United Arab Emirates with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Clothing and Footwear market research database.