Sales of products in personal luxury rely heavily on the strength of the UAE economy as well as the influx of wealthy tourists from other countries. As a result of the threat of COVID-19, however, the United Arab Emirates implemented an early national lockdown in order to flatten the curve of infections from COVID-19 in March 2020.
During the COVID-19 crisis, building and maintaining a strong online and digital presence has become of vital importance to companies in personal luxury. With the closure of outlets around the UAE and the restricted movements meaning that most consumers have remained in home seclusion for much of 2020, consumers have come to rely more heavily on technology.
Brands and retailers in personal luxury connected with consumers through gestures of caring in 2020. Many companies endeavoured to show consumers that they care in order to remain connected with their customers despite the decline in sales during the COVID-19 crisis.
The government is expected to implement a number of initiatives in the forecast period aimed at supporting the recovering of retail sales of personal luxury. These initiatives include the introduction of new rules and regulations aimed at boosting the economy in the United Arab Emirates.
In a similar fashion to brand name fragrances, sunglasses have become the gateway to luxury at high but affordable prices, especially for millennials or Gen Z consumers. There are opportunities for luxury brands to reach out to new consumer segments, who are fashion-conscious but cannot afford bags, footwear or clothing from these brands.
Personal luxury has been more resistant to digitalisation than other categories, as they sell the luxury experience of shopping as well as the branded items themselves. Despite the reluctance for companies in personal luxury to ‘go online’, however, the COVID-19 pandemic and national lockdown has increased the pressure on companies in this category to develop their online presence.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in United Arab Emirates with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Personal Luxury research and analysis database.
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