DUBAI, UNITED ARAB EMIRATES
1 week duration
The recent pandemic has had a great impact on the worldwide luxury industry, leading to numerous habit changes for the customers but also for the companies that needed to adapt their strategy.
This study aims to understand the purchasing habits, the preferences and the perspective of Dubai’s population toward the luxury industry.
5 Min Read
1. ZOOM ON DUBAI
False expectations or future growth?
Significantly, Middle East personal luxury sales were already declining even before the start of the pandemic. An overflow of supply from retail shutdown during COVID-19 has been evident and still continues to suppress the market.
Nevertheless, the growth outlook of the luxury goods market in Middle Eastern cities seems positive even though colossal difficulties are looming.
The Middle Eastern luxury goods segment is estimated to grow by approximately 8.5 per cent (2020-2025) despite ongoing challenges, according to Mordor Intelligence Report.
Dubai alone accounts for 30% of the Middle East’s luxury market. The UAE citizens spend as well around 30% of their monthly salaries on luxury goods in early 2020. The increased acceptance of digitization by both luxury retailers and consumers is an integral part of the innovative comeback solutions seen in the industry despite the pandemic outbreak.
TO GO FURTHER
The purpose of this lite research, is only to showcase work sample. For more respondents, insights or questions about our methodology, please contact:
The Method Research