UAE 'still a hotspot for luxury retail trade'

21/07/2010 - Dubai Lifestyle News
UAE 'still a hotspot for luxury retail trade'

Posted by Bob Brunskill

The UAE remains a "hotspot" for luxury retail trade, making now an excellent time to target high net worth individuals (HNWI) in the region through new store openings and luxury brand launches, it has been claimed.

Artaaj, the UAE-based events, promotions and marketing consultancy, observed that 25 per cent of the country's residents view luxury items as part of their lifestyle, according to the results of a recent survey conducted by research firm Synovate.

"The number of designer shops, high-end hotels and posh shopping malls is also on a rise in the UAE," added the company.

Artaaj therefore said it would offer luxury sector exhibitors a platform to display their finest goods at its "Big Boys Toys" exhibition at the Abu Dhabi National Exhibition Centre from February 2nd to 5th 2011.

The consultancy said it expects Big Boys Toys to attract an affluent target audience of over 60,000 visitors during its 4-day run, with select exhibitors across 46 luxury brand categories.

"With indicators underlining the optimism of GCC-based HNWIs on their own local economies as well as on the global market, luxury goods are poised for growth, and Big Boys Toys is a perfect opportunity for luxury brands to tap into the ever-present affluent market in the region, especially in the UAE," said Biju Jayaraaj of Artaaj.ADNFCR-2019-ID-19901062-ADNFCR