The ongoing Dubai Shopping Festival (DSF) has brought about a new momentum for economic, business and tourism growth in the emirate.
The 32-day festival, which is running successfully for the 22nd year in a row, is known for the prizes offered, ranging from cars to mobile phones, gold to cash, and these prizes have not only served as magnet for shoppers, but, has also helped in changing lives of thousands of nationals, visitors and residents, while also strengthening the growing stature of Dubai, as a major retail, leisure and entertainment destination.
DSF, which has drawn about 56million visitors into Dubai over the past two decades, has bagged the title of being the longest running and largest shopping festival in the world. The festival has so far played a vital role in boosting Dubai’s profile as a premium shopping and tourist destination.
Launched in 1996, by the Dubai Ruler and UAE Prime Minister, HH Sheikh Mohammed bin Rashid Al MAktoum, DSF was aimed at transforming Dubai into a modern city and a major trading and shopping hub of the region. With Dubai, welcoming the world in January every year with DSF, the festival has grown to be an important feature in the annual retail and tourism calendar of the emirate.
This year, the festival has more than half-way through, and has already given strong economic indicators from across the retail sector. According to feedback from retailers, businesses and hoteliers, and other major economic sectors, the festival has brought about a healthy start to the retail community in Dubai this year.
The organizer of the event, Dubai Festivals and Retail Establishment (DFRE), an agency of Department of Tourism and Commerce Marketing, said businesses and patrons of the shopping festivals are happy to see their cash registers ringing. Shopping malls and jewellery shops have reported brisk business.
We are half-past the DSF campaign, and participating jewellery outlets have already marked an average growth of 20 to 25 percent this year, in comparison to previous year, said Tawhid Abdullah, Chairman of Dubai Gold and Jewellery Group. The participation in the festival has also grown by 20 percent in comparison to 2014, which is an optimistic sign.
The Chairman, Dubai Shopping Malls Group, Majid Al Ghurair, said that this year, the Dubai Malls Group has taken a step ahead by signing about 18 new neighbourhood malls, thereby offering a vital platform for community malls and neighbourhood malls, and has brought about a new twist to the shopping scenario. An instant winning scratch card has been introduced in the community malls, and gold prizes and other promotions are now going on in 23 malls in the city.
This initiative has brought about considerable growth in business, which accounts for a 12 percent growth and further highlights Dubai as a place where innovative retail ideas flourish, he said.
Global Village has seen a growth in retail sales, with several retailers having joined in. There is also growth in sales among retailers and stalls in pavilions. Several people flock to Global Village to enjoy the fantastic range of shopping available, and also to experience special entertainment running throughout DSF, said Ahmad Hussain bin Eissa, CEO of Global Village.
Having had a humble beginning, with just a few malls in 1996, DSF now involves more than 70 malls and 6000 retail outlets participating, with up to 75 percent discount on everything ranging from haute couture fashion brands, cars, gold, and electronics.
The retail spend is likely to increase to Dh.204 bn during the coming years, with the Expo 2020 set to give a strong boost to the sector. DSF is sure to contribute to this increase, as it will be celebrating its Silver Jubilee in 2020, when the government expects more than 25million visitors.
The success of this festival is based on three pillars, namely shopping, entertainment and winnings, and this exhibits the success of public-private partnership model.
According to Senior Vice President - Commercial Operations Centre, Emirates, Sheikh Majid Al Mulla, DSF is in full swing for its momentous 21st edition, as Dubai is bustling with shopping malls and numerous associated events, promotions and activities.
Several visitors entering Dubai during this period are coming to avail the best deals during DSF, and this Dubai has been further established as a centre of a wide range of attractive events, he said.
Shoppers here are spoilt for choice, given, the offers like Visa, the global payments company that offers discounts up to 80 percent on luxury and electronic goods, cars, and entertainment. Sharf DG has offered two nights and three days stay in hotel with complementary breakfast for two. Paris Gallery has come up with an offer of gift vouchers worth Dh.10,000, apart from discount vouchers, given away to those spending more than Dh.750.
The head of research and consultancy at CBRE, Matthew Green, said that DSF is now a brand by itself, recognized by people from across the Middle East region and international visitors. With time, DSF will draw more tourists, as several new attractions are likely to open by 2020, including Dubai Safari, theme parks, Dubai Eye, Dubai Water Canal, world’s largest Ferris Wheel and more such attractions.
Majority of families visiting Dubai during DSF period, generally look forward to shopping for electronics, jewellery and cloths, as it is cheaper, and comes with an opportunity to bag awards too.
DSF 2016 concludes on 1st February 2016, and bears the tagline “Unwrap The Exceptional”, which is aimed at offering unique shopping experiences over hundreds of events and activities being held across the city.
