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20% Decline in Dubai Retail Sales Last Year

Dubai : 06 April 2010

A new Report just released by Jones Lang Lasalle has stated that Retail Sales in Dubai fell by at least 20% last year.  While this is bad news for the sector the Dubai Chamber of Commerce has also predicted that sales will begin to increase again this year and will be up by about 4% by the end of 2010.

However, the sector is changing and Retailers need to alter their business perspective if they are to come through this recession the report also indicates. There will no longer be a strong emphasis on luxury brand identification and instead people will be looking to purchase goods that are more competitively priced and can be seen to be value for money. Innovative Marketing strategies and more convenience shopping will now also become a bigger aspect of the Retail sector the report says.

Many shopping malls may also close or change their whole ethos this year as they will no longer be competitive if they do not change their tactics and redefine their core principles. Some may even cease to be shopping malls and may actually be changed to other uses that will be more likely to yield a profit.

It is highly unlikely that any new shopping malls will be constructed for the next couple of years and any that have already been planned will probably now be delayed for some time.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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