Dubai Duty Free recorded a new annual sales record of AED7.901bn ($2.164bn) for 2024, with a major surge in sales happening towards the end of the year.
December set a record with sales of AED821.944m ($225.190m), a 2 per cent increase over same month in 2023.
They were fuelled by Dubai Duty Free’s 41st anniversary celebrations when the operation offered a 25 per cent discount on December 20, and which resulted in a shopping spree of AED59.993m ($16.436m) during the 24-hour period.
Dubai Duty Free sales
This performance followed strong sales in November 2024 which was also higher than the same month last year. Confectionery was the best-performing category in December with sales up 29.46 per cent over December 2023.
Reflecting on the year at Dubai Duty Free, Managing Director, Ramesh Cidambi, said: “We had a terrific November and December and the last week in December was particularly good with the staff really pushing hard to get beyond 2023’s record year.
“Despite all the major renovations and refurbishments that took place, I am very happy with the way the year has turned out.
“I am very grateful for the support that I have from our Chairman, Sheikh Ahmed bin Saeed Al Maktoum and I join His Highness in thanking our front and back-office staff, our suppliers and our customers for their contribution towards another great year.”
The operation recorded more than 20.733m sales transactions throughout the year, an average of 56,649 sales transactions per day, while a staggering 55.137m units of merchandise were sold.
It is also estimated that over 13.7m customers shopped in DDF’s Arrivals and Departures stores in 2024.
The top five selling categories for the year were:
- Perfumes
- Liquor
- Cigarettes and Tobacco
- Gold
- Electronics
With sales of AED1.50bn ($411m), Perfumes contributed 19 per cent of total sales and retained its position once again as the top selling category with growth of 9.79 per cent over last year.
Sales of Liquor reached AED1.056bn ($289m) and accounted for 13 per cent of the total annual sales with a decline of 6.6 per cent over last year.
Meanwhile, Cigarettes and Tobacco recorded sales of AED807m ($221m) and contributed 10 per cent towards total revenue with growth of 8.27 per cent over last year.
Gold came in fourth place with sales amounting to AED779.m ($213m) and accounted for 10 per cent of total revenue and just higher last year.
Electronics came in fifth place with sales of AED546.m ($149million) and accounted for 7 per cent of total annual sales but dropped 13 per cent compared to last year.
Online sales topped AED197m ($54m) accounting for 2.5 per cent of the overall sales tally for 2024.
Sales in Departures across the operation was AED7.121bn ($1.951bn) representing 90 per cent of total annual sales and grew 0.84 per cent over last year, while Arrivals sales totalled AED537m ($147m), representing 6.8 per cent of total annual sales and declined 12.21 per cent over last year.
Meanwhile, in line with the growth of the operation, the recruitment of staff continued in 2024 with total staff numbers now at 6,030 comprising 54 different nationalities.
Cidambi said: “In addition to adding to our diverse sales force this year we also strengthened our senior management team with the recruitment of eight senior managers in key roles, which include seven UAE Nationals. The new senior managers have integrated very well and are a key part of our five-year business plan (2025-2029).”.
Looking ahead, Dubai Duty Free will continue to enhance its retail operation which includes the completion of the last phase of renovations in the Arrival shops in the three terminals with construction to be finished in early 2025.
This will be followed by major refurbishment in Concourse B of the Luxury Watches and Electronics shops that will span 2025 and 2026.
Also in 2025, Concourse A will see a major renovation of the Perfumes and Cosmetics shops on the East and West sides, renovation of the Gifts from Dubai offer and the opening of three new boutiques for major Fashion brands.
Due to the extent of work in Concourse A, the renovation is expected to start in early 2025 and finish by late 2026.
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