By Staff writer
Payments firm says shoppers from UK, Russia, India, Oman and Qatar among most prolific spenders in first 2 weeks of festival
Visa card transactions rose by 5 percent during the first two weekd of Dubai Shopping Festival (DSF) compared to the same period last year.
The global payments technology company said that consumer spending on experiences, rather than more traditional sectors like fashion retail and luxury goods, saw the biggest growth in spending.
It said an increasing number of consumers are using their cards to pay for restaurants, attractions and theme parks and take advantage of the deals and offers available at this time of the year.
Visa’s data showed card transactions overall are up by 5 percent the first two weeks of DSF, which runs until January 28, although no value was given.
It said growth is particularly strong in the online retail sector as consumers seek out sales online. This aligns with the growth of the e-commerce industry in the UAE with an increasing number of shopping websites and retailers looking to expand their footprint online.
The data also revealed the top five countries spending more this DSF with shoppers from the UK, Russia, India, Oman and Qatar leading the way.
Karim Beg, head of marketing, Visa MENA said: “This Dubai Shopping Festival, transactions by card continue to grow as we move towards a cashless future in the Middle East. Visa’s data reinforces the trend that consumers are increasingly choosing electronic payments to take more control over their transactions and enjoy the associated peace of mind and additional benefits that come with paying by card.
"This year, we are also seeing growth in online spend as the e-commerce sector becomes more established in the region.”For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.