Dubai Duty Free completed 2024 on a high, establishing a new annual turnover record of AED7.901 billion (US$2.16 billion), buoyed as reported by a big surge in sales towards the end of the year.
December set an all-time monthly record with sales of AED821.94 million (US$225.19 million), a +2% increase over December 2023, which until now was the highest-grossing month in Dubai Duty Free’s history.
The December performance was fuelled by Dubai Duty Free’s 41st anniversary celebrations on 20 December when the retailer offered a -25% discount on a wide range of goods, resulting in a AED59.99 million (US$16.44 million) shopping spree during the 24-hour period.
This performance followed strong sales in November, which were also up year-on-year.
Confectionery was the best-performing category in December with sales showing a remarkable +29.46% increase over December 2023.
The operation recorded over 20.733 million sales transactions throughout the year, an average of 56,649 per day, while a whopping 55.137 million units of merchandise were sold. It is estimated that over 13.7 million customers shopped in Dubai Duty Free’s arrivals and departures stores in 2024.
Online sales topped AED197 million (US$54 million), equating to 2.5% of annual sales.
Sales in departures edged ahead +0.84% year-on-year to AED7.121 billion (US$1.951 billion) representing 90% of turnover while arrivals sales declined sharply by -12.21% to AED537 million (US$147 million), 6.8% of total annual sales.
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 early this year.
