Dubai Duty Free passed the $2bn sales milestone on December 26 to keep on track for another record year.
The retailer passed the landmark earlier than in 2018, when it reached $2 billion on December 28 and finished the year on a record high of $2.015bn. This marks a 3.5% year-on-year growth and the largest amount ever reached in its history, Gulf Business reported.
The retailer recorded 24.284 million sales transactions, an average of 66,500 per day, while a total of over 64.578 million units of merchandise were sold, according to local media.
Some of the top selling categories for the year included perfumes, cosmetics, tobacco and electronics.
1. Sales of perfumes, which rose by 2% over 2018, reached AED1.1 billion ($299 million) and accounted for 15% of the total annual sales.
2. Cosmetics, the third best selling category with AED 848.7 million ($231 million) in sales and contributing 11% towards the total revenue, showed an increase of 11% over 2018.
3. Tobacco came in fourth place with sales amounting to AED 817.2 million ($222 million) and accounted for 11% of total revenue followed by electronics (AED 558.1 million/$152 million).
4. Sales in Departures across the operation reached AED 6.6 billion ($1.8 billion) while Arrivals with AED664.2 million ($181 million) represented 9% of total annual sales.
Dubai Duty Free Executive Vice Chairman and CEO Colm McLoughlin hailed the achievement as the retailer confirmed it expects to have surpassed its 2018 sales total in 2019.
2019 has been a good year for Dubai Duty Free,” McLoughlin said. “We have invested in a number of major refurbishments across the retail operation, and it is fantastic to have achieved the $2 billion figure well before the end of the year.”
McLoughlin continued: “We have continued to develop our retail offer in all the terminals… We are also looking forward to the opening of the new 1,100 sq m retail space in Terminal 3 Arrivals this month.”
The 2019 performance was assisted by Dubai Duty Free’s anniversary event in December, which saw sales top $57 million across the three-day promotion alone.