Dubai Duty Free starts the New Year on a high note, setting an all-time sales record of AED 7.885 billion (US$2.16 billion) in 2023. This marks a 24.39% increase over the previous year and a 6.40% rise from pre-pandemic levels in 2019. December closes with record monthly sales of AED 807.6 million (US$221 million), an 8.37% increase compared to 2022.
The milestone year is celebrated with Dubai Duty Free’s 40th-anniversary festivities, including a one-day shopping spree of AED 54.1 million (US$14.8 million) on 20th December. Colm McLoughlin, Executive Vice Chairman CEO, expresses gratitude to stakeholders and highlights a fantastic year, attributing success to Chairman H.H. Sheikh Ahmed bin Saeed Al Maktoum’s unwavering support and the contributions of the team, suppliers, media, and customers.
The operation records over 20 million sales transactions throughout the year, averaging 55,000 transactions per day, with 55.2 million units of merchandise sold. The top five selling categories include Perfumes, Liquor, Gold, Cigarettes Tobacco, and Electronics.
Perfumes lead with sales of AED 1.366 billion (US$374 million), contributing 17% of total sales. Liquor follows with AED 1.130 billion (US$310 million), accounting for 14% of total annual sales. Gold records sales of AED 773,506 million (US$212 million), contributing 10% to total revenue. Cigarettes Tobacco and Electronics round out the top five with 9.5% and 8% of total revenue, respectively.
Online sales contribute 2% to the overall sales tally, reaching AED 164 million (US$45 million). Sales in Departures make up 90% of total annual sales, reaching AED 7.062 billion (US$1.93 billion), while Arrivals sales total AED 612 million (US$168 million), representing 8% of total annual sales.
India tops the list of source markets for Dubai Duty Free sales with AED 973 million (US$266 million), followed by Russia, China, Saudi Arabia, and the UK. The operation continues to grow, with a total employee count of 5,500.
Throughout the year, Dubai Duty Free receives 18 awards, including the Business Traveller Middle East Award for “Best Airport for Duty Free Shopping in the Middle East” and the Gulf Business “Retail Company of the Year” award.
Looking ahead, Dubai Duty Free plans major refurbishments in Concourse B, completion of Arrival shop renovations, and the refurbishment of Concourse A, among other initiatives. The busy events calendar includes the Dubai Duty Free Tennis Championships in February–March 2024.