The UAE consumer electronics industry was worth AED 12.8 billion (USD 3.4 billion) in 2015 and is expected to be worth AED 13.5 billion (USD 3.6 billion) in 2016 and AED 15.7 billion (USD 4.2 billion) by 2020, according to a report issued by Euromonitor International Middle East, gulfnews.com reports.
The UAE retail industry is dependent on major shopping events, and they are giving a boost to sales. But what we are seeing is that sales are actually slowing down, which indicates there may be a fatigue with these kind of events,” said Nikola Kosutic, Research Manager for Euromonitor International Middle East, the source cites.
Mahesh Chotrani, assistant vice-president of Jacky’s Electronics, said that people are looking online but they still want to go to the malls and that is their favourite place to visit over the weekend.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now