| 07 Sep 2010 |
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Demand for luxury products set to increase
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Tuesday, Sep 07, 2010
Gulf News
Retailers expecting people to splurge on gifts
Abu Dhabi Luxury goods retailers in Abu Dhabi are setting up stalls for one of the busiest phases in their calendar. Thousands of shoppers are expected to throng malls in the capital city over the next few days in search of the perfect Eid Al Fitr gift.
Many will in fact be looking to splurge on high-end products after holding back for some time due to the lingering effects of the economic crisis.
“Ramadan has been a fairly quiet time for us, but we expect business to pick up this week ahead of the Eid holidays,” said Gopal Sudhakaran, the PR and events manager at Grand Stores, which has outlets in Khalidiya, Abu Dhabi Mall and Marina Mall.
“We are expecting to see particularly strong sales in electrical goods such as cameras and iPods. Overall, I think business will be more or less the same as last year.
“Many seem more hesitant this year — they have money but are being more cautious with it because of the current conditions. As a result, we are not expecting great figures this Eid, but should see some sales increase in the last few weeks.”
During Eid Al Fitr, shoppers are out to get those new clothes and bestow friends and family with lavish gifts. Luxury retailers have never lost sight of the significance of the celebration and its potential impact on their sales figures.
Mohammad Al Fahim, chief executive of Paris GalleryParis Gallery
, said: “Eid is always a busy time in all our Paris GalleryParis Gallery Stores and we are expecting the same this year. We have already seen a pick up in sales over the past few days of Ramadan and believe the days leading up to Eid will be exceptionally busy.
, we have a loyal customer base and well-trained sales people, so our sales are consistent. Eid definitely brings a spike in sales as it is such an important period in the region.” Shaheen Ali Alai, the assistant operations manager at Bateel, the gourmet date manufacturer, believes this year’s Eid celebrations will be “a turning point for the trade.”
“In general, the whole month of Ramadan has been busy and for many companies it can be a very lavish occasion,” said Shaheen. “We expect to see a lot of local people buying baskets of dates and chocolates this week.
“We have also noticed this year that many corporate clients, such as banks and oil companies, are placing fewer orders and spending less.”
Eid is always a busy time in all our Paris GalleryParis Gallery Stores and we are expecting the same this year. We have already seen a pick up in sales over the past few days of Ramadan and believe the days leading up to Eid will be exceptionally busy.”
Quote Attribution
Assistant operations manager at Bateel
Eid is always a busy time in all our Paris GalleryParis Gallery Stores and we are expecting the same this year. We have already seen a pick up in sales over the past few days ...”
Mohammad Al Fahim
Chief executive, Paris Gallery
By Kevin Scott?Staff Reporter
© Gulf News 2010. All rights reserved.
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