Dubai Duty Free recorded $1.74-bn in sales in 2022

Dubai Duty Free ushered in the new year by announcing annual sales of $1.74 billion in 2022, representing a 78% increase over the previous year.

That the travel retailer was on track for a strong recovery after two challenging years was evident in August when it recorded a 104% increase in sales for the first eight months clocking $1.06 billion.

December sales were further fuelled by Dubai Duty Free’s 39th anniversary celebrations when the operation offered a 25% discount from December 18-20, which resulted in sales worth $29.4 million during the 72-hour period.

Reflecting on the year at Dubai Duty Free, Colm McLoughlin, Executive Vice Chairman & CEO said, “We are thrilled to announce such a positive year as travel returns during which the operation went from strength to strength. I would like to thank our Chairman, H.H. Sheikh Ahmed bin Saeed Al Maktoum, for his ongoing support and I join him in thanking our great team of staff, our suppliers and of course our customers, who are fundamental to our continued growth and success.”

The operation recorded over 17.3 million sales transactions throughout the year, or an average of 46,912 sales transactions per day, while a staggering 47.302 million units of merchandise were sold.

With sales of $310.66 million perfumes contributed 18% of total sales retained its position as the top selling category. It was followed by liquor, gold, cigarettes & tobacco and electronics. Sales of liquor reached $279.84 million and accounted for 16% of the total annual sales. Meanwhile, gold recorded sales of $172.41 million and contributed 10% towards total revenue. Cigarettes & tobacco came in fourth place with sales amounting to $154.07 million and accounted for 9% of total revenue while electronics came in fifth place with sales of $137.59 million accounting for 8% of total annual sales.

Online sales accounted for 2.54% of the overall sales in 2022 and reached $44.16 million. Sales in Departures across the operation totalled $1.53 billion representing 88% of total annual sales, while Arrivals sales totalled $157.092 million, representing 9% of total annual sales.