The Emirates has been ranking for many things from the Arab money, to being the chosen travel destination, land of business/work opportunity, healthcare haven, tourist attraction, couple of bucket lists, oh wow, the list is even longer than I had considered.
Why is the UAE considered a country of Luxury?
Maybe I should quickly remind you that the UAE [United Arab Emirates] is an oil-producing country made up of 7 Emirates that enjoys a lavish lifestyle considering the oil reserves amongst other resources, hence the life of opulence is not farfetched, and the irony is that, they feel this is a norm. More like it is the basic things of life.
While we are at that, did I mention that the UAE is one country that has luxury cars as TAXI? No, not the latest of fuel-conservative car brands.
I’m talking Muscle cars, Rolls Royce in its panache, probably your dream car to perhaps take a picture in it. [my bad] And what is cooler than seeing your dream cars as TAXI? It is you seeing them as Police patrol cars.
Imagine a Ferrari or the Lamborghini Aventador pulling over to issue you a parking ticket, and to think it is not some Dwayne Johnson and Vin Diesel in the Fast and Furious sequel... well, this is the lifestyle in the UAE.
Today’s topic will centre on the luxury lifestyle of UAE, and why it is considered as the number 1 for luxury shopping.
Before we get into more information, a little heads up on where to get the best people for your Web design, Web development, and all-around Digital Marketing - The Watchtower - Web Design Agency Dubai.
How rich is the UAE?
The economy of the UAE is termed the 4th largest country in the Middle East after Turkey, Saudi Arabia, and Iran, with a gross domestic product (GDP) of US$421 billion (AED 1.5 trillion) as of 2020.
According to Wikipedia, the UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was based on oil exports.
Oil exports contributed 77 per cent of the UAE's governmental budget in 2011. There has been significant economic diversification in recent years, notably in Dubai.
Abu Dhabi and the other UAE emirates have taken a cautious approach to diversification. Dubai has much fewer oil reserves than its neighbours.
What is luxury shopping in the UAE?
Shopping for luxury products is vital for the designated elites, as well as some want tobes, to gain clarity on the matter.
The selection of desired items with a high value in terms of price and quality is a prerequisite for the aristocrat. People like this, more often than not, want to convey an image of nobility and charm just via their choice of fashion accessories.
The luxury goods market in the UAE is divided into two parts: kind and distribution channel.
One thing is certain: the affluent people of the UAE would never consider their purchasing choices to be luxury, but rather a checkbox of fashion standards.
What is the Market overview of luxury goods in the UAE?
A baseline analysis of the UAE luxury goods industry, as well as an assessment of major market trends and an overview, was recently completed. The market has been sized and forecasted based on the value of each category in millions of dollars.
This overview is categorized under two major divisions, which are:
1. Channel of Distribution
This is the strategy and mode a market sector intends to utilize to get to the end of the supply chain.
Some examples of this would be:
1. Virtual Stores.
2. Single phased Brand Stores.
3. Multi-phased Brand Stores.
4. Other Distribution Channels.
2. Market Type.
This is a clear intent of an item of interest in a market. The market type varies by a range of commodities, which therefore could vary by the use, need, and target audience.
Please see the examples below for your guide.
2. Items of clothing
Is Dubai good for luxury shopping?
I'll say this just once my friend; If life treats you well enough, please ensure to visit the city of Dubai.
Dubai, beyond other vacation spots you had ever considered, is also a major destination for luxury and high-end fashion brands. I’ll recommend you visit Dubai and buy branded items for less during the Dubai Shopping Festival (DSF), which takes place annually between December and February.
You’ll agree with me that great content as this can only be brought to you by The Watchtower - Web Design Agency, Dubai. A leading name for Digital Marketing and IT solutions.