Luxury Daily – As the business hub of the Middle East and one of the world’s wealthiest cities, Dubai has attracted its fair share of affluents and luxury brands. Luxury is arguably the primary industry in Dubai, as the city’s economy revolves around trade, tourism, real estate and financial services. The United Arab Emirates has increasingly become a haven for the ultra-affluent from around the globe, and brands across luxury sectors have expanded their presence in Dubai.
“Physical stores are essential for luxury brands expanding to Dubai, especially for brands that don’t have global brand awareness,” said Ken Morris, principal at BRP Consulting, Boston. “When consumers are buying extremely expensive products they want to see, touch, smell and try the products. “The experience is oftentimes just as important as the product itself,” he said.“Luxury consumers love the theater of shopping and want to be treated like royalty.”
“With more than half of the population in the Arab world under the age of 26, according to Vogue Arabia, retailers need to appeal to the communication styles and mediums preferred by younger shoppers,” BRP’s Mr. Morris said. “These young shoppers will be their future customers and brands need to introduce them to the brands and inspire them become loyal customers.”
Read Full Article: Cities of luxury: Dubai – Luxury Memo special report