Stores & Spaces (159)
Now even Dubai does discount
Thanks to its success, the planned expansion of Dubai’s only discount shopping mall has been met with interest from retailers.
Why it matters
Despite a warning of an oversupply of retail space from the Middle East Council of Shopping Centres, along with the tightening of consumer spending, the Dubai Outlet Mall has announced expansion plans. In a city where being the first individual to purchase the latest item at full price is actually a badge of honour worn proudly, what will this mean for the same retailers in other malls? Is this the start of a flood of budget stores invading Dubai?
An internet service based on the “intention economy” trend: a buyer declares his intention to buy and then companies bid for the consumer’s business with the buyer then selecting the best offer.
Retail developers in Dubai are being cautioned to delay or scrap plans for the omnipresent mammoth malls in favour of smaller suburban shopping centres. The sheer size and grandeur of the developments are considered too risky in the economic climate where consumers appear to be beginning to reject such conspicuous consumption.