February 23, 2024

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Ramadan: UAE consumers begin seeing 2023’s first heavy reductions on newest smartphones, tech devices

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On the newest Samsung flagship smartphone, the Galaxy S23, simple instalment schemes can be found from e& and the place the month-to-month cost involves underneath Dh100.

“The primary two weeks of Ramadan are typically slower for tech retail, and there may be additionally ample warning being proven by UAE customers on non-essential spending,” mentioned a retailer. “The most recent presents on smartphones and different tech present retailers prepared to go the additional mile with the reductions.”

A brand new state of the retail sector report from Majid Al Futtaim, the Dubai-headquartered mall operator, says that consumers within the UAE are taking a wait-and-watch strategy on what they purchase and when. Low cost presents must persuade earlier than consumers are prepared to make the purchase.

Cashback promotions proceed to be in style in an setting the place customers are taking their time on non-essential spending. “There are quite a lot of presents with cashback help from the main on-line buying portals, and it is a development mirrored increasingly within the bodily retail house,” mentioned a retailer. “Even bank card primarily based spending now guarantees on the spot cashbacks.” 

Relating to TVs, after a bumper yr for class gross sales in 2022 – pushed in giant measure by the FIFA World Cup in Qatar – it could possibly be fairly tough to drag off one other spherical of heavy demand.

“The FIFA World Cup undoubtedly helped the massive TV section, and one would anticipate some type of stagnation to seep into demand this yr,” mentioned Jobin Joejoe, Deputy Managing Director at Sony MEA. “However Sony as a model is taking part in primarily within the premium TV class, and we discover consumers within the UAE and Saudi Arabia are nonetheless energetic. Plus, there may be quite a lot of wealth shifting into the UAE and that too is exhibiting up in premium TV gross sales.”

In accordance with Joejoe, there is no such thing as a longer any of the availability points denting the buyer electronics sector, from the non-availability of chips. “From Sony’s standpoint, the pipeline is obvious by the remainder of the yr,” he added. Sony final week placed on a show of its upcoming TV fashions, with the main focus clearly being on going greater into the premium house, with costs of the Bravia XR 2023 line up beginning Dh4,999.

“On large-screen TVs (65 inches and above), Sony MEA witnessed a development development of 15 per cent within the UAE for FY2022,” mentioned Joejoe. “We anticipate an identical development development in FY2023 as nicely.”

Sandeep Ganediwalla, regional Accomplice on the consultancy Redseer, reckons ‘electronics gross sales are anticipated to be secure as quite a lot of buying already occurred throughout the Black Friday promotions in November/early December. “This will probably be one issue deciding demand tendencies within the coming days,” mentioned Ganediwalla. “We are able to anticipate extra aggressive reductions and inventory clearing from retailers.”

Customers won’t thoughts that one bit…

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