Abu Dhabi – Mubasher: A report by Majid Al Futtaim showed a total increase in consumer spending in the UAE, by 22% during the period from January to June 2022, compared to the same period last year. Driven by an increase in retail spending by 16% and by 31% in non-retail sectors.
According to the report, general categories in the retail sector recorded a growth of 15% in the first half of this year, compared to the same period in 2021; This contributed to an overall growth of 44% in the retail sector economy.
Consumer spending on food and beverages increased by 15%, and in the hotel sector by 14%, while the pharmaceutical and health care sector recorded a growth of 14%.
The percentage of spending during the second quarter on fashion and jewelry increased by 20% compared to the first three months of this year.
The report revealed that multi-channel shopping remains the preferred method for consumers, with spending through e-commerce channels increasing by 41% in the first half of this year compared to the same period in 2021.
Online sales represent 11% of the total retail economy, and apparel and fashion topped the list of multi-channel sales.
The data showed the growth of shopping in hypermarkets and supermarkets, which increased by 12% in the first half compared to the first six months of 2021.