From March 31 to April 2, the Dubai World Trade Center will host a retail festival, during which visitors can purchase luxury goods at a discount of up to 80%.
From March 31 to April 2, 2016, The Big Spring Clearance Festival will be held at the Dubai World Trade Center. Within its framework, a wide range of products from 40 luxury brands of clothing and cosmetics will be presented, available at a discount of up to 80%.
Among the brands participating in the event are listed Adidas, BCBGMAXAZRIA, Ted Baker, Zara Home, Boggi, Salsa, TOMS, Tommy Hilfiger, Aldo and others.
Experts expect the event to gain popularity among consumers, given their interest in luxury brands and concern over the slowdown in the UAE's economic growth, which has led many to cut costs on high-priced goods.
Colin Beaton, Managing Director of Limelight Creative Services, a consulting company, said: “Discretionary spending items, which include luxury goods, a new car, exotic vacations, will be reduced ... In many cases, consumers in an ambiguous position prefer to save money in case the situation worsens . ”
The UAE's retail market is expected to be valued at $ 53.7 billion in 2016, which is 7% more than in 2015, but lower in terms of last year's annual growth, according to Euromonitor International, a consulting company.
Admission to The Big Spring Clearance is free. Dubai World Trade Center will be waiting for guests from 11am to 11pm.
