With the recent end of the tenth season of Fashion Forward Dubai, it's hard to ignore the allure and charm of Dubai's fashion scene.
With ultra-modern skyscrapers and the city's flair for opulence, Dubai not only is the powerhouse of the Middle East but with an impressive $11.5 billion in luxury goods spending in 2016, Dubai has no doubt also become the fashion capital of the UAE.
Today, Dubai’s apparel and footwear market is valued at $11.5 billion, accounting for the largest share of the Emirate’s retail sector. Boosted by the city's impressive international tourists spend of $31.3 billion, as well as the 45,000 high net worth individuals (HNWI) living in the city, these astonishing numbers make Dubai an incredibly important destination for international retailers and brands.
Apart from the impressive spending power, the MENA region also boasts one of the largest and youngest populations, with more than half of the region's residents under the age of 25. Further, more than 50% of the population in the Middle East specifically, is between 18 and 34. This high percentage of the much sought-after millennials suggests the potential and opportunity the Middle East region has and is one of the many reasons why international players are now entering into this market, in hopes of winning over this cohort.
To make the region even more attractive, millennials in the Middle East display more brand loyalty compared to their international counterparts, with around 60% of millennials stating that once they find a brand they enjoy, they adhere to it, representing a key opportunity for brands to engage early and establish lasting buying habits.
While the region has been a longtime vibrant market for fashion and luxury players, the market has sure transitioned, with customers becoming more global and digitally-savvy. As the city sets foot to continue to grow and develop towards becoming the creative hub of the Middle East, there will only be more room for local and international designers to experiment within the region.
Take a look at the infographic we've put together below to experience the emerging fashion mecca.
By Launchmetrics Content Team
The Launchmetrics content team is always on the lookout for new trends in the fashion and technology sector. We are geeks with style and lovers of good stories!
