Dubai Adapts to “Tectonic Shifts” in Consumer Spending

Staring at the latest Prada bag on display in The Dubai Mall, are you wondering about whether you’ll have a job long enough to afford it? Have you opted to miss out on the latest Michelin-starred restaurant opening in favour of dining at home? If the answer is yes then fear not, you are not alone. One of the largest mall and retail operators in the Middle East has identified more cautious spending as a rising trend in the region, including in the shopping hub of Dubai. “We have seen that…. actually in the last two years,” Alain Bejjani, chief executive officer at Majid Al Futtaim – Holding: “The way I describe it as is you have a number of tectonic shifts happening in consumer behaviour.”

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