Jumbo reports sales up 20% in H2 2010
Retailer reports return of consumer confidence in second half of last year
Jumbo Electronic saw sales rise by 20% in the second half of last year compared to the same period in 2009, as the retailer reports renewed consumer confidence.
The UAE-based consumer electronics retailer said that it expects to see sales growth continue, as Dubai Shopping Festival kicks off on 20th January. Jumbo expects sales to be up 25% during the event from last year's festival period.
The retailer reported that smartphones showed the strongest rise in sales in 2010, up by 35%, along with strong demand for flatscreen televisions. Best sellers in the TV segment in Q4 were 46-inch and 50-inch LED models, and Jumbo says that it saw 3DTV sales move from early adopter sales into mainstream luxury sales.
Deepak Khetrapal, CEO of Jumbo said: "We ended 2010 on a high note, and this has placed us in an enviable position as we prepare for significant growth across businesses in 2011. With a strong start in January and the upcoming Dubai Shopping Festival, we are off with the best start to the year since 2008, which we should remember was a record year for the sector in the UAE.
"Our success stems from the trust that our customers and partners have in the Jumbo brand and we continue to look forward to strengthening those relationships. We pride ourselves on being the only consumer electronics retailer in all seven emirates and plan to grow our network through expansion locally and regionally in 2011," he added.
Jumbo is a key sponsor of the shopping festival, which runs until 20th February. The retailer will be offering a range of promotions for consumers, including the chance to win gold coins, money off vouchers, and electronic goods.