Dubai’s trade sec­tor to see high de­mand Price com­pe­ti­tion, ac­ces­si­bil­ity and global de­mand among key fac­tors ex­pected to boost mar­ket: Sur­vey

The Gulf Today - Business - - FRONT PAGE - BY A STAFF REPORTER

DUBAI: Dubai’s trade sec­tor is fore­cast to record ro­bust de­mand in 2018, sup­ported by key fac­tors such as price com­pe­ti­tion, ac­ces­si­bil­ity and global de­mand, a new sur­vey from the Dubai Cham­ber of Com­merce and In­dus­try has re­vealed.

The re­sults of the Dubai Cham­ber Traders Out­look Sur­vey 2018 were re­vealed dur­ing a busi­ness sem­i­nar hosted at Dubai Cham­ber’s premises which was at­tended by traders and rep­re­sen­ta­tives from the lo­cal busi­ness com­mu­nity.

Ac­cord­ing to the sur­vey, traders of house­hold goods were most op­ti­mistic about their per­for­mance in 2018, fol­lowed by those oper­at­ing in the ma­chin­ery, con­sumer goods, and tex­tiles sub-sec­tors. A strong ma­jor­ity of sur­vey re­spon­dents said they ex­pect cus­tomers to be more se­lec­tive and de­mand­ing in the near fu­ture.

Most of sur­veyed traders said they are plan­ning to boost their com­pet­i­tive­ness this year, and iden­ti­fied ef­fi­ciency and cost cut­ting, e-com­merce, sup­ply chain man­age­ment, use of mar­ket in­for­ma­tion and prod­uct di­ver­si­fi­ca­tion as key ar­eas where they hope to im­prove their op­er­a­tions.

The sur­vey out­lined sev­eral recommendations for busi­nesses to ad­dress cur­rent mar­ket chal­lenges, in­clud­ing in­tro­duc­ing easy and flex­i­ble pay­ment op­tions, prod­uct dif­fer­en­ti­a­tion, trans­port­ing in bulk to reap economies of scale, ne­go­ti­at­ing rents or con­sid­er­ing new rental op­tions, and ex­plor­ing new mar­kets in Africa and Latin Amer­ica which may po­ten­tially of­fer more growth op­por­tu­ni­ties.

The busi­ness sem­i­nar at the Cham­ber con­cluded with a de­tailed pre­sen­ta­tion on at­trac­tive trade op­por­tu­ni­ties in South Amer­ica and high-po­ten­tial prod­uct cat­e­gories where Dubai traders could di­ver­sify and boost their ex­ports to the con­ti­nent.

Among the prod­ucts that of­fered some of the high­est re­vealed com­pet­i­tive ad­van­tage (RCA) to UAE ex­porters were alu­minium and ar­ti­cles, ships, boats, float­ing struc­tures, or­ganic chem­i­cals, man­u­fac­tures of straw and bas­ket ware, pre­cious met­als and stones, as these prod­ucts could be in de­mand in po­ten­tially grow­ing South Amer­i­can mar­kets.

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