Jumbo records 20pc growth in H2 2010
Dubai, January 18, 2011
Jumbo Electronics, the UAE-based consumer electronics giant, today announced a recorded sales increase of 20 per cent for the second half of 2010, compared to the same period in the previous year.
Jumbo also begins the year on a bullish note, a statement said.
With the launch of the Dubai Shopping Festival (DSF) this week, the company’s CEO Deepak Khetrapal said he expects the recovery to continue with a predicted sales boost of 25 per cent on last year’s festival figures.
Khetrapal sees this growth resulting from renewed consumer confidence and increased visitor numbers – as well as from Jumbo’s reinforced commitment to the best-in-class value proposition for discerning customers and market-leading customer-service.
Khetrapal also believes that retail growth this year will be attributed in part to the recent game-changing technology launches including tablets, led by the iPad.
At Jumbo stores, smartphones sales showed the sharpest rise among products in 2010 – up 35 per cent on 2009. Mobile phone sales continued to show no sign of drop off, with Jumbo typically seeing its customers upgrading their handsets every six to ten months.
There was also a strong demand for flat screen televisions. Jumbo’s biggest sellers in Q4 were 46” and 50”+ LED TVs with rising sales of 3D LED TVs, as customers increasingly ‘go large’ at home and the 3DTV experience moves from the early adopter segment into luxury mainstream, he said.
Speaking on the outlook for 2011, Khetrapal 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.”
Jumbo now has over 35 stores across UAE and Oman and is now focused on expanding its retail presence in Qatar, Bahrain & Kuwait.
Along with ambitious expansion plans, Jumbo also plans to grow the brand beyond retail in areas such as IT solutions, expanding on consumer appliances side through its Supra brand, and leveraging its strong distribution capabilities.
Jumbo has been a key sponsor of Dubai Shopping Festival since its inception in 1996. It will offer many consumer promotions during the festival. – TradeArabia News Service