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Dubai: ‘Haven’t you bought a new TV yet?’
This is another question being asked repeatedly as UAE consumers prepare to watch the World Cup on their TVs – with new options. Last weekend saw a significant increase in TV purchases across all electronics and online stores in the UAE, with retailers offering discounts of 10 to 30 percent on models. (This past week there was also an ‘11.11’ promotion, which helped with resources.)
But the prices of television shows are already showing a decline. “Since there has been a reduction in panel prices and freight charges, there are good opportunities to increase sales,” said the retailer. “We see a huge demand for TVs, especially big ones during the World Cup promotion. People want to have an ‘authentic’ experience while enjoying this highly anticipated event coming to the region for the first time.”
TV and home appliance prices have been falling due to very weak consumer demand in the US, UK and Europe, and the UK economy is seen as entering a recession. “As a result, many producers have excess capacity and excess supply that they are trying to offload to other markets, including the Middle East.”
The teams have already arrived in Doha, and November 20 marks the start date. UAE marketers are expecting another tough round of TV sales happening in the next few days.
Image Credit: Reuters
Ahead of all the global sporting events, TV sales in the UAE registered a bounce. But this time, with the Games set to begin in Doha, the sense of expectation and need for improvement is acute. There’s a lot at stake here as these sales could set up salespeople for all the other jobs placed between now and the end of the year.
“The holiday season can account for 20 percent or more of annual sales for many retailers,” said Mohammed Badri, Director of Eros Group.
A 40% increase in Google searches for ‘discount’ interest shows that consumers want to get the best deals to make the most of it.
– Mohammad Badri, Director, Eros Group
Where will you host the World Cup?
Television viewing and social media platforms are often the main choice for UAE/Gulf based football fans who want to catch matches in Doha. This is where larger screen TV models come with a built-in advantage – especially as their prices are more affordable, especially in the 50 to 60 inch range.
According to Redseer, a consultancy specializing in marketing, the gross sales value (GMV) could touch 8.4 billion dollars of online sales in the Middle East during the upcoming Black Friday and other year-end sales. This is against about $6.5 billion last year – clearly, consumers in the region will not be as cautious about spending as their peers in the West.
TikTok will be one of the biggest channels where this audience will engage with content; in 2021, there were 129 billion comments of the #football hashtag worldwide on the platform.
-Joanne Chehab of TikTok
It’s time for the brands to go all out
“The future of football is an incomparable opportunity for products to enter a large, interesting, and highly engaged audience,” said Joanne Chehab, Head of Business Relations for Managed Services, Global Business Solutions, MENA – TikTok, who worked with Redseer on the new results. “TikTok will be one of the biggest channels where this audience will engage with content; in 2021, there were 129 billion views of the #football hashtag worldwide on the platform.
“TikTok is the place to be for brands that want to capture the moment of football and connect/engage their audience with authentic and impactful stories.”
Not just local/regional shoppers, the report also found an additional $4 billion in spending from tourists and football fans coming to the region. Of this, 51 per cent is attributed to accommodation expenditure.
All that happens next week. Meanwhile, UAE consumers are leading the way – and they have new TVs on their minds.
93% of viewers will watch the FIFA World Cup with their friends and family, highlighting the theme of unity that will run through this festive season. The current digital era promises to make this football tournament the most inclusive
-Akshay Jayaprakasan, Editor and Contributor, Redseer Middle East
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