Retail - Freitag, Januar 16, 2009 20:14 - 0 Comments

Retailers blame high prices on soaring mall rents

Retailers in Dubai are blaming their high prices on soaring rents in the city’s shopping malls, as tourist spend slides and cautious consumers turn to the internet for better deals.

The ninth annual Dubai Shopping Festival (DSF), which kicked off on Thursday and runs until Jan. 15, is hoping deep discounts will convince credit-struck consumers to visit the emirate this month.

But retailers claim the high cost of retail space is pushing up their prices, putting further pressure on tourist spending, which some say is down by as much as 50 percent compared with last year. Continue…