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Thu 31 May 2018 09:57 AM

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Three reasons why Ramadan is set to provide a retail boost

Business might slow at this time, but for shops it's boom time

Three reasons why Ramadan is set to provide a retail boost
Business might slow at this time, but for shops it's boom time
Three reasons why Ramadan is set to provide a retail boost
1. Offers: Ramadan is traditionally a time for retail offers, particularly for large-ticket items like consumer electronics – excellent for pre-World Cup flatscreen purchases this year, it has to be said – and cars. According to a YouGov survey, 40 percent of UAE consumers believe that the Holy Month often has the best deals of the year on these items, and two in five increase their spending.
Three reasons why Ramadan is set to provide a retail boost
2. E-commerce: More time away from the office and more late nights means more time online. According to figures from Facebook, the platform experienced a 16 percent increase in usage last Ramadan compared to the previous three months. The same study claimed that there is an accompanying increase of 35.8 percent in e-commerce activity in the region.
Three reasons why Ramadan is set to provide a retail boost
3. Travel booking: At the end of Ramadan comes Eid Al Fitr, of course, so the planning and purchasing for the extended holiday takes place during the Holy Month – especially when it’s combined with the school holidays as they are this year. In 2016, for instance, travel sales increased 27 percent month-on-month during Ramadan, with competitive deals on offer as Eid approached.