Consumers set to spend more during Ramadan

The holy month of Ramadan will witness a dynamic shift on how residents will buy goods and services given the surge in online shopping and digital payments across Mena region.

A new survey from payments solution provider Checkout.com suggests there will be an even greater surge in online shopping during the Ramadan period. The survey was commissioned by Checkout.com and conducted by Yougov, polling 1,000 consumers in both the UAE and Saudi Arabia from March 23-28.

Consumers in the UAE and Saudi Arabia have noted a strong inclination towards online shopping. Almost 95 per cent of those surveyed in these two countries say that they shop online, with 29 per cent doing so weekly or even daily.

Sajid Azmi, founder and chief executive of Yegertek, said: “Festivities around Ramadan result in an increase in both in-store and online shopping. While business sentiments and shopping are high, so is competition. And this is where brands who have spent on building loyalty by knowing their customers and their preferences, will have a unique opportunity during Ramadan to gratify their needs and provide personalised offers, whether for the customers own festive shopping or in the form of gift vouchers for their near and dear ones. An effective cus

Brands who have spent on building loyalty by knowing their customers and their preferences, will have a unique opportunity during Ramadan Sajid Azmi,

Founder and CEO of Yegertek

tomer loyalty programme will have already created a preference for a brand during the rest of the year. This ensures that a significant number of customers turn to that retailer for their Ramadan shopping.”

The most popular category of products is expected to be groceries, with 60 per cent of respondents planning to purchase these online more frequently this Ramadan. Mohammed Ali Yusuf, Menap regional manager at Checkout.com, said: “Many traditionally cash- centric countries in the Middle East are now converting to higher rates of digital payments.”