Ramadan likely to boost consumer goods sales

Ramadan likely to boost consumer goods sales

The holy month of Ramadan represents a major opportunity for UAE brands and retailers in the consumer technology and durables sector to trigger volume sales. By implementing an optimised promotions strategy, retailers can drive consumer demand and maximise sales, a major marketing research agency says.

Analysis done by GfK from 2018 to 2021 indicate that brands that ran comparably less priced promotions outperformed the market and increased its revenue share. Low-promotion brands increased their revenue share on a significant higher level than the rest of the market in product groups which were stagnating or declining between 2018 and 2020 in terms of revenue, showing the importance of building brand value, GfK research shows. “Increasing the quantity of price promotions does not automatically help to increase long-term revenue share. Other factors like accurate promotion planning, brand recognition, brand equity, consistent price position, distribution and/or product features may be more important for a brand to be successful,” Hakim Amar, Head of Retail Partnerships, META, GfK, told Khleej Times in an interview.

Home appliances and telecom are always in great demand amongst shoppers during the holy month. Household appliances showed growth opportunities in 2022 and will continue to do in 2023 too, despite the growing