[lead]Ramadan officially begins on the 23rd April![/lead]
But we thought we take a little look at the impact of this big event ahead of the festivities, especially the effects it has on retail and our favourite brands.
Last year, Tactical delved into the history of Ramadan and what this Muslim celebration actually consists of. But here’s just a little refresher:
Ramadan is a Muslim holiday which, this year, takes place between April 23rd and May 23rd. For those who take part and for those who are able to, it’s a period of fasting where eating and drinking ceases between sunrise and sunset. Ramadan is a time where those of the Muslim faith feel closest to the god Allah, and generally spend there time conducting good deeds, reflecting on their spirituality and celebrating with family and friends. The holiday ends with a huge feast, celebrating Eid-al-Fitr or the Festival of the Breaking of the Fast as it is also known. This consists of gift-giving, family parties and lots and lots of delicious food. So, how does this affect retail?
The numbers…
According to Tactical’s very own infographic,
- The UK Ramadan Economy is worth of £200 million!
- There is a surge in retail sales around 1-2 weeks before Eid-al-Fitr
- Brands are due to increase spending during these festivities
- The third/fourth week of Eid produces the highest ROI due to impulse purchases
And with these kinds of numbers, it’s essential that brands adapt their marketing in order to fully reap the benefits in this time increased spending.
So what can Tactical do for you?
Overall, here at Tactical, we can help your brand get prepared for the upcoming festivities. Using our impressive methods involving data analytics, we can analyse your retailer EPOS in order to recognise opportunities to increase product availability and sales within store, as well as instances of lost sales and promotional compliance in order to improve and prevent.
