Infographic: Grocery Shopping Trends During Ramadan
Is your company part of the Middle East Food & Beverage retail sector? Fintech company PayFort, in association with on-demand grocery startups InstaShop and Todoorstep, has compiled some interesting stats to help you understand how the ongoing holy month of Ramadan impacts grocery and consumer shopping in the region. Collecting data from various sources, the infographic titled "Grocery Shopping Trends During Ramadan," highlights key trends and changes the food industry can expect (and be prepared for) during the season. With regard to total food spend, it's been found that consumers expect to spend around 50% more than usual on goods and services during Ramadan, with groceries making up almost 22% of monthly budgets in the season. The study also finds consumers shifting their shopping to large hypermarkets from smaller grocery stores, and interestingly, online shopping is said to rise by almost 110% in the period leading to and during Ramadan. While consumers are largely accepting of the increased food prices during the season, retailers should know that promos like "Buy One Get One," price discounts, and cashbacks are all big hits with consumers in the month of Ramadan. For more insights on such food retail trends during the month, check out the infographic below.