Souq.com predicts surge in online spending during Ramadan
Online retailer reveals mobile apps to overtake desktop PCs in driving e-commerce sales
E-commerce platform Souq.com has revealed that a combination of reduced working hours and a celebratory atmosphere means online spending will be higher during Ramadan.
According to Google data, online deals and Ramadan promotions were among the most popular searches during the Holy Month in 2014 and 2015. To take advantage of consumers' increased online time and the gifting season in the Middle East, Souq.com has announced exclusive deals to welcome Ramadan and celebrate the spirit of giving.
Furthermore, in 2015 Souq.com witnessed significant growth in m-commerce and app purchases during Ramadan, which shows mobile devices are used more often than other devices in the region and more so during Ramadan.
Statistics also show that online traffic in the UAE was at its peak between 11am to 4pm whereas in the KSA it was particularly high during 9pm to 4am and 2pm to 4pm.
While consumer electronics category was leading in terms of sales during Ramadan in 2015, Souq.com also experienced a phenomenal increase in number of lifestyle products sold especially via its increasingly popular mobile app. Google data also reported a peak in search interest for perfumes and celebratory clothes for the holiday during the festive period.
Ronaldo Mouchawar, Souq.com CEO and co-founder said: ‘‘Ramadan has always been an exciting period for Souq.com and we will continue to fulfill the increase in consumer demand. Last year, we saw an increase in online consumer spending by 24% in the U.A.E and 15% in the KSA during Ramadan and we expect similar uplift this year. We observed a huge increase in new users for categories such as consumer electronics, and a pattern of repetitive buying for fashion and lifestyle products. Today's tech savvy consumers understand the advantages of shopping online such as convenience, competitive pricing and a greater variety.
"People in MENA are now online more than ever before and in Ramadan this trend escalates even further. Each year, we aim to launch generous Ramadan deals in line with our objective of personalising our customers' experience, providing them with unparalleled shopping experience and exceeding their expectations. With consumers spending more time online during Ramadan fueled by seasonal demand for shopping and gifting, e-commerce industry is set to witness significant upsurge during this festive season."