Criteo: Retail sales to rise by 51% over Ramadan
Mobile retails sales will be slightly higher during Ramadan, but will perform better in the lead up to the Holy Month.
Criteo, a performance marketing technology company, recently unveiled seasonal data designed to aid e-commerce businesses to better engage their consumers during Ramadan.
According to its research, Criteo's data showed that retail sales and traffic in the lead up to and during Ramadan increased in 2016. However, retail sales and traffic then declined during Eid el-Fitr, the religious holiday that follows Ramadan.
Criteo's report highlighted two key periods as the most opportune time for retailers and travel providers to connect with their respective clientele.
Compiled utilising consumer's online browsing and buying activity, other insights showed that travel bookings grew at a steady pace in the last two weeks of Ramadan, peaking in the two weeks post-Eid.
At the same time, mobile retail purchased peaked in the two weeks leading up to Ramadan, with mobile travel bookings spiking through Eid and the following week.
Both the two weeks leading up to Ramadan and the last two weeks of the Holy Month in 2016, saw sales increasing by 51% on average, while travel sales grew by 27%.
Another area explored by the report was the impact of Ramadan in influencing shopper's behaviour throughout the day. In 2016, e-commerce transactions prior to Ramadan equated to 73% during the day, while during the Holy Month the figure dropped to 64%. The company also found an increase in e-commerce sales, rising to 36% during the evening following the breaking of fast. This was up from 27% from the same time of day pre-Ramadan.
Dirk Henke, managing director Emerging Markets, Criteo, said: "Ramadan is a cherished tradition in this region, and has an observable effect on the purchasing habits and online activity of shoppers.
"Retailers and travel providers need to accommodate the changes that take place in the lifestyles of millions of people across the region in order to effectively engage shoppers across all touchpoints. Picking the right time of the week as well as the time of the day will be essential to optimising digital marketing efforts to deliver impactful content at every stage in the customer journey."