Food, shopping and travel top family spending options in the UAE during Ramadan

 

Food, shopping and travel top family spending options in the UAE during Ramadan

Consumer spending in the country increases during the month of Ramadan on food, shopping, entertainment, communications, restaurants, donations, community activities and travel, in addition to spending items related to purchasing gifts, Eidiya and household services.

A recent survey conducted by the Abu Dhabi-based Interregional Strategic Analysis Center confirmed that family consumer spending in the UAE increases by rates ranging between 20 and 40% during the month of Ramadan, which is considered a major consumer season in the UAE, as spending increases across various sectors, supported by offers and discounts in the markets.

Interregional explained that families in the UAE allocate a larger portion of their budget to consumer spending during Ramadan, with a focus on shopping, social activities and eating out, and these items reflect the nature of the month in the country, which increases spending significantly.

The month of Ramadan is a major driver of market growth in many sectors, supported by family consumer spending in the UAE. The survey indicated that spending may decline in the UAE on some items due to changes in daily habits, most notably: non-Ramadan entertainment such as reduced spending on cinema, parties and events that do not suit the nature of the month.

Spending on transportation and transportation not related to work or business and eating during the day decreases, as does spending on cafes and restaurants that rely on fast food, and family spending on gym subscriptions.

In contrast, the "Interregional" survey showed that many families in the UAE tend to save during the month of Ramadan by rationalizing spending on food, buying only essential supplies, not exaggerating in buying large quantities of food and drinks, and by buying from offers and discounts, especially from wholesale outlets.

These families also tend to prepare food at home instead of ordering ready-made meals, rely on mutual family eating habits instead of eating out, control the budget for gifts and Eidiyas, choose symbolic gifts instead of overspending on luxury brands, avoid random purchases of clothes, reduce electricity and water consumption, rationalize spending on travel, avoid high ticket prices, and reduce spending on decorations and entertainment events and on expensive entertainment activities such as large parties or paid events.

 The Interregional survey advised the need to plan ahead, prepare a specific budget for spending during the entire month of Ramadan, and develop a plan that includes all expected expenses during the month, and avoid random purchases, especially with the tempting offers in the markets, which helps families in the Emirates achieve a balance between enjoying Ramadan and saving.