Makkah, August 18: With the fasting month of Ramadan barely days away, stores are reporting 50 percent increase in sales.
Retailers are attributing the hike in purchases to two main reasons: Families buying bulk for Ramadan and supermarkets launching discount offers. Retailers say that prices of goods have not increased due to Ramadan. “Special offers are being offered to consumers at very competitive prices because of the competition among malls to attract customers,” they said.
A CEO of a famous supermarket chain in Makkah said Saudi families often stock up during this time of the year. “If a normal Saudi family buys around SR2,000 worth of goods per week before Ramadan, then their purchases will increase to around SR4,000 during the holy month,” he said.
He also denied there has been a rise in prices because of Ramadan.
The CEO agreed that although many malls and supermarkets are offering promotions, customers are often left disappointed as they find the goods sold very quickly.
—Agencies