The retail sector is witnessing exceptional activity and an increase in sales and the number of shoppers during the first two weeks of Ramadan
United Arab Emirates, Dubai:
The retail sector, which is one of the main sectors supporting the growth of the national economy, witnessed an exceptional activity during the first two weeks of the blessed month of Ramadan, in addition to the unprecedented acceleration witnessed by this vital sector in the world of e-commerce, driven by the great technical development and the difference in the consumption behaviors of individuals since the beginning of Ramadan of the current year.
According to the Union Coop report for the month of April, the cooperative confirmed that sales returns are positive for the retail trade sector during the first two weeks of the blessed month of Ramadan, according to reports and statistics by specialists in the same field, as indicators revealed that the increase in retail trade and sales of retail outlets resulted from the increase in the number of shoppers since the beginning The holy month, pointing out that the retail trade sector continues to achieve exceptional heights, consolidating its position as one of the pillars that contribute to enhancing the competitiveness of the Emirate of Dubai’s economy and the development of various sectors since the beginning of the year and continues to do so.
In its report, the Cooperative indicated that the positive impact on the retail trade sector was reflected in the sales of all retail outlets and the volume of their business, according to reports and statistics of companies specialized in this, as a result of the increase in the number of shoppers and the volume of promotions and intense competition between all companies and outlets specialized in retail trade, which made it reflect a clear vision in reviving the economic movement and highlighting the cultural and developmental face that characterizes the Emirate of Dubai.
The cooperative indicated that the month of Ramadan is considered a month of opportunities for all retail outlets to achieve high sales, due to the procedures and plans followed by the outlets to support its business community and increase its sales, pointing to an example in which it set out to fight inflation and high prices, by fixing the prices of 70 commodities and food and non-food products, for a 6 months period, which makes the cooperative one of the most important entities that maintain price stability in the markets within the Emirate of Dubai, and contributes to enhancing the economic and commercial movement and providing the opportunity for other outlets to adjust prices, and all of this is in the interest of the consumer and the shopper in the first place.
Union Coop explained that what distinguishes the holy month of Ramadan for this year is that it is of particular importance because of its benefit to shoppers and the retail sector alike during a stage in which both parties are witnessing a recovery from past economic challenges.
It added that the festivals of offers and discount campaigns that meet the needs of shoppers have a great role in enhancing competition between all shopping centers to provide the best, gain the confidence of shoppers and increase sales rates, and this was embodied in the campaigns of the holy month of Ramadan through the success it witnesses by attracting hundreds of shoppers, which confirms the ability of the retail sector to stimulate commercial and economic movement during this important month that shopping centers await annually.
Union Coop said that the organization of the “Retail Summit 2023” last March had a significant impact on the increase in sales and competitiveness indicators among all parties involved in the retail trade sector during the current and future period, due to the challenges that were discussed in the retail trade sector and the development of appropriate solutions for them in cooperation with retail decision makers representing of the most important leading international brands, as the summit confirmed the existence of an unprecedented acceleration in the world of E-commerce, driven by the great technical development and the difference in the consumption behaviors of individuals. Those working in the retail trade sector must closely follow these changes in order to understand them, build on them and improve their outputs, whether on business itself or to the final consumer.
At the end of its report, Union Coop stressed the importance of exploiting opportunities for shopping centers and shops to stimulate sales and raise revenues, expecting, according to statistics, reports and indicators of specialized companies, that revenues will increase during the coming months and that sales will increase in general, due to the procedures and campaigns that all outlets are carrying out that will contribute significantly In attracting hundreds of shoppers and renewing consumers’ confidence, especially with the centers offering many distinguished offers on a wide range of products, providing an example of what Union Coop has done to keep pace with global developments by launching the first integrated online store in the virtual world “Metaverse”, which allows shoppers to shop as if they were inside The branch, expecting that this application will be appreciated by everyone, as it saves them a lot of effort and time and makes them live a new and unique shopping experience.