Emirates co-operative supermarkets offer Ramadan discounts
With Ramadan, underway, co-operative retailers in the United Arab Emirates are offering discounts for essential products.
Ramadan began on Monday 6 June and runs for 30 days. Retailers expect food consumption to increase again during Ramadan this year. While most consumers spend the day fasting, they often get together for family meals, breaking the fast at dusk. As a result, food sales increase by an average 10% during Ramadan.
The UAE, a federation of seven states, is one of the Middle East’s most important economic centres and retail remains one of the fastest growing sectors. According to Euromonitor International, a consultancy firm, the UAE retail market is expected to be valued at $53.7bn (£37.1bn) in 2016, up 7% from 2015.
This means local UAE co-operatives are faced with increased competition from big retailers. One of the country’s main co-operative retailers, the 26,000-member Union Coop, announced that it would offer over 1,000 products at affordable prices, in collaboration with 730 suppliers.
Khalid Al Falasi, general manager of Union Coop, told Khaleej Times.“The campaigns, meant to alleviate the financial burden of residents, include the biggest ever 46-day Ramadan campaign worth Dh350 million (£65.8m).
“Up to Dh68 million (£12.8m) has been allocated to make the goods available at the 16 branches of the Union Coop across the country.”
Media manager IMAD Rashid said: “Union Coop is Dubai-based and until now has served only its community, while most of our competitors are UAE and globally-based, such as Carrefour, Lolo Hypermarket and Spinneys.
“We at Union Coop are heading towards a different strategy from our competitors, focusing on quality and customer happiness.
“We also strive to compete by offering reasonable prices off and on promotional campaigns. Union Coop is very well known as corporate social responsibility sponsor to many local, social services.”