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SEA sees strongest Ramadan retail sales boost in three years: survey
Christmas & festivalsRetail industry (general)Asia (general region)
As community measures and travel restrictions eased, and more consumers in Southeast Asia hosted larger gatherings or planned trips to celebrate the Ramadan festive period, 2022 saw retailers enjoying their biggest sales lift in two years, according to adtech company Criteo.
Why it matters
Strong consumer appetite offers more opportunities for brands and retailers to encourage spending during the festive period through more targeted and differentiated sales campaigns.
This year’s 14% jump in retail sales compares with performance in the first two weeks of Ramadan each year, with 2020 as the baseline.
Sales were at their peak since the very beginning of Ramadan this year, specifically on the month’s double day – 4th April 2022.
In the region, this double date effect is most apparent in app sales (+76%), desktop sales (+36%) and mobile (+12%).
Online retail sales in the region surged 73% in early April 2022 compared with the first four weeks of March this year.
The top three product categories with sales surge on 5th May were health & beauty (+199%), furniture (+119%) and electronics (+107%).
Travel bookings were up 28% year-on-year in SEA in March 2022 as border restrictions continue to loosen in the region
Technology company Criteo analysed data from over 200 retailers in SEA, including around 664 million transactions over the period detailed, and surveyed 11,161 respondents across nine countries – Australia, France, Germany, Italy, Japan, South Korea, Spain, the UK and the US – with organic data from its 815 travel partners in over 20 countries.