Sharjah’s Ramadan retail sales peak at nearly $110m

Wam

Ramadan retail sales in Sharjah hit a new record high of AED400 million ($109 million) in 2024, reinforcing the positive outlook UAE companies had ahead of this year’s holy month.

Sales jumped 25 percent year on year during the Sharjah Ramadan Festival 2024, which concluded last Saturday, the UAE state-run Wam news agency reported, quoting the Sharjah Chamber of Commerce and Industry.

The event, which ran from March 8 to April 13, offered discounts of up to 75 percent on local and international brands.  

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Last month, UAE businesses said they were optimistic about Ramadan’s prospects despite a projected 10 percent decline in spending during the holy month.

According to a study by Redseer Strategy Consultants, the anticipated dip was linked to considerable consumer expenditures after the pandemic and during recent festive sales.

The report expected consumers to prioritise affordability this year, compared to last year.

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The General Civil Aviation Authority’s (GCAA) statistics showed that weekly flights from the UAE and Saudi Arabia rose 13 percent to 383 in March, compared to 338 in February.

The increase was driven by growing demand from Umrah performers during the last 10 days of Ramadan, which started last month.

Earlier this month, Monique Naval, a senior research analyst at Euromonitor, wrote in AGBI that despite the growing prominence of e-commerce, the number of traditional Ramadan markets has increased this year.

The most popular ones include the Artisan Market in City Walk, Hai Ramadan in Expo City Dubai and the Ramadan District at Jumeirah Emirates Towers.

These markets offer a sensory feast for guests and highlight traditional food, handicrafts and home-grown products, she said.