Ramadan is the holiest month of the year in the Islamic calendar. More than one billion people in the Arab and Muslim world celebrate the holy month in different ways depending on their cultural backgrounds. However, there is one characteristic that most Arabs and Muslims have in common during Ramadan which is extreme consumption. This, in turn, constitutes a great opportunity for companies to market their products. Some statistics show that Arab spending on food, clothes, perfumes, and other goods almost doubles during this month. Many producers and marketer do their best to take advantage of the huge shopping appetite by introducing sales among other special offers aimed at increasing their revenues.
According to some estimates, the spending of Arab families in the Arab world and in the Gulf countries in particular is three times higher than their average spending during the rest of the year. Many attribute this trend in consumption to marketing strategies that have been successful in attracting new customers. This phenomenon is not limited to the gulf countries; however, it is most clear in this region for reasons of social welfare and financial wealth. In Saudi Arabia, for example, the spending of Saudi individuals tends to increase by around 150% in Ramadan compared to their average spending for the rest of the year. Such numbers and statistics encourage new investors to turn their attention to this region.