UK retailers are missing a trick when it comes to profiting from the Muslim market, according to a report published by the Arab Weekly. While some major brands, including MAC and The Body Shop have announced dedicated gift packages for those giving presents over Eid, several are yet to catch on to the opportunity.
Ramadan, which kicked off last week, is worth more than US$270 million to the major UK supermarket chains, according to data from Ogilvy Noor per Arab Weekly, as the UK’s 4.1 million Muslims purchase food and gifts for the highly anticipated celebration. However, some 62 percent of Muslim consumers are disappointed by the current engagement from retailers and brands.
“It is a growing economy,” Shelina Janohamed, Vice President at Ogilvy Noor told Arab Weekly. “Many brands are not aware of the opportunity in terms of spending… People don’t know that Ramadan is so huge in the UK.”
“Muslims are consumers like anyone else and spend more during Ramadan. That economic boost is great for this country and great for all the retailers who benefit from that,” Miqdaad Versi, Secretary General of the Muslim Council of Britain told Sky News.