Demand for goods increases in Saudi Arabia as Ramadan approaches
The local Saudi market is experiencing growth in business activity and an increase in demand for food and consumer goods, informed sources told Asharq Al-Awsat.
The surge in demand coincides with the advent of Islam’s holy fasting month, Ramadan.
For Saudi merchants and importers, Ramadan is one of the most important seasons for trade.
According to sources, the war in Ukraine did not register any negative repercussions on the local market or on the supplies of the Kingdom. This is due to Saudi Arabia’s experience in handling the crises that are sweeping the world.
By browsing several points of sale, buyers easily spot the clear distribution of promotional offers on food and consumer goods. Ramadan offers come in various forms to attract local consumers.
The Saudi Ministry of Environment, Water and Agriculture had earlier confirmed the availability of commodities and the security of agricultural, animal and food supply chains. The ministry said the Kingdom has achieved high sufficiency rates thanks to the multiplicity of import sources around the world.
Muhammad Al-Shaalan, chairman of the board of directors of Abdul Rahman Al Shaalan Sons Trading Co., told Asharq Al-Awsat that there are two main factors to control the situation in the local market.
The first factor relies on the success of the importing trader in supplying the product from the country of origin with follow-up from the Ministry of Commerce.
The second factor revolves around consumer confidence in the local market.
According to Al-Shaalan, consumer confidence in the local market has been proven during the coronavirus pandemic. Despite the pandemic affecting markets around the world, Saudi consumers were unafraid of low supplies and no mass purchases were recorded.
This reflects the consumer’s trust in the government and the merchants who supply the goods.
Regarding traders’ import strategy, Al-Shaalan said that the season starts from November and lasts until January.
He noted that this period includes the harvest and manufacturing season, during which the order is fully fixed, after which the trader presents his import plans for this product, which is usually spread over the 6 months following the harvest season. .