Summary
This report analyzes consumer spending patterns during the holy month of Ramadan, focusing on the night-time economy in Gulf Cooperation Council countries and other Muslim-majority nations. It highlights how consumer behavior shifts significantly, with increased spending occurring during late-night hours due to changes in daily routines caused by fasting. The report details the peak spending times, particularly around iftar and suhoor, and notes that merchants in sectors such as food, retail, and hospitality can benefit from adjusting their operating hours and staffing to meet demand. Additionally, the report outlines how spending habits evolve throughout Ramadan, with a notable increase in transactions for clothing and luxury goods as Eid al-Fitr approaches. The findings are based on anonymized VisaNet data and provide insights for banks and merchants to better cater to consumer needs during this period.
