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Southeast Asia sees strongest Ramadan retail sales increase in three years

Criteo S.A., a global technology company, released its most recent regional retail sales and travel data observed during Ramadan, including sales performance in the first three weeks of April 2022.

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Consumers in Southeast Asia are having larger Eid celebrations this year as the region’s expected GDP growth continues to rise. Comparing the retail sales performance in the first two weeks of Ramadan across the years, with 2020 sales figures as the baseline, this year has seen an increase of 14 percent. This arises as regional community measures and travel restrictions loosen – such as Singapore, where the cap on the number of unique guests per household has been lifted. In addition, Thailand and the Philippines have also opened their borders to fully vaccinated travellers, while Malaysia and Indonesia have eliminated entry restrictions and quarantine requirements.

“With the easing community measures and travel restrictions, more consumers in the region might be looking to host larger gatherings or planning domestic and international trips to celebrate this festive period with their families. As a result, we are seeing the largest retail sales lift in 2022, in comparison to the past two years,” explained Taranjeet Singh, Managing Director, Southeast Asia and India, Criteo.

“For brands and retailers, this strong consumer appetite brings more opportunities for them to encourage spending during this festive period through more targeted and differentiated sales campaigns,” Singh added.

The sales trend for Ramadan this year has been at an all-time high, especially on the month’s double day, 4th April 2022. This double day effect is most noticeable in the region on App sales (+76 percent), followed by Desktop sales (+36 percent), and finally Mobile (+12 percent). In the first four weeks of March 2022, internet retail sales in Southeast Asia were up by 73 percent.

SEE ALSO : Singapore retail sales rose 8.7 percent in March 2022

Indonesia had the largest gain in the region during the double day sales on 4th April, at 85 percent. On the same day, Singapore (+59 percent) and Malaysia (+30 percent) come in second and third, respectively.