30% increase in sales at commercial centers.
The offers contain products undervalued by about 50 percent and despite the significant reductions in prices during Ramadan. (AN photo by Khalid Al-Khamis)
JEDDAH: Sales in shopping centers may go up by 30 percent during Ramadan, say experts. Many households, they say, go for bulk-purchase of food and other products in this month. Farouq Al-Khateeb, an economist, warned consumers not to be lured into the discounts announced by shops and commercial centers with the aim of achieving certain gains such as discharging their overstock of sitting and nearly-expired goods. "Such announcements are meant to discharge goods and commodities that are not in high demand. The offers contain products undervalued by about 50 percent and despite the significant reductions in prices during Ramadan, this only indicates that they were sold at inflated prices in the first place without the market control bodies ever noticing," Al-Khateeb said. Wasif Kabli, deputy chairman of the Commercial Committee at the Saudi Council of Chambers of Commerce, and member of its Food Committee, said some commercial centers compete against each other with the approach of Ramadan, which can drive prices down. Mohammad Al-Nahdi, a retail investor, confirmed that sales increased by 30 percent during Ramadan, saying that the Ramadan month represents a good chance for merchants to discharge accumulating stocks of food stuff. Saeed Al-Ahmari, a consumer, said that during the current period of high retail competition consumers should be careful when purchasing any products that are drastically reduced in price, and should investigate the causes behind this reduction.
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