Bangladeshis spent big through cards during Ramadan: Survey
14 Aug 2018, 15:16
Dhaka: Bangladeshi consumers spent significantly more during this year’s festive season of Ramadan and Eid in comparison to 2017, according to a study released by Visa, the global leader in digital payments technology.
The report shows that spends on Visa cards in Bangladesh during Ramadan and Eid 2018 increased by 7 per cent, whereas the number of transactions was up by over 8 per cent as compared to the festive season last year, reports the UNB.
The average spending per Visa card also increased in the month of Ramadan as compared to that of a normal month.
The report indicated that spends increased by as much as 60 per cent during the third week of Ramadan compared to a typical month, reports the UNB.
Shops of apparel and accessories, general retail goods and electronics grew by 10 per cent, 3 per cent while 1 per cent respectively in Visa transactions during Ramadan 2018.
E-commerce transactions and spends saw high growth of 48 per cent contributing to 8 per cent of total sales volume during this period.
Airlines (20pc), Education and Government (15pc) and Travel Services (13pc) topped the e-commerce market segments by spend, said the report.
The Ramadan report also indicates that international usage of Visa card took a step ahead by growing by 11 per cent in 2018 in comparison to the festival spend in 2017.