Bangladeshis spent big through cards during Ramadan: Survey

Dhaka, August 14 (UNB) – 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 percent, whereas the number of transactions was up by over 8 percent as compared to the festive season last year.

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 percent during the third week of Ramadan compared to a typical month.

Shops of apparel and accessories, general retail goods and electronics grew by 10 percent, 3 percent while 1 percent respectively in Visa transactions during Ramadan 2018.

E-commerce transactions and spends saw high growth of 48 percent contributing to 8 percent 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 percent in 2018 in comparison to the festival spend in 2017.