Markets in Aden are experiencing increased activity as Ramadan approaches, with price reductions introduced to ease the financial burden on citizens amid challenges such as irregular salaries and currency fluctuations.
As Ramadan nears, the markets in Aden are beginning to regain their vitality, buoyed by the establishment of a 'Ramadan tent' by the Economic Foundation. This initiative aims to lessen the financial pressure on citizens who are facing irregular salary payments and volatile exchange rates. According to reports from traders, buyer engagement is estimated at 70% to 80%, with hopes that the activity will increase further following the disbursement of salaries.
Omar Sadiq, a supervisor for one of the participating businesses, mentioned that while initial reactions to the new concept of the Ramadan tent were hesitant, customer interest has gradually improved. He emphasized that the main driver of the market in Aden remains the timely payment of salaries, which significantly influences consumer spending patterns. This seasonal spike in market activity is seen as crucial for local vendors, particularly as they navigate the challenges posed by a fluctuating economy.
Citizens touring the Ramadan tent expressed their observations of noticeable price disparities, ranging between 500 and 1500 riyals per item when compared to regular retail markets. Some traders disclosed discounts of 30% to 40%, and even up to 50% during 'golden hours'. A representative from one company highlighted that the goal is to sell at lower profit margins and support the Economic Foundation's efforts to maintain affordability for essential goods, ensuring that residents can access necessary supplies during the holy month.
