Customers checking Eid collection at a brand shop in Bashundhara City Shopping Mall — FE Photo Not only does the month of Ramadan bear immense religious significance but also its socioeconomic significance is second to none. Many quirky businesses can grow fast this month, which otherwise would be difficult at other times. Apart from fasting, abstinence and prayers, this month sees religious feasts and festivals that induce a business binge of various trades.
Food business: Many food- business ideas can be generated based on Iftar and Sehri. Although there will already be a prevalence of food carts specialising in Bengali Iftar items such as Chola, Muri, Piyaju, Beguni and so on, items that hold more appeal to Gen Z, such as Chowmein, Pasta etc, might be sold in the food carts this way.
The same goes for the Sehri items. As the businesses have to be Ramadan-centric, the temporary food carts need something unorthodox about them to attract more customers. Also, one approach to doing food business during this time would be to keep the price of the food items within the affordable range of people. The presence of physical food carts is not completely necessary, nowadays, as an online delivery system can also be developed, which, with proper advertising, might even be more successful.
Clothing business: Clothing can provide another means of business that can be taken up during Ramadan, considering the Eid factor. As most clothing outlets charge astronomically high prices on this occasion, setting a reasonable price might make your new platform desirable to the customers. Also, clothes with themes specific to Ramadan can be appealing to the masses.
Advertising ideas should be such as align with the religious and cultural significance that this month entails. Various clothes with Islamic and Ramadan-themed calligraphy, appropriated to our cultural norms, can be enticing for the younger and internet-savvy audience, which online-based marketing can bolster.
Electronics: This might help in generating an unconventional business idea for the month of Ramadan, and also a very unexplored one. If proper creativity can be carried out, this can be a good revenue-generating business idea. An e-commerce platform can be created to sell Ramadan-themed products such as prayer mats, digitised Islamic books, and so on.
A proper online-delivery service involving essential goods specific to the holy month can also be developed, as people fasting often find it difficult to fetch essential day-to-day items that they need to go on with their lives. A Ramadan app can also be developed with many different features, including making a person aware of the time of Iftar and Sehri and containing the recitations of the Holy Quran.
Grocery business: Grocery can get you an effective business idea suiting Ramadan business binge, as the groceries one needs in this month differ from those needed in all the other months. The grocery-delivery system might be made online, and the essential groceries might be sold at a lower price than normally sold during the month, which might lead to a boom in business.
The existence of business cartels often leads to price hikes of grocery items during the holy month of Ramadan. However, care should also be taken so that the items are of high quality, leading to an overall reputation enhancement.
The holy month of Ramadan holds religious as well as festal significance. Hence, businesses operating during this month should ensure that the people are not exploited.
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