The onset of Ramadan has triggered a wave of consumer-friendly market initiatives across many Muslim-majority countries, where governments and businesses alike seek to ease the financial burden on households during the holy month. According to a Khaleej Times report, retailers in the United Arab Emirates have announced discounts of up to 70 per cent on thousands of products ahead of Ramadan 2026. From dates and beverages to personal care products and kitchen appliances, both online platforms and brick-and-mortar outlets across the Emirates have introduced extensive promotional campaigns covering groceries, household essentials, electronics and daily necessities.
A similar initiative has been undertaken in Qatar, where the Ministry of Commerce and Industry (MOCI) has launched its Ramadan 2026 Discounted Goods Initiative, reducing the prices of more than 1,000 products nationwide. The programme aims to lower the cost of essential and commonly used items, making daily shopping more affordable for fasting families.
This trend is not exclusive to the Islamic world. During Christmas in predominantly Christian nations, the retail sector typically enters a "festive buying spree." Much to the delight of the shoppers, markets become abuzz with big discount, promotional bundles and extensive campaigns designed to boost sales volumes while providing greater value to consumers.
During festivals, consumer demand naturally rises, prompting businesses to lower prices to scale sales volumes. In economic terms, this reflects a strategy of lower margins but higher turnover. In the global marketplace, festivals are therefore seen as opportunities to capitalise on demand spikes through competitive pricing and expanded sales. Beyond immediate profits, businesses also use the festive season to strengthen customer loyalty, enhance brand visibility and scale their market reach.
Bangladesh, however, presents a sharp contrast. While festival seasons elsewhere are marked by relief for consumers, shoppers in Bangladesh have to dig deeper into their pockets to meet basic necessities. Over the last week, prices almost all essential items increased sharply marking the onset of Ramadan. Take lemons as an example. Just a week before the month of Ramadan, limes were selling at Tk 20 to Tk 40 a set of four(hali). By Thursday, prices of per hali lemon surged to Tk 80 to Tk 120!
Such unusual hike in prices of food items in high demand during the fasting month is not a new experience; it has become an annual phenomenon. Similarly, clothes and shoes become more expensive before Eid-ul-Fitr, and so is the case for the livestock market during Eid-ul-Adha.
Offering discounts during festivals is not merely an economic imperative; it also reflects a commitment to upholding the principle of shared prosperity. Besides, conducting trade with fairness, a mentality of giving and empathy is a profound moral and religious obligation. In the Muslim world, Ramadan is a month of restraint, empathy and self-purification, where believers must collectively abstain from acts that are morally indefensible or harmful to others. Similarly, in Christianity, Christmas symbolises charity and grace.
A stark contradiction arises when unscrupulous traders, many of whom are themselves fasting and praying, engage in sinful activities by chasing windfall profits. While business is inherently profit-driven, there is a clear distinction between 'fair profit' and 'opportunistic gain.' To exploit the faithful during a time of devotion is sheer hypocrisy and a mockery of the very tenets of Islam. It is, therefore, hoped that traders will reflect on the true essence of Ramadan and global best practices. By embracing festival-centric economies of scale, businesses can foster long-term growth while ensuring that the joy of the festival reaches all.
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