News

Facebook Has Surveyed People About Their Ramadan Shopping & Media Habits

Published

3 years ago

April 1, 2021

facebook has surveyed people about their ramadan shopping and media habits

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Eager to learn more about the influence of the coronavirus pandemic on the shopping and media consumption habits of people during Ramadan, Facebook’s insights and research division, called Facebook IQ, and analytics firm YouGov published a marketing guide called Ramadan: This is the Joy of Discovery, which features key insights from their survey.

The survey was conducted between May 23 and June 13, 2020, and it included 17,758 participants. “Approximately 1,500 interviews were completed in 11 countries, with samples that were representative of the adult online population across age, gender and region in each market,” write Facebook IQ and YouGov in their marketing guide. “For the global average data cuts in this guide, we focused our analysis on the eight markets where Ramadan is celebrated by the majority of the population.”

Facebook

The most important insight is that the pandemic has fundamentally changed how people shop. Among those surveyed, 42 percent are planning to spend less time shopping in stores during Ramadan, choosing to shop online using their mobile devices instead. This is a major opportunity for marketers, who need to offer a seamless experience throughout the purchase journey to increase their conversion rates and sales.

During Ramadan, nearly half of all survey participants agreed that they spend more time on their mobile devices, and 8 in 10 said that they don’t put their smartphones and tablets down even while watching TV, including members of Gen X and Baby Boomers. One of their favorite activities around Ramadan is discovering shopping ideas, researching things to buy, and, of course, purchasing items.

Also Read: Microsoft Wants To Purchase Discord And We Know Why

The first shopping peak happens just before Ramadan, in mid-April, and the second shopping peak coincides with the start of Eid. Even though 39 percent of shoppers start planning their purchases about a month before celebrations start, only 20 percent have completed shopping when Ramadan begins.

For more insights like these, read the full marketing guide, which Facebook kindly published on its website.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.