by NADEEM BADSHAH £200M MARKET IS ‘UK’S BIGGEST UNTAPPED BUSINESS OPPORTUNITY’ FROM luxury chocolate-covered dates to halal sweet hampers, more big brands are looking to cash in on the £200 million-plus Ramadan economy. Research has shown there has been a rise in spending on food and gifts among British Muslims during the holy month of fasting, which takes place from mid-May for around 30 days. It has led to more supermarkets and big brands entering the mix, with Morrisons selling a Ramadan countdown calendar, similar to an advent calendar, for children. MAC cosmetics, the Body Shop and Godiva chocolates are also selling products as gifts for Eid celebrations later this month. Waleed Jahangir is CEO of Algebra Consulting which held a Muslim Lifestyle Show in April and is hosting an Eid Festival at Westfield mall in west London on June 23 and 24. He believes that so called modest fashion, non-alcoholic wines and the organic and healthy halal food sectors will grow as more firms chase the Muslim pound. “More and more consumers are looking for healthier options, and they want to know where their food is coming from. It’s not enough to just know it’s halal,” Jahangir told Eastern Eye. “More mainstream brands are entering the market as they are seeing a demand in consumers. “According to a report we carried out this year, 95 per cent of respondents said they are more likely to shop somewhere if they did a special Ramadan offer. This is something mainstream brands are no longer able to ignore.” Ramadan will see Britain’s four million Muslim community, including boxer Amir Khan and Liverpool footballer Mohamed Salah, go without food or drink for around 15 hours a day. A study by Islamic marketing consultancy Ogilvy Noor found that more than 75 per cent of…
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