The financial strength of Ramadan to the Swedish economy revealed.

Friday, 20 July 2012
The Swedish economy is reported to benefit economically impressively from the Muslims' period of Ramadan which starts today with a month of fasting. This year, it is expected that trade will grow up Skr1 billion mark in sales at grocery stores. For trader in Malmo, Southern Sweden, this is the most important festival after Christmas.

According to the Swedish Trade Federation, the total consumption during Ramadan in Sweden has been estimated to fall between to Skr1.3 to Skr1.6 billion. On average, food cost increases to some Skr1 700 per person.

For several years, the industry has been working hard to organization proactively to inform traders about holidays that are celebrated by Muslims in order to generate new customers and meeting consumer preferences.

This is because even though Sweden has increasing been a diverse place, many western leaning Swedish traditional shops have not fully recognized the power of their minorities population as a strong source of business.

Today the Swedish trade federation has now realised that this is an affluent group of customers, according to Meta Troell, intelligence analyst at the Swedish Trade Federation.
In the past year, we had written that Sweden is not yet realising the value of its minority group such as people from African and middle eastern origin.

In one past report, we wrote that Sweden could expand it cosmetic industry, which is part of its pharmaceuticals sector by understanding the need of the black African skin. In this situation, it could capture the growing market of the Africans in Sweden and then to grow into places such as the UK, France, African continent, the USA, Canada, Brazil and the a very large region of grow into.
By Scancomark.se Team

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