Fast-food chains starved for customers during Ramadan

[email protected] (Arab News)
June 4, 2017

Jeddah, Jun 4: Let's face it. Saudis love their fast food. McDonald's, Hardee's and KFC are all wildly successful in the Middle East market, but are American fast food chains compatible with the very Middle Eastern rituals of Ramadan?ff

Not so much. For reasons only Arabs can explain, American fast food is not a good fit when it comes to traditional Middle Eastern food during Ramadan and other cultural and religious rituals.

Fast-food chains entice observers of the fast during the holy month of Ramadan with lower prices and all-you-can-eat offers. But is that enough to replace home-cooked meals with fried chicken and pizza?

Fast-food chains provide instant gratification for families on the go, and especially commuters on the way home from work as they try to get their takeaway before the restaurants close for prayer. But during Ramadan it is a far different story. Families breaking fast at sunset prefer home-cooked meals at home and reserve eating out for special occasions.

Ramadan is celebrated annually by Muslims who fast for about 30 days as the fourth pillar of Islam. Muslims refrain from eating, drinking beverages and smoking from sunrise — at Fajr prayer — until sunset when they break the fast for iftar.

Naif Al-Jabally, a supervisor for one of the McDonald's restaurants in Jeddah, told Arab News that fast-food chains take a huge hit in food sales during Ramadan. Nearly every restaurant in the Kingdom is closed until after Asr prayer around 4 p.m.

Most fast food chains attempt to attract customers during Ramadan by offering special meals that include dates and with affordable prices as they remain closed during the day and open only in the evening.

McDonald's, which has a delivery service year-round, offers deliveries during Ramadan from 9 p.m. to dawn. Yet marketing fast food during the holy month does not always work.

“There are way more customers during normal days (the rest of the year) than during Ramadan,” Al-Jabally said. “During Ramadan, we open at 5:30 p.m.”

And when customers do order a Ramadan meal, it is usually from the regular menu.

“There is no noticeable demand for the Ramadan meal,” Al-Jabally said.

Maha Nasir, 45, told Arab News that she likes to enjoy iftar outside the home, but at a restaurant that serves quality food. “We love to have iftar outside with the family once a week,” she said. “We like to go to the open buffet of any restaurant.”

Al-Baik, a Saudi favorite with a reputation for attracting crowds of patrons, also struggles during Ramadan.

“Customers are usually much more in number during the year than in Ramadan,” said a cashier at a Jeddah Al-Baik branch, who noted that the number of customers drop by nearly half during Ramadan.

In fact, Al-Baik makes no attempt to market Ramadan meals to its customers, preferring to stand by its main menu of roasted chicken and deep-fried shrimp.

Al-Tazaj jumps on the Ramadan bandwagon with a SR6 meal that includes dates, Laban, sambosa, soup, water, green salad and Arabic coffee.

Pizza Hut has a special Ramadan Box offer for SR89 that throws in sambosa with its regular pizza selections.

Restaurant operators, however, generally recognize that a fast-food meal defeats the purpose of iftar, which should be a light meal with perhaps something heavier later in the evening.

Maha Nasir makes it a point to avoid all fast-food establishments.

“My kids and I avoid fast-food during Ramadan as the meal because it will be full of fat and that is not good for our stomach. Iftar should be healthy. It can be grilled and contains salad or soup.”

For most families, Ramadan means home, family, fresh and home-cooked food.

Nora Al-Sabea, 29, and the mother of five, told Arab News that it is all about being at home.

“I don't prefer iftar outside unless there is a family gathering,” she said.

But then, like every parent who is outnumbered by the children, they sometimes cave in to pressure.

“I prefer the food I cook myself. No way will there be fast-food unless the kids are insisting.”

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Agencies
July 28,2020

Dubai, Jul 28: Abu Dhabi Commercial Bank (ADCB) (ADCB.AD) is letting go hundreds of employees, sources said, the latest in a round of lay-offs by regional banks as pressure mounts to cut costs amid lower oil prices and the coronavirus crisis.

The UAE’s third-biggest lender is laying off 400 employees, two sources familiar with the matter said, after it had committed to not cutting staff because of the crisis.

In a statement, a spokesman said ADCB had pursued efficiency over the last decade by managing out its lowest underachievers after regular reviews, while ensuring talent was deployed in high-growth areas, such as digital banking.

“A certain number of redundancies are therefore expected every year in the normal course of business,” the bank spokesman added.

The sources said the cuts would involve ADCB’s consumer business and several in top management were among those being let go. One source said the bank was looking to close 20 branches.

In March, ADCB had declared, “No employee will be made redundant during 2020 as a result of the COVID-19 pandemic.”

UAE banks have been hit by government measures to rein in the spread of the virus, forcing many businesses to shut temporarily.

Last week, Dubai’s largest bank, Emirates NBD, reported a slump of 58% in profits. In June, sources told Reuters the bank started a new round of hundreds of lay-offs.

In May, ADCB reported a fall of 84% in first-quarter net profit as it took impairments of $292 million on debt exposure to troubled hospital operator NMC Health and payments group Finablr.

It was a major lender, with an exposure of about $981 million, to NMC Health, which went into administration this year after months of turmoil following questions over financial reporting.

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Agencies
May 25,2020

Abu Dhabi, May 25: Dusty weather to persist in the UAE on Monday as well with a chance of rainfall in parts of the country, the national Met department reported.

According to the NCM, the weather today will be fair to partly cloudy, with a chance of some convective clouds formation by afternoon - eastward and northward - extending to some internal areas that may be associated with some rainfall.

The weather will get humid by night and Tuesday morning over some coastal areas.

NCM predicts a wet Eid break.

Sharjah Police issued a weather warning as heavy rain flooded roads in Sharjah's Kalba among other areas.

Moderate to fresh winds will gain strength during the day causing blowing dust and sand.

The sea will be slight to moderate in the Arabian Gulf and in Oman Sea.

Earlier on Sunday, a weather alert was issued by authorities as moderate to heavy rain - accompanied with hail - lashed parts of the UAE. A rainbow in Dubai skies cheered up residents, celebrating a unique Eid this year amid the coronavirus Covid-19 pandemic - by mostly staying home.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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