United Brands Association (BMD) President Sinan Öncel stated that they estimate that a total of 450 billion liras of card spending will be made on the eve of Eid al-Adha and the four-day Eid al-Adha holiday, and said: “We expect 35 percent of the said spending, that is, approximately 160 billion liras, to be made on the eve of the Eid.” he said.
In his written statement, Oncel noted that they observed an increase in quantity and turnover in categories such as markets, clothing, fuel and food, as well as gifts during religious holidays.
Stating that shopping is above average, especially on the eve of the holiday, Öncel stated that there is a lower level of shopping volume on holidays.
Öncel noted that, according to the latest data of the Interbank Card Center (BKM), approximately 35 percent of the total card spending during the Eid al-Adha period took place on the eve, and on the first day, this rate dropped to 12 percent, and made the following evaluation:
“This year, we estimate that a total of 450 billion liras of card spending will be made during the Eid al-Adha and the four-day Eid al-Adha holiday. We expect 35 percent of this spending, that is, approximately 160 billion liras, to be made on the eve of Eid al-Adha. At least 20 percent of the total card spending on Eid al-Adha is for grocery shopping. Clothing, fuel and food categories also receive a share of approximately 10 percent of the expenditures during the Eid period. “The category accounts for more than half of the total card shopping during the holiday periods.”
