• Login
  • Register
BizData Insights
  • About
  • Market Insight
    • Financial
      • Bank
      • NBFI
      • Insurance
      • Fintech
    • Consumer & Retail
      • FMCG
      • Commodity
      • Retail
      • Electronics
      • Mobile
      • Healthcare
    • ICT & Telecom
      • Telecom
      • Technology
      • Start-Up
      • Media
    • Energy & Power
      • Power
      • Alternative Energy
      • LPG & LNG
    • Housing & Building Materials
      • Cement
      • Steel
      • Paint
      • Ceramics
      • Cables & Lighting
    • Lifestyle & Fashion
      • Furniture
      • Footwear
      • Lifestyle
      • Homecare
    • Agriculture & Livestock
      • Agro
      • Fisheries
      • Poultry & Livestock
    • Healthcare & Pharma
      • Pharmaceuticals
      • Health Service
      • Health Tech
    • Automotive & Logistics
      • Automotive
      • Aviation
      • Logistics & shipping
    • Chemical & Engineering
      • Paint & Chemical
      • Engineering
      • Heavy Industry
    • RMG & Textile
    • NGO & Development
      • NGO
        • SDG
          • Skill
          • Migration
          • Climate
          • Gender
          • Urban
    • Leisure
      • Hotel
      • Tourism
    • Development
  • Economic Insight
    • Forex & Remittance
    • Inflation
    • VAT & Tax
    • Stock Market
    • SME
    • Govt.
    • Global Report
    • GDP
    • Investment
    • Trade
  • Data Terminal
    • Business Dashboard
    • Economic Dashboard
    • Industry Dashboard
    • Startup Dashboard
  • Technology
  • Business Advisory
No Result
View All Result
BizData Insights
No Result
View All Result

Bumper Eid for clothing retailers

by BIZDATA INSIGHTS
June 3, 2019
in Consumer & Retail
0
Bumper Eid for clothing retailers

Published at: The Daily Star, Jun 03, 2019

Clothing retailers had a good run this Eid-ul-Fitr thanks to soaring demand from urbanites in keeping with their improved purchasing power.

YOU MAY ALSO LIKE

Pran Dairy inks agreement with ACDI/VOCA for dairy development

Rising fuel prices raises the cost of practically all household necessities

“We are seeing a good crowd. People are buying,” said Md Helal Uddin, president of the Bangladesh Shop Owners Association, adding that the sales this Eid will be at least 10 percent higher than the last.

Eid-ul-Fitr is the biggest religious festival of Muslims, which make up the majority of Bangladesh’s population. Subsequently, it is the peak shopping season in the country, typically accounting for nearly one-third the total annual wholesale and retail trade, said traders.

Helal said they expect that overall sales from shops would be Tk 25,000 crore to Tk 30,000 crore this year.

“The growing popularity of e-commerce is affecting us.  Plus, a section of the affluent people are also shopping abroad.”

But still, the overall buying mood remains positive, he added.

“The stable political climate this year has been instrumental in boosting buying sentiment,” said Shaheen Ahmmed, president of the Fashion Entrepreneurs Association of Bangladesh (FEAB).

Since the Eid would be celebrated right in the middle of summer, sales of cotton clothes are expected to be higher.  Azharul Haque Azad, former president of the FEAB, expects local fashion stores to log in about Tk 3,800 crore in sales this Eid, up from Tk 3,500 crore last year.

“This is a better season compared to the last couple of years,” he said.

Apart from clothing, footwear makers, electronics retailers and above all e-commerce stores are experiencing soaring demand.

Sales of televisions and refrigerators shot up during the month of Ramadan that crescendos into Eid-ul-Fitr, said Nahid Hasan, marketing manager of Transcom Digital, one of the leading electronics retailers.

“It appears electronics and furniture have become lifestyle items and many people buy them on the occasion of Eid,” he said, adding that big screen and 4K ultra-high-definition televisions are in particular demand this year.

Urbanites, remittance and labour income from soaring exports earning appear to be driving the Eid expenditure this year, said Zahid Hussain, lead economist of the World Bank’s Dhaka office.

But the collapsing prices of paddy are likely to be depressing the buying mood of farmers, especially the small and marginal ones, he added.

The price of rice depending on the quality fell between 6 percent and 13 percent in the Dhaka city markets over the last one month, according to the state-run Trading Corporation of Bangladesh.

Agriculture is the main livelihood of 45 percent of the workforce and farmers are based in rural areas, home to more than 70 percent of the total population.

The World Bank in 2014 estimated that retail trade in Bangladesh’s domestic market during the last two Eid festivals reached a staggering $12 billion. 

The size of the economy (as measured by total gross national income) has grown by more than 55 percent between 2014 and 2018. 

If Eid spending grows at the same pace, it can be estimated to reach nearly $19 billion this year, Hussain added. Remittance inflows and export receipts have been on the upward trend in the first ten months of the fiscal year.

Between July last year and April this year, $13.30 billion flew in as remittance and $33.93 billion as export earnings.

Disclaimer: The original publisher, as mentioned above, holds the responsibility for the content. However, the content and image of the original news might be modified due to suitability of that current site. 

BIZDATA INSIGHTS
Author: BIZDATA INSIGHTS

Tags: Eid salesEid Shopping
Share61Share11Pin14SendShareSend

Recent News

Maritime ports requested to raise cautionary signal 3

Depression develops over North Bay as a result of low pressure

August 14, 2022
In four decades, Port City lost 120 hills

In four decades, Port City lost 120 hills

August 14, 2022
Business tie between Bangladesh and the US is stronger than ever

Employers in US unable to find enough employees

August 14, 2022
PM urges for more entrepreneurs

PM recognises public’s struggles for fuel cost increase

August 14, 2022
Bangladesh to benefit from UN’s CISG

Bachelet expressed no concern about Bangladesh situation: Anisul

August 14, 2022
Surge in fuel price to affect everything

Fuel costs to be revised soon: Nasrul

August 14, 2022
Countrywide load-shedding increases due to gas shortage in power plants

Dhaka residents to face 3-hour power outages on Sunday

August 14, 2022
Facilities after LDC graduation: Updated proposal will be submitted to WTO

Facilities after LDC graduation: Updated proposal will be submitted to WTO

August 14, 2022
Loading

BIZDATAINSIGHTS

BIZDATAINIGHTS is Market Insights, Data Intelligence and Business Advisory Platform

BIZDATAINIGHTS is Market Insights, Data Intelligence
and Business Advisory Platform

Menu

  • About
  • Market Insight
  • Economic Insight
  • Data Terminal
  • Business Advisory
  • Technology

Contact Us

[email protected]
House:26, Block:L, Road:2, Banani Dhaka
Facebook-f Linkedin Youtube Twitter Github

© 2021 Bizdata Insights. Built on AWS

No Result
View All Result
  • About
  • Market Insight
    • Financial
      • Bank
      • NBFI
      • Insurance
      • Fintech
    • Consumer & Retail
      • FMCG
      • Commodity
      • Retail
      • Electronics
      • Mobile
      • Healthcare
    • ICT & Telecom
      • Telecom
      • Technology
      • Start-Up
      • Media
    • Energy & Power
      • Power
      • Alternative Energy
      • LPG & LNG
    • Housing & Building Materials
      • Cement
      • Steel
      • Paint
      • Ceramics
      • Cables & Lighting
    • Lifestyle & Fashion
      • Furniture
      • Footwear
      • Lifestyle
      • Homecare
    • Agriculture & Livestock
      • Agro
      • Fisheries
      • Poultry & Livestock
    • Healthcare & Pharma
      • Pharmaceuticals
      • Health Service
      • Health Tech
    • Automotive & Logistics
      • Automotive
      • Aviation
      • Logistics & shipping
    • Chemical & Engineering
      • Paint & Chemical
      • Engineering
      • Heavy Industry
    • RMG & Textile
    • NGO & Development
      • NGO
    • Leisure
      • Hotel
      • Tourism
    • Development
  • Economic Insight
    • Forex & Remittance
    • Inflation
    • VAT & Tax
    • Stock Market
    • SME
    • Govt.
    • Global Report
    • GDP
    • Investment
    • Trade
  • Data Terminal
    • Business Dashboard
    • Economic Dashboard
    • Industry Dashboard
    • Startup Dashboard
  • Technology
  • Business Advisory

© 2021 Bizdata Insights. Built on AWS

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?