Amidst rising prices and economic challenges in Bangladesh, the sale of various electronic and electrical appliances, including refrigerators and televisions, has notably declined. This decline is not confined to the domestic market; it extends to imports as well.
Walton reported a substantial drop in sales for refrigerators, freezers, and compressors, amounting to approximately 1,300 crore Bangladeshi Taka (about 152 million USD) or nearly 23%. Television sales also witnessed a significant decrease of 2,070 crore Bangladeshi Taka (about 242 million USD). Moreover, TV export has dropped by 91%.
The primary factors contributing to this drop in sales include rising product prices and reduced purchasing power among consumers due to inflation. Global economic challenges, including currency exchange rate fluctuations, have also raised import costs. The average temperature in Bangladesh in April reached 33.2 degrees Celsius, 1 to 6 degrees Celsius higher than normal, leading to increased AC demand.
The decline in product imports and sales is affecting all the other companies as well. The decline in international market sales can be partly attributed to the Russia-Ukraine conflict, which disrupted imports and exports, impacting the industry’s dynamics.
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