Sales of refrigerators and chest freezers in Bangladesh declined by 13% ahead of Eid-ul-Azha due to persistent inflation and increased appliance prices. Non-food inflation remained above 9% since January, impacting consumer spending. Typically, demand for these appliances rises by up to 60% before the festival, but this year, sales dropped to around 7 lakh units from the usual 8 lakh. Eid-ul-Azha usually accounts for 30% of annual refrigerator and freezer sales, but this year it may only contribute a quarter. Sales for units over Tk 50,000 and chest freezers above 300 litres are particularly low. While some companies saw slight growth or stable sales in lower-end products, the overall market was significantly affected by inflation and rising costs. The dollar’s 35% gain against the taka in the past two years and increased VAT on refrigerators contributed to higher prices. Some improvement in last-minute sales was noted due to anticipated price hikes in July, but the overall outlook remains pessimistic unless inflation is curbed.
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