For apparel retailers, for whom Eid sales account for around half of annual sales, this Eid failed to evoke the expected response as sales overall volume reportedly did not meet expectations. Reports claimed this citing the industry players.
Meanwhile, interacting with the media, the Chief Executive Officer (CEO) of Rang Bangladesh Soumik Das reportedly maintained sales in the month prior to Eid were down 10 per cent year-on-year, which he principally attributed to the overall increase in the cost of living that had taken a toll on the middle class.
Underlining that both investments and preparation were high this time around, Co-Founder of fashionwear retailer Kay Kraft, Khalid Mahmood Khan blamed the record-breaking heat wave for the dip in sales during the daytime even as he reportedly underlined Kay Kraft’s sales one and a half to the run-up to Eid was up around 10 per cent year-on-year.
It may be mentioned here Bangladesh had to deal with heat waves this summer even as on 15th April, the temperature in the capital Dhaka reached a 58-year high of 40.4 degrees Celsius while on the other hand in March, consumer prices jumped to a seven-month high of 9.33 per cent following 8.78 per cent in February.
