To maximise their annual revenues, Bangladeshi local fashion firms mostly rely on sales during festivals, particularly Eid-ul-Fitr. However, because of intense competition and options both inside and outside of the markets, many vendors are currently unable to reach their sales targets.
Owners’ opinions were divided; although some highlighted the difficulties in handling the pressures and uncertainties of the economy, others remained upbeat about their sales tactics and prospects for expansion.
For business owners, the results have been uneven despite high expectations for increasing profits due to issues including competition, rising costs, and altering consumer preferences. Some people are still upbeat about sales tactics, while others voice worries about handling financial constraints.
According to the Fashion Entrepreneurs Association of Bangladesh (FEAB), leading brands earn around 40 per cent of their profits from Eid-ul-Fitr alone. Lesser-known brands depend even more on festival sales, with Eid contributing 80 per cent to 90 per cent of their annual profits.
Shaheen Ahmmed, owner of Anjan’s, remarked that sales are not satisfactory. He shared with the local media that, “Our business is going well, but not as expected. There are many shops in the market now. Various exhibitions, fairs, shopping malls, showrooms and others have become popular all around.
“As a result, people now have many options. Many people are turning online again to find good things at low prices.”
“The price of everything has increased in the market. Everyone has different preferences. Some are buying Eid clothes, while others are buying Boishakhi clothes. Those who are a bit more cultured are buying both. But I think this year there will not be much formality in Boishakh.”
Additionally, the rising prices and differing consumer preferences contribute to the subdued sales, with some customers focusing on purchasing clothes for Eid-ul-Fitr, while others prioritise garments for Pohela Boishakh.
