As Eid-ul-Azha draws near, Dhaka’s merchants are observing a sharp difference from the hectic Eid season of the previous year, when sales were booming and store owners were finding it difficult to manage the surge.
However, because of this year’s abnormally high inflation and people’s declining spending power, sales have drastically decreased.
Many people find it difficult to make ends meet, much less afford purchases. Consequently, there’s not much excitement for Eid buying. Stores stay mostly empty, which causes a sharp decline in sales.
Traders said that sales were between 50 per cent and 80 per cent lower than the previous Eid.
For shopkeepers, this downturn means more than just a lack of profit. It has become extremely difficult to cover the costs of employee salaries, rent, electricity bills and other expenses. Many are now facing substantial losses.
Aarong is a well-known apparel and other item brand in the country. A visit to the Aarong branch in Moghbazar reveals that the branch has not experienced the usual Eid rush, with few customers despite the abundance of new clothing options available for the holiday. This trend is also evident in other markets, such as New Market, Elephant Road, and Mouchak Market.
