Bangladeshi exporters are optimistic about a surge in clothing orders at the onset of the second quarter of 2024, buoyed by the successful clearance of winter inventories by global retail shops.
This positive outlook is attributed to a series of festive occasions and a notable easing of inflation in Western markets.
Following a chilly winter for the apparel industry, a brighter summer outlook is anticipated.
Industry insiders revealed that major export destinations like the USA and the UK witnessed a sales boost in retail outlets during November and December.
This uptick is credited to various festive events, including Black Friday, Cyber Monday, Christmas, and Boxing Day.
Meanwhile, data from the US Census Bureau underscores this trend, indicating a consistent upward trajectory in monthly apparel store sales over the past year even as sales rose from US $ 13.7 billion in January 2023 to US $ 21.8 billion in November. In December of the same year, monthly apparel store sales in the US were estimated at US $ 29 billion, marking a 9 per cent increase from December 2022.
Meanwhile, retail clothing sales in the UK market also witnessed an increase.
Data from the Office of National Statistics, the executive office of the UK Statistics Authority, reveals an upward trend in monthly retail sales for apparel throughout 2023, although the market experienced a slight downturn in the last quarter.
