Eidflation upsets shoppers amid buying pickup

Sudden summer rainstorm dampens weekend fest shopping


SAJIBUR RAHMAN and SM NAJMUS SAKIB | Published: April 23, 2022 08:44:37 | Updated: April 23, 2022 16:29:35


Shoppers use the elevators as they crowd the city’s Bashundhara shopping complex on Friday ahead of the Eid-ul-Fitr festival — FE photo

Fashion businesses, which had rued sale slump during the last two consecutive Eid festivals for the pandemic, now hope to recover the losses in a bold rebound.

They sounded upbeat Friday as a growing number of shoppers started thronging Dhaka's shopping malls at the weekend.

However, sudden rainfall with intense lightning flashes in the capital's skies obstructed the Eid-shopping binge on a limited scale on the day. Even, roadside businesses were largely affected.

Shoppers are seen mostly visiting shopping malls like Bashundhara Shopping Complex, Jamuna Future Park and Dhaka New Market ahead of this upcoming Eid-ul-Fitr.

The annual local fashion market size in the country is about Tk 300 billion and Eid sales account for 40 per cent of it, according to sources in business circles.

Nurul Islam, a sales manager at Richman Lubnan, a men's clothing store at Bashundhara City Shopping Complex, told the FE that the sale of different men's wears, like Panjabi, shirt, trousers, T-shirt, and jackets increased about 20-30 per cent compared to the covid-hit years.

He expects substantial sales this Eid as Bangladesh sees almost deathless days and few Covid cases nowadays as the pandemic dies down.

"Low-and middle-income people, who mainly shop on a large scale ahead of Eid, have cut down their budget this time around due to skyrocketing prices of daily necessaries alongside rising prices of clothes, cosmetics and shoes," he says.

Jamal Uddin, a salesman at Toha Fashion at Badruddoza Supermarket opposite Dhaka College, said customers were coming in good numbers this time compared to the years of Covid restrictions, and sales increased nearly 10- 20 per cent. Jamuna Future Park, an imposing mall, saw Friday swarms of shoppers as service-holders started getting festival bonus on the occasion of Muslim's biggest religious festival.

Samsuzzaman Bablu came to the Future Park, arguably the biggest shopping mall in South Asia and the 24th-biggest one in the world, along with his wife and two kids from the Bhulta of Narayanganj for Eid shopping for all eight of his family members.

"We can easily come to Jamuna shopping mall mainly because of improving road communications through the 300-foot road and the expressway," he told the FE.

"We usually come to Jamuna shopping mall as it has the largest shopping space in the country and can buy local-and foreign-brand products in a relaxing mood as there is no such rush as in other shopping malls in the city."

Jakaria Mitul, 33, a resident of Uttar Badda, visited the shopping complex last Wednesday with his wife and daughter-a bit earlier.

"My family will go to the village early to avoid traffic rush on the highways ahead of the Eid, so we come for Eid shopping in advance. I couldn't buy clothes for my family last year owing to the Covid pandemic," he said.

He was talking to the FE correspondents while standing in queue at the Aarong outlet in the Jamuna Shopping complex.

A deputy general manager for marketing at Brac Aarong, Tanvir Hossain, says their sales have risen over 50 per cent since the pandemic period.

Jamuna and Bashundhara shopping complexes are among the major sales points in Bangladesh's capital city, Dhaka, he notes, and says: "We have started exporting our local products to six more countries this year in a fresh move, which indicates the production and sale growth."

They sell about 35-40 per cent of their annual turnover during the Eid festival.

Md Sazzad Hossain, chief official of Apex Footwear at Jamuna Future Park, told the FE that their outlet at Jamuna, the second-largest sale point in the country, already had started witnessing a pool of shoppers since last week.

"Since Thursday, shoppers in an increasing number started coming for Eid shopping. We are satisfied with the sales this year, including ahead of Pahela Baishakh," he says about what comes as dividend from corona control.

"Shoppers this year are mostly visiting mega shopping malls in the city, instead of single shops, due to the hot summer weather. And, shopping complexes like Jamuna are among the most-visited malls because of its huge space, comfort shopping and presence of all leading local and foreign fashion brands."

Apex is offering 1500-plus new collections for this Eid, he adds.

Apart from the city people of Uttara and Bashundhara residential areas, visitors hail from surrounding districts, including Munshiganj, Narayanganj, Narsingdi and Tangail, and areas linked with the 300-foot boulevard, the company official mentioned.

Eid sale now sees a significant pickup compared that of the Covid-hit previous years, says Bangladesh Supermarket Owners' Association (BSOA) general secretary Zakir Hossain.

"Eid sales reach nearly 70-80 per cent than during the pandemic period. Customer presence at the major malls in and outside Dhaka are increasing. However, Eid sales could have reached the pre-pandemic level if the prices of essential commodities remained stable," he told the FE about the cascading impact of general inflation that feeds into Eidflation through price rises.

Mohammad Helal Uddin, president of Bangladesh Shop Owners Association and former vice-president of the Federation of Bangladesh Chambers of Commerce and Industry, finds customer turnout high this year and sounds upbeat about the prospect of recouping the business losses handed by the mortal virus.

"Eid business this year would even exceed the mark that was before the Covid time."

Eid sale tops mainly in Bashundhara City Shopping Mall, Jamuna Future Park and Dhaka New Market in the capital right now, he adds.

sajibur@gmail.com, nsrafsanju@gmail.com

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