With the countdown to the FIFA World Cup 2022 in Qatar clicking closer to zero, excitement over football's showpiece event is growing in Bangladesh. Typically, there's a surge in television sales ahead of the tournament and retailers are once again looking to capitalise on the excitement of football enthusiasts by offering a raft of discounts and freebies.
However, sales are falling short of expectations this time. The looming threat of an economic crisis, triggered by the coronavirus pandemic and the Ukraine war, is tempering the enthusiasm of consumers amid soaring living costs, according to vendors.
"People have less money to spare and so, TV sales are comparatively low ahead of this year's World Cup," said Mizanur Rahman, manager of electronics chain Best Electronics' Motijheel branch.
And how much lower are the sales this time compared to the 2018 World Cup in Russia? At least 20 per cent lower, according to Tanveer Mahmood Shuvo, TV product manager of Walton.
“It's true that sales have dropped. But we didn't expect it to fall off as much as it has."
Various shops in the Stadium Market, Moghbazar, Mirpur and Gulshan are offering 15 per cent to 45 per cent discounts on products of local and foreign brands such as Singer, LG, Walton, Transtec, Minister, Panasonic, Konka, Haiko, Samsung, Haier, Jamuna and Vista ahead of the World Cup.
TV sales tend to pick up slightly during the Eid holiday season and peak ahead of major sporting events. The expectations before the Qatar World Cup were no different, reports bdnews24.com.
Addressing the current state of the market, Rashedul Islam, manager of Walton's Mirpur-1 outlet, said, "World Cups set off a frenzy of TV purchases. There are also several discounts available. Our outlet is selling five to six TVs a day. But it's lower than the previous World Cup season.”
Mehdi Hassan, manager of Sony's Bashundhara outlet, reflected on the gap between expectations and reality in relation to TV sales. The usual hubbub of customers queuing up at stores during World Cups was missing, he said.
Al Amin, an employee of Shan Electronics, said sales were 'very low' this time. “Sales are lower than usual as the cost of living has gone up. Buying TVs during the World Cup is now a luxury for most."
Mehdi Hasan Hridoy, a private sector employee, was waiting at a TV repair shop in Mirpur-19. He also spoke of unfulfilled hopes.
With a tinge of lament, he said, "The World Cup is on the horizon and watching the games is a must. I thought I would buy a new television but my financial situation won't allow it. So I came to fix my old TV."
LARGE-SCREEN TELEVISIONS IN DEMAND
Despite the lacklustre sales, most customers have been eyeing smart and large display TVs, according to traders.
At the Sony Rangs outlet in Mirpur's Rokeya Sarani, Hasnat and his wife Shelly said they had long been hoping to buy a large-screen TV and were keen to take advantage of the hefty discounts on offer during the World Cup.
“The economic crisis hasn't impacted the sales of smart and large display TVs of foreign brands as much this year. There are also several discounts available and many people are contacting us to get them,” said Md Rakib, corporate branch officer of Icon Electronics.
Walton's TV Product Manager Tanveer echoed Rakib. “Sales of 21, 29 and 32-inch televisions have decreased. But interestingly, there is a growing demand for smart and large display televisions.”
Depending on the brand, basic TVs between 19-32 inches are being sold for Tk 7,800 to Tk 17,500. On the other hand, the price of smart televisions, starting at 32 inches, is around Tk 18,600 and may go up all the way to Tk 520,000, subject to their features and display sizes.
