Eid sales may cross Tk 1.0 trillion-mark

Aggregate sales on the occasion of holy Eid-ul-Fitr this year may run into more than taka one trillion, business circles have claimed.   
All kinds of traders and businesses -- wholesale and retail -- have been doing a brisk business in a very enthusiastic mood because of no disruptions, they said. 
They are reaping a sort of dividend out of current trouble-free time in the country's usually fractious politics. A stable economic situation has also helped the demand to rise at the consumers' end.
And it happens to be one of the biggest profit-making seasons for the businesses.
"Eid-ul-Fitr is a big opportunity for trading and traders as we have been doing more than 50 per cent out of the total annual business in Ramadan alone," said SA Quader Keron, president of Bangladesh Dokan Malik Samity (BDMS), the association of the shop owners in the country.
He told The Financial Express that the business community had sold various types of Eid-festival products estimated at over Tk 1.0 trillion so far during the last one month of Ramadan, reflecting a 75-80 percent growth compared with the previous occasion.
Mr Keron said, "Sales dropped to just Tk 650-700 billion in the 2013 Eid-ul-Fitr, which was 40 per cent less compared to that of 2012."
They are expecting the sales to cross Tk 1.2 trillion (1000 billion=1 trillion).
In the Eid festival country's trade and business are doing ever so well as daily turnover was nearly Tk 55 billion to Tk 60 billion, he added.
According to the BDMS, during the last one month, readymade garments (RMG), clothing and fabric, cosmetics and toiletries, transportation, perfumes, footwear, jewelries and foodstuffs are the major business items in Eid festival.
With other products, including home appliances, electrical and electronics, furniture also have been on high demand ahead of the Eid festival.
Now the shoppers are swarming the city malls for last-minute buy. All across the country are now waiting to celebrate the biggest religious festival at the end of this week.
The BDMS data showed there are some 2.5 million shops, including 350 large shopping malls in the city. During the last one month, all the shopkeepers were very busy dealing directly or indirectly with the festival customers.
There is no sound or organized survey or data on the turnover of business in the Eid-festival period. But every year BDMS has conducted a survey on the total business surrounding Eid-ul-Fitr.
According to businessmen, this year more than Tk 900 billion turnover was with apparel products as each household spends more than 75 per cent on buying new dresses.
Faruque Hassan, Managing Director of Texmart Fashion Ltd (sister concern of Giant Group), one of the leading local fashion brands, said with Eid festival their business increased more than 250 per cent compared with normal time.
He said due to stable political environment this year their business has been satisfactory.
Assadur Rahaman, shop manager of Talukdar cloth store at Shah Ali plaza at Mirpur-10, said they are selling shirts and Panjabis and business at their showroom increased significantly in last one month compared to last Eid-ul-Fitr occasion.
Nurun Nahar, proprietor of Nahar Boutiques located at Anika Plaza at Shawrapara, said usually she fixed a target to sell over 60 per cent of products during the Eid festival.
She says the sale at her Boutique house has increased nearly 70 per cent in the last two weeks of Ramadan compared to other days.