‘When will our cash registers begin ringing again?’

Business
‘When will our cash registers begin ringing again?’
Sales at retail attire stores in the administrative centre are growing ahead of Eid, albeit at a good snail's pace.

Last Eid-ul-Fitr, persons avoided shopping centres.

"But this time, persons are appearing out of their properties but the sales aren't that much," said Soumik Das, chief executive officer of Rang Bangladesh.

The brand has 24 stores in the big cities.

"Sometimes, we witness an excellent day with skyrocketing revenue. But the following day it plunges to very cheap and that's frustrating. Maybe this is referred to as the 'new ordinary'," he said.

He blames people's financial hardship for the depressing revenue.

"Many persons are sitting in the home after losing their careers due to the pandemic. How will they get clothes?" said Das.

Because the sales usually pick up within the last week before Eid-ul-Azha, the real picture is yet to be ascertained. However, he will be happy if he could make even half of last year's Eid sales.

"Our business is great if you consider we happen to be in the middle of a pandemic," said Mohammad Ashraful Alam, ceo of leading lifestyle company Aarong.

He projected that their sales in Eid-ul-Azha would be 62 % to 65 % of what it had been during previous year's festival.

The brand's e-commerce segment is estimated to witness a sales rise of 250 per cent month-on-month in July.

The amount of customers has increased in recent weeks as the stores have been permitted to remain open for longer time, he said.

To make sure social distancing, the manufacturer is now allowing a restricted number of buyers to enter its shops based on capacity.

"There are about 65,000 artisans who make our items. They might be left without profit if Aarong cannot generate sales. Also in the pandemic, we gone ahead with this store opening plan to preserve their livelihoods," Alam explained.

On 25 July, Aarong opened a fresh 7,800 square feet store in Jessore, taking the full total quantity of outlets of the brand to 21, in a testament to its strong position despite the pandemic.

Khalid Mahmood Khan, the co-founder of Kay Kraft and YOUNGKAY, is hopeful of good times making a comeback.

"Restrictions have been recently relaxed more so persons are now venturing out after dusk and coming to stores. Despite the fact that sales are not that which was expected, this modification in people is presenting us a ray of light to the dark hour of the business."

However, there will be no quick restoration from the damage the virus brought on to their business.

"Buyers need peace of mind at first and then they will think of splurging," Khan said.

To lure on customers to Kay Kraft and YOUNGKAY's 24 stores, the brands are providing a flat 20 % discount on all products.

Many others are offering discounts just as much as 80 %, all to attract buyers and vacate warehouses.

But it all appears to be in vain.

According to sector insiders, the majority of the brands let go many staff and halved salaries in a desperate attempt to survive.

It's the same scenario at Banarasi Palli found in Mirpur.

Spreading from Mirpur 10 to 11 and casing about 130 outlets, the Mecca of saree enthusiasts includes a heritage tracing back again to India's 1947 partition.

"Sales is indeed low that a lot of stores can't fork out the salaries of their workers, and some can't even give their electric bills," said Md Ziaul Haque, one of the owners of Benarashi Big Bazaar.

This past year, they sold about 50 sarees each day centring Eid, which includes now nosedived to around sole 10.

"The situation was even worse previous month when several sarees could possibly be sold every day," he added.

The weavers of that area possess not received any government support yet, according to shop owners.

Store owner Kazi Kaiser thought to have closed down a few months ago to open a good grocery.

Md Sayeed, the owner of Munni Benarashi, says he was selling a couple of sarees a day.

"The majority of my handloom artisans remaining the profession through the pandemic. They are actually getting involved with other businesses or activities to survive," he said. 
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