The Eid market is in full swing with record transactions with trade already surpassing the target in the top 10 products such as clothing, footwear, consumer goods and electronics.
The country's economy had a much-needed boost after a two-year hiatus due to the pandemic, thanks to consumers flocking to markets for Eid shopping.
Talking to Dhaka Tribune, Md Helal Uddin, president of Bangladesh Dokan Malik Samity said that they targeted trade worth around Tk150,000 crore during this Eid.
“Already that target has surpassed and sales will increase further in the last two days before Eid,” he added.
According to market insiders, a middle-class family spends a minimum of Tk10,000-Tk15,000 for Eid shopping and this figure increases according to their capacity.
FBCCI set a target for Eid trade in the garments and clothing sector worth Tk60,000-Tk70,000 crore, which also has already been surpassed.
Moreover, the traders said that they have sold shoes worth about Tk3,000 crore during this time. Around one-third of the total sales in the country’s shoe market take place during Eid-ul-Fitr every year.
However, FBCCI set a target for the Eid trade on footwear at Tk3,500 crore and also set a target for the commodity market at Tk27,000 crore.
For the zakat-fitra and charity purposes, Tk67,000 crore will be spent, Tk5,000 crore for gold, diamond, and Tk4,500 crore will be spent for travel and entertainment.
According to the market insiders, traders could not conduct the Eid related trade in the last two years due to the Covid induced lockdown and strict restrictions.
But the spread of Covid-19 has been declining since the middle of the last year thanks to widespread mass vaccination campaigns has accelerated the markets of the country to return to normalcy.
Since the beginning of this year, the economy has been recovering from the pandemic and the traders got the opportunity to fully prepare for the Eid sales, said the market insiders.
The economy, which had stumbled due to the pandemic, has regained momentum riding on record purchases, said both the shoppers and the traders.
While visiting the Bashundhara Shopping Complex of the capital on Friday, a large crowd of shoppers could be seen, for the first time since the pandemic.
“We are struggling to serve the overwhelming number of customers. But it is good that after two years there are so many sales,” a salesman at a clothing store added.
“As soon as we put the new product on display, it is sold out,” he added.
According to the market insiders, along with the hike in sales of clothing and shoes, the sales of food items such as shemai, sugar, meat, sweets, groceries, cosmetics, electronics, mobiles and other products are also on a hike this Eid.
