The recent political unrest in Dhaka, Bangladesh, has had a significant impact on businesses in the city. Since Sheikh Hasina resigned from her post as prime minister on August 5 amid an uprising, sales in retail stores and brand shops have plummeted. The situation has left many business owners worried about the future and the time it will take for sales to return to normalcy.
Following the reopening of stores and malls on August 7 after a month of unrest in the country, popular shopping centers like New Market in Dhaka have taken on a deserted look. The lack of customers has resulted in a decline in sales ranging from 50 percent to as high as 80 percent. This drastic drop in sales has left many business owners concerned about the financial stability of their establishments.
One such example is the popular lifestyle brand Apex, which reopened its outlet in Mirpur 1 on August 7. Despite reopening, the manager of the showroom, Mohammad Monirul Islam, reported that sales are still nearly 30 percent lower than usual. The fear and panic among buyers have led to a decrease in foot traffic, with many customers refraining from visiting stores altogether.
The situation is not unique to Apex, as other retailers in the area have also experienced a significant decrease in sales. Sari retailer Rasel Ahmed mentioned that only 30 percent of their regular customers are visiting the market, and it may take over two weeks for sales to pick up. Similarly, the retail clothing brand Miclo has seen an average customer turnout of only 20 percent since reopening, with buyers still hesitant due to lingering fears.
The return of the police force to the area is expected to ease the situation and instill confidence in buyers once again. However, until then, businesses are struggling to make ends meet. Sales manager Mohammad Akash of retail clothing brand Giordano reported a drastic 90 percent fall in sales since reopening, while baby cloth and toy retailer Shafiqur Rahman noted a 50 percent drop in customer numbers.
Despite the challenges faced by businesses in Dhaka, there is hope for improvement in the coming weeks. Helal Uddin, president of the Bangladesh Shop Owners‘ Association, expressed optimism that the situation would improve from the next week. As businesses navigate through these uncertain times, they are hopeful for a return to normalcy and a revival of sales in the near future.