The city of Dhaka awakens to the spirit of Eid, as its streets come alive with the dazzling glow of shopfronts, the rhythmic chatter of eager shoppers and the festive anticipation that grips the nation.
An estimated Tk 2 lakh crore in sales is projected across various sectors this time, solidifying Eid’s status as an economic juggernaut, according to Bangladesh Dokan Malik Samity (BDMS).
The economic pulse of Bangladesh quickens, as the nation dives into its largest retail season, fuelled by a surge of remittances and generous Eid bonuses.
Shopping malls, fashion boutiques and makeshift street stalls come alive as consumers flood the markets, seeking the perfect attire, the finest jewellery, and the most delectable sweets to adorn their Eid celebrations.
Traders, their faces alight with anticipation, report a spectacular 30 to 50 per cent surge in sales, painting an economic picture as dazzling as the fairy lights that adorn shop-fronts.
“Eid is not just a festival; it is a grand celebration of commerce and culture,” said BDMS President Helal Uddin. “From clothes to shoes, from groceries to luxury items, every corner of the market witnesses a flourish. The sheer enthusiasm of shoppers is infectious.”
On the bustling avenues of Gulistan, Baitul Mukarram, New Market, Gausia, Mouchak, and Bashundhara City, an unceasing tide of buyers’ ebbs and flows, their excited chatter merging with the rhythmic calls of vendors.
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The glow of shop windows reflects in the eager eyes of families selecting their Eid ensembles. Beyond the heart of Dhaka, shopping fervour spills into Paltan, Shantinagar, Motijheel, Uttara and Mirpur, where dazzling displays lure in countless customers.
While no official records quantify Eid sales, traders and economists unanimously agree that this festival eclipses all others in consumer spending.
The ripples of this economic surge reach deep into both urban and rural landscapes, spinning a web of employment opportunities and financial prosperity.
In the world of fashion and footwear, the numbers tell an enchanting tale. Bangladesh sells approximately 180 million pairs of shoes annually, with the local market valued at Tk 6,000 crore.
A staggering 30 per cent of this is sold in the lead-up to Eid, amounting to nearly Tk 2,000 crore in footwear alone. Cosmetics and jewellery also experience a meteoric rise in demand, as brides-to-be and festive revelers secure their adornments for the season of splendour.
Vice-President of the Bangladesh Jewellers’ Association (Bajus) Joynal Abedin Khokon describes this time as a golden period, “Eid ushers in a tide of weddings and festivities. Our orders peak as families prepare for grand celebrations stretching until Eid-ul-Adha.”
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Bangladesh Bank records over 24.25 lakh businesses engaged in economic activities, all of which experience a marked boost during Eid. Even industries beyond traditional retail flourish. The automobile sector, for instance, shifts gears into high demand.
According to the Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida), around 20 per cent of annual car sales take place around Eid, as Ramadan triggers a surge in bookings.
Gastronomy, too, is an integral part of the Eid economy. Vermicelli (semai), an essential Eid delicacy, sees a staggering consumption of 10 million kilogrammes during this time. Beyond Bangladesh’s borders, semai finds its way to 40 countries, its delicate strands binding together cultures and celebrations.
“A significant portion of our semai exports revolve around Eid,” says Debashish Singh, Head of Business at Danish Food. “Seventy per cent of our yearly exports are centred around this festival, transforming Bangladeshi semai into an international festive staple.”
The demand for sugar, cooking oil and other essentials surges by 20 to 30 per cent. Taslim Shahriar, Deputy General Manager of Meghna Group of Industries, observes: “Consumer spending peaks during Eid, not just on essentials but also on entertainment and leisure.”
Yet, even amid this dazzling economic spectacle, shadows of concern linger. Inflation, a silent spectre, casts its weight on household budgets.
Professor Mustafizur Rahman, a Distinguished Fellow at the Centre for Policy Dialogue (CPD), warns, “The economic situation remains precarious. Inflation is squeezing household incomes, forcing many to prioritise essentials over extravagance.”
Balancing this, M Masrur Reaz, former World Bank economist and Chairman of Policy Exchange Bangladesh, offers a glimmer of optimism. “The recent monetary policies have increased liquidity, stabilising inflation to an extent. Domestic production and imports have risen, ensuring a steady supply of goods. The economic engine remains resilient.”
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Regardless of these nuances, the spirit of Eid shopping remains unwavering. With every exchanged note, every wrapped gift, and every shared feast, the festival breathes life into Bangladesh’s economy, ensuring that celebration and commerce continue their harmonious dance.