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MEDIUM-SMALL RETAIL BUSINESS

70pc sales gone with blockade

Sohel Parvez and Gazi Towhid Ahmed
The ongoing political unrest wiped out as much as 70 percent of retail sales across the country in the last one month, pushing many medium and small retailers to the brink of closing their businesses.
Apart from retailers, around 24 lakh hawkers and street vendors have seen a
sharp fall in sales, as the number of buyers plunged amid fears of arson and bomb attacks.
Bangladesh Shop Owners' Association that represents 25 lakh retailers in the country said their average sales dropped to around Tk 900 crore from Tk3,000crore a day.
It said the slump in sales began since the BNP-led alliance enforced the non-stop
blockade on January 6.
"We keep our stores open but there is hardly any customer," said Shah Alam Khandaker, secretary general of Bangladesh Shop Owners’ Association.
Retailers said people are mostly buying essentials especially perishable commodities. The sales of relatively nonessential
items — personal, home care and lifestyle products - have slumped.
Sales at Aarong, a leading fashion house, dropped by almost half in January compared to that in December last year, said its executives.
Miron Rahman Mamun, senior sales executive of Panna Electronics that sells products of Japanese electronics maker Panasonic, said their daily sales fell to Tk 40,000 from Tk 5 lakh.
Small and medium traders are also in deep trouble.
Daily sales of Mayer Doa General Store at Farmgate fell more than 65 percent to Tk 5,000 from Tk 15,000, said its owner Maruful Islam.
Attacks on goods-carrying vehicles have severely disrupted the supply chain and affected almost all major sectors and stakeholders of the $ 150-billion economy.
Back in 2013, businesses, especially retailers, had suffered heavily due to political unrest.
"We are yet to recover from those losses. The current turmoil will make many of us bankrupt," said Shop Owners' Association leader Shah Alam.
Wholesale and retail trade accounts for 14.09 percent of the country's GDP. The sector grows by more than 6 percent a year.
With falling sales, shop owners and retailers struggle to bear operational costs, including space rent and utility bills, which amount to around Tk 150 crore a day, says the association.
"How will we pay salaries if this
situation persists?" asked Shah Alam.
Association Chairman SA Quader Keron fears many small and medium enterprises would see their bank loans become classified for failing to pay monthly instalments.
"We are also victims of political instability," said Shaheen Khan, chief operating officer of Meena Bazar, a leading superstore chain with 18 outlets.
Availability of products at retail outlets dropped substantially due to disruption in supply chain. Besides, transport costs doubled leading to price spiral of perishable items, said Shaheen.
"We had high expectations for this year." As part of an expansion plan, Meena Bazar planned to open eight stores by this year.
"We have a store ready on Elephant Road. But we cannot open it for not having enough products to put on display,” he said.
Sales of Shwapno's franchises outside the capital were also seriously affected, said Sabbir Hasan Nasir, executive director of ACI Logistics Ltd that operates the country's largest retail chain.
"People are mainly buying essential commodities. The demand for home and personal care items as well as lifestyle products has fallen," he said.
Mohammad Abdur Rouf, chief operating officer of Aarong, said, ”Our entire production and supply chain has been affected. ”
Roktim, a cloth and shoe store on
Elephant Road, saw its sales fall toTk 5,000 from Tk 20,000 a day.
"If the blockade continues, we will not survive," said its Sales ManagerTapu Sarwer Ahmed.
It wouldn't be possible to pay the shop rent this month, he said.
Sales of Saj Mahal, a shop for wedding dresses at Kataban, also slumped by 80 percent though it is the peak wedding season.
"We are struggling to pay shop rent and staffs salaries," said Arif Hossan Suman, assistant manager of the outlet.
Hawkers and street vendors in the capital are also hit hard by the ongoing turmoil.
Fruit vendor Mohammad Ali now finds it hard to feed his four-member family.
"Daily sales have come down to Tk 2,000 from Tk 5,000," said the 60-year-old vendor at Motijheel.
Mohammad Sohag, another street vendor in Motijheel, said he usually sold around 250 coconuts a day but it slumped to only 50 in the last one month.
The 27-year-old man is struggling to provide for his family of four in Kamalapur.
"I don't know how I will pay the house rent ofTk 4,500," he said.
Jannatul Ferdous, who sells T-shirts at Karwan Bazar, said the sales came down to Tk 500 from Tk 2,000 a day.
With seven mouths to feed, the 21-year-old street vendor is worried about the future.