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Online platforms have become increasingly important, allowing companies to reduce operational costs while reaching a broader audience. “Investing in after-sales services and customer engagement initiatives can help maintain brand loyalty,” he added.

While the overall market has slowed, some product categories have been more affected than others. “Due to inflationary pressures, consumers have been delaying non-essential purchases, leading to a decline in demand across all major electronic categories,” Fairoz observed.

“However, as consumer confidence improves, demand is expected to pick up. Essential household appliances, such as refrigerators and washing machines, are likely to see a stronger recovery compared to luxury electronics.”

Despite current economic challenges, Bangladesh remains a promising investment market. However, businesses are proceeding cautiously. “Many companies are monitoring market conditions before committing to large-scale investments,” Fairoz said. “In the electronics sector, overcapacity is already an issue, leading companies to focus on optimising existing operations rather than expanding production facilities.”

Foreign investors are also closely observing Bangladesh’s economic stability. “A favourable investment climate with consistent policies will be crucial in attracting further investment in the coming years,” he emphasised.

Artificial intelligence (AI) is becoming an integral part of modern manufacturing. “Global companies, including our parent company Beko, have already implemented AI-driven solutions across multiple markets,” Fairoz said. “AI can improve production efficiency, streamline supply chains, and enhance product quality.”

Singer has begun incorporating robotics and AI-driven automation into its production lines. “Beyond manufacturing, AI is being utilised in areas such as customer service, demand forecasting, and digital marketing. We see AI as a key tool for gaining a competitive advantage in the market.”

The electronics sector in Bangladesh is facing multiple challenges, but there are positive signs of recovery. “Government support in the form of stable policies and business-friendly regulations will be crucial in driving industry growth,” Fairoz said. “Encouraging foreign investment and fostering a competitive environment will further strengthen the sector.”

Companies must continue to adapt to changing market conditions by focusing on cost management, innovative marketing strategies, and technological advancements, he said, adding, “By leveraging AI, optimising supply chains, and improving customer engagement, businesses can navigate the current economic uncertainties and position themselves for long-term success.”