Islampur, in old Dhaka, hosts the largest wholesale clothing market in the country. Nearly 60% of the market’s annual business revolves around Eid-ul-Fitr.
The hustle and bustle of the massive market usually begin well before Shab-e-Barat. However, this Ramadan, a different picture is emerging. Despite six days of fasting passing, the wholesale market hasn’t picked up as usual.
This has elicited mixed reactions among the traders. Some say that although selling usually starts before Ramadan, this time it has been delayed. Others attribute it to dissatisfaction. Primarily, widespread inflation, increased import expenses due to a higher dollar rate, inability to open LCs, and insufficient funds in people’s hands have contributed to the subdued atmosphere in the wholesale clothing market. However, traders hope that within a couple of days, buyers will start flocking to the market.
Traders claim that they usually finish their preparations well before the start of Ramadan. Buyers from various parts of the country start arriving from the first day of fasting. But this time, even after six days of Ramadan, buyers seem to be missing. Moreover, the usual buzz of ‘Bismillah’ is absent. Business is very slow, and there are hardly any customers ahead of Eid. Many have even canceled their orders.
On Sunday (March 17), the country’s largest wholesale clothing market in Islampur saw visits from traders to various businesses, including Vikrampur Garden City, Gulshan Ara City Complex, China Market, Nawabbari Market, Hajji Sharfuddin Mansion, Hajji Yusuf Mansion, Amanullah Complex, Latif Tower, A. Mabud Rine Tower, Lyon Tower, Madina Building, Hajji Shamsuddin Mansion, Halim Plaza, and Sonar Bangla Market, all of which were adorned with foreign clothing. Every shop is well-prepared, just like in other times of the year. However, the sales are nearly the same as usual. Wholesale buyers are seen in various shops, negotiating prices. Small roads around the market are bustling with activity.
Although known as a wholesale market for locally made and imported clothing, Islampur market also hosts shops selling second-hand clothing. The market offers a wide range of items, including three-piece suits, salwar kameez, saris, shirts, pants, and panjabis, in various foreign brands. Imported clothing is also available. Therefore, any festival becomes the center of attention, causing a huge rush in this market. The central part of the market is reserved for the wholesale retailers. As a result, the entire market remains crowded with buyers and sellers, making this place always lively. However, the scenario is entirely different in the wholesale market. Although selling usually starts around one and a half months before Eid, this time, the market hasn’t picked up even in Ramadan. The overall inflation and increased import expenses have led to increased prices in almost all products. As a result, sales have decreased.
Regarding this, Mr. Rahim Sheikh, a businessman in the three-piece business of China Market, told Bangla News, “Sales are much lower than expected. Some days, there are sales, and some days, there aren’t. If people have money, they will buy. But customers are few. Those who used to buy 500 yards of fabric last year are now buying 300 yards. The high price of the dollar has made it difficult to open LCs, which has led to a decrease in imports of threads, dyes, and fabrics. Whatever fabric comes in is also much more expensive. Along with this, the rise in the prices of essential commodities has made people think twice about spending. The issue of clothes comes later.”
