Local brands go for huge discounts to clear stocks
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Monday
August 15, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
MONDAY, AUGUST 15, 2022
Local brands go for huge discounts to clear stocks

Economy

Abbas Uddin Noyon
20 July, 2020, 10:10 am
Last modified: 21 July, 2020, 12:39 pm

Related News

  • bKash offers 15% cashback on games and rides at Toggi World
  • Fair-price sale: Poor wait in despair while well off take more
  • How local brands replaced foreign ones in 50 years
  • Watch Ads, 100% discounts and other scams you should be aware of
  • 'Pathao Points' can now be redeemed on SWAP

Local brands go for huge discounts to clear stocks

Although traders usually consider Eid as the prime time of businesses, this time, they are in a race to clear old stocks and meet operating expenses

Abbas Uddin Noyon
20 July, 2020, 10:10 am
Last modified: 21 July, 2020, 12:39 pm
Photo: Mumit M
Photo: Mumit M

Infinity, one of the country's leading lifestyle brands, is now offering huge discounts on various products. The brand is giving 50 percent off on old outfits and up to 20 percent on new ones.

The company is also selling shoes, jewellery, cosmetics and other fashion products at different discounted rates.

Infinity officials said they have never offered such big discounts on all types of products, including those that have only arrived recently.

Afsar Uddin, manager of Infinity Mega Mall at the Bashundhara Shopping Mall, told The Business Standard, "Our priority now is to clear stocks rather than making profits."

Many retailers are dangling more discounts than usual to attract customers after their businesses opened up again with the end of the 66-day shutdown. Although traders usually consider Eid as the prime time of businesses, this time, they are in a race to clear old stocks and meet operating expenses.

Almost all brands such as Bata, Apex, Lotto, Gentle Park, Yellow, Cats Eye, Menz Club, Sony Rangs, Vision, Otobi, Best Buy and so on are giving markdowns ranging from 10 to 70 percent, depending on products and designs.

The brands are also selling products on equal monthly instalments (EMI) and online at special discounts.

Although the government allowed shops, markets and shopping malls to reopen from May 10, there was a feeble response from consumers. The authorities of large shopping malls had decided to keep those closed until the coronavirus situation improved despite the permission to open.

Helal Uddin, president of the Bangladesh Shop Owners Association, said many retailers are selling products at losses only to clear inventory that had been sitting in closed stores during the shutdown and to cover operating costs.

"At the moment, businesses prioritise only survival. So, they are selling products only to get by capital they invested. Some are selling at losses to cover the costs," he added.

Photo: Mumit M
Photo: Mumit M

Discounts galore on clothing items

While visiting different markets in Dhaka, it was seen that clothes are selling with the highest discount till now.

Most retail brands are offering bigger discounts than Infinity's on boy's punjabi, polo t-shirts, graphics t-shirts, business formal and casual shirts.

Markdowns are also available on various trendy kurtis for girls, ethnic three-pieces, fusion tops, girl children's t-shirts, polo t-shirts, frocks and tops.

Gentle Park, one of the country's leading clothing brands, is giving 70 percent off on everything to arrange money to pay showroom rent and employees' salaries.

Another fashion brand Sailor has also begun its monsoon sales offer. The brand is giving 30-50 percent off on all products. Rang Bangladesh is selling all the products at a half-price offer.

Domestic big brands such as Menz Club, Richman, Trends, Lubna and several others are selling products with 50 percent discount.

Cats Eye is giving 40 percent off on all products on the occasion of its 40th anniversary. A few brands including Oxygen and Red Origin are offering similar discounts.

Arifur Rahman, a sales officer at Cats Eye's Bashundhara branch, said, "The factory is producing new products. Special discounts have been given on all old products to meet showroom and factory costs. Perking up consumer sentiments is also one of the reasons for this discount."

Photo: Mumit M
Photo: Mumit M

Discounts on Bata, Apex

Bata and Apex, the most prominent names of shoes and sandals in the country, have given huge discounts on different models ahead of the upcoming Eid-ul-Azha. Bata is attracting buyers and visitors with discounts of up to 70 percent on most models.

Apex Footwear, on the other hand, is offering double deals on their specific models. Buyers are getting another product and cashback if they buy a pair of shoes under this deal.

Under this offer, more than 50 percent discount is being offered on some products, said Rajib, a cashier from Apex's Bashundhara outlet.

He said, "In normal times, their daily sales amounted to around Tk25 lakh, but it is now less than Tk10 lakh. As a result, there is no other way but to give discounts. "

Italian brand Lotto is offering up to 20 percent discount. Lotto shoes, sandals and other clothing are being offered at 10-15 percent more discounts on bill payments on EMI and through credit cards.

Md Khokon, Lotto's Bashundhara outlet manager, told The Business Standard, "We are now only getting 25-30 percent customers compared to that in the pre-pandemic period. We have huge stocks lying unsold. Therefore, we are giving discounts. However, online sales are going pretty good. "

Photo: Mumit M
Photo: Mumit M

Money off on electronics products

Although retail sales of electronic items are slightly higher than those of other products, there are still discounts on such products. Rangs is selling all of their refrigerators with discounts of up to 30-62 percent.

Samsung, one of the big brands, is offering cash back up to 20-40 percent on refrigerators and air conditioners. Jamuna Electronics is giving 20-50 percent discounts on all of their products.

Minister and Vision refrigerators are giving a flat 20 percent discount on their products. On the other hand, Walton, the country's top electronics giant, is giving up to 10 percent off on credit card payments and a "millionaire offer" on their fridges and air conditioners.

Uday Hakim, executive director at Walton, said the sales season for electronics products is between March and July. There were no sales opportunities in the first three months. As a result, buyers are going for their pent-up spending. They are also giving discounts to attract more customers.

Photo: Mumit M
Photo: Mumit M

The exception of Aarong and Yellow

Although almost all retail brands in the country have offered huge discounts, Aarong is an exception in this regard. Its sales are now lower than usual, but there is no discount on products. All types of clothes, including punjabi and sarees, are being sold at the previous prices in all the showrooms of the company.

However, a senior salesman at Aarong's Bashundhara branch, said the sales were more than 50 percent of the usual time.

Yellow has also brought Eid collections and those are being sold without any discount.

Top News

local brand / stock clearance / Sale / discounts

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Fuel prices to be cut once they drop globally: PM
    Fuel prices to be cut once they drop globally: PM
  • Banks limited to profit highest Tk1 per dollar
    Banks limited to profit highest Tk1 per dollar
  • From left Afzal Karim, Murshedul Kabir and Mohammad Jahangir
    Sonali, Agrani and Rupali banks get new MDs

MOST VIEWED

  • Anwar Group looks beyond slowdown – invests Tk5,000cr
    Anwar Group looks beyond slowdown – invests Tk5,000cr
  • TBS file photo
    Now 99% Bangladesh products come under China’s duty-free offer
  • Representational image. Picture: Collected
    Gold prices soar by Tk1,954 per bhori
  • Photo: Noor-A-Alam
    Dollar climbs to record Tk119 in kerb market
  • Prices of cotton yarn on decline
    Textile millers in triple trouble
  • Photo: TBS
    Govt fixes area-wise staggered holidays for factories

Related News

  • bKash offers 15% cashback on games and rides at Toggi World
  • Fair-price sale: Poor wait in despair while well off take more
  • How local brands replaced foreign ones in 50 years
  • Watch Ads, 100% discounts and other scams you should be aware of
  • 'Pathao Points' can now be redeemed on SWAP

Features

Photos: M Aminur Rahman

Mallik Ghat flower market: the biggest hub for flowers in Asia

9h | In Focus
Infigraphic: TBS

The dollar crunch chronicles

14h | Panorama
The proposed playground for disabled people has long been left to grow bushes on the premises of the National Parliament Building in the city. Photo: Noor-A-Alam

Whatever happened to the ‘promised land’ for the disabled?

13h | Panorama
Sketch: TBS

India’s 75th anniversary is one to forget

12h | Panorama

More Videos from TBS

"We got caught in the cyclone while shooting Hawa"

"We got caught in the cyclone while shooting Hawa"

2h | Videos
Get your child's Covid vaccine registration done in few easy steps

Get your child's Covid vaccine registration done in few easy steps

2h | Videos
UN expresses concern over Ukraine's Zaporizhia nuke plant

UN expresses concern over Ukraine's Zaporizhia nuke plant

4h | Videos
ADB's $9.46B coming to cover development costs

ADB's $9.46B coming to cover development costs

6h | Videos

Most Read

1
Dollar crisis: BB orders removal of 6 banks’ treasury chiefs 
Banking

Dollar crisis: BB orders removal of 6 banks’ treasury chiefs 

2
Photo: Collected
Transport

Will Tokyo’s traffic model solve Dhaka’s gridlocks?

3
Representational Image. Photo: Collected
Bangladesh

Air passengers should plan extra commute time to airport: DMP

4
Arrest warrant against Habib Group chairman, 4 others 
Crime

Arrest warrant against Habib Group chairman, 4 others 

5
File Photo: State Minister for Power, Energy and Mineral Resources Nasrul Hamid
Energy

All factories to remain closed once a week under rationing system

6
Ambassador of Switzerland to Bangladesh Nathalie Chuard. Photo: Courtesy
Bangladesh

Bangladesh never asked for particular info from Swiss bank: Ambassador

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]