Retailers across Bangladesh are facing a dire situation as political unrest related to the student-led movement demanding government resignation plunges the country into turmoil.
Shops and malls nationwide shuttered on the first day of the non-cooperation movement, with an indefinite curfew and a three-day general holiday compounding fears of severe financial losses.
The unrest, which has resulted in at least 73 deaths and numerous injuries, has prompted the government to enforce a curfew starting at 6 p.m. and to declare a general holiday starting today. This has led to widespread closures and a drastic drop in consumer spending.
Dewan Aminul Islam Shaheen, president of the Dhaka New Market Business Owners' Association, reported that shops in areas like Science Laboratory and Elephant Road had to close after initially opening in the morning. Retailers are experiencing unprecedented declines in sales, with many facing zero revenue due to the escalating situation.
Mozammel Haque, general secretary of the Sanmar Ocean City Shop Owners' Association in Chattogram, echoed similar concerns, noting that the market has been closed and losses are mounting. Retailers are grappling with the compounded impact of the current unrest following a prolonged period of instability earlier this year, which had already hit their businesses hard.
Helal Uddin, president of the Bangladesh Shop Owners Association, highlighted that while some shops opened briefly, the overall business landscape remains grim, with unpredictable future losses looming.
The student movement, which began in July with demands for quota reforms, has escalated into broader protests, leading to severe disruptions in commercial activities and public life. As retailers count the costs of the ongoing unrest, the situation continues to threaten the stability of the retail sector and the broader economy.
