Growing Trend of Super Shops: Impact, Development and Future Prospects in Bangladesh

Growing Trend of Super Shops: Impact, Development and Future Prospects in Bangladesh

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The inflation rate was above 9 percent for almost the entire 2023. In addition to rising food prices, inflation of non-food items was also quite high.

Traders say that although super shop consumers are not low-income people, a large section of them are under immense pressure due to inflation.

Speaking to Prothom Alo, Kazi Ruhul Amin, president of Prince Bazaar, said, “Although the number of customers has not declined that much, there has been a decline in sales. People who used to spend Tk 2,000 at super shops are now spending Tk 1,000.

In some cases, shoppers have curbed purchases by 10 to 20 percent, said Sabbir Hasan Nasir, executive director of super shop chain Shwapno. Otherwise, we can make more profits.”

Apart from inflation, entrepreneurs are facing problems in opening letters of credit (LC) due to increase in the value of dollar, leading to decline in the overall growth of profits. In addition, customers also have to bear some four to five percent VAT (value added tax) when they purchase from super shops. As a result, many customers avoid super shops. Therefore, super shop owners demanded a more consistent VAT.

Ahmed Shoyab Iqbal, chief operating officer (COO), Meena Bazaar, said, “Super shops are now playing an effective role in meeting the daily needs of people as well as controlling monopoly prices of products. However, the market for super shop business will expand further if it enjoys the same privileges as open markets.”

*This report appeared on the print and online editions of Prothom Alo and has been rewritten in English by Ashish Basu

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