After putting up tremendous apparel export performance of late– shrugging off the fallouts of the COVID-19 pandemic– Bangladesh apparel exporters are now apprehending a slowdown as major buyers like Walmart are hit by increased inflation.
A news report by Reuters underlined this while adding Walmart, which caters to cost-conscious shoppers, has decided to reduce apparel and general merchandise price aggressively, than it did in May, to reduce spring backlog.
Meanwhile, speaking to the media, BGMEA President Faruque Hassan, reportedly, accepted ‘orders have slowed down’ even as he added countries in the West are raising interest rates.
“Demand for clothing is less and people are giving priority to food and mortgages,” opined the BGMEA chair.