Umbrella sales up threefold

Umbrella sales have started climbing fast — at least three to fourfold — after Cyclone Ashani-induced sporadic rain left many parts of the country, including the capital Dhaka, drenched over the past two weeks.

While heavy rain or thundershowers played a part, the sweltering summer heat over the past few days is also forcing people to seek shelter under umbrellas when out and about. And with monsoon approaching, umbrella sales will only go up, traders hope.

Wholesale and retail traders say their sales have increased three-four times than usual. Since the rainy season is also on the way, demand for umbrellas will only rise — such as the case between May and August every year.

Based on size and quality, prices of umbrellas vary from Tk 100 to Tk 500, they said.

The easy-to-carry compact umbrellas are the most sought-after ones nowadays, this correspondent found during visits to several wholesale and retail markets in Old Dhaka, Gulistan and Mouchak areas of the capital.

Buyers looking for umbrellas in retail markets, however, alleged that the prices were going up as the demand is increasing.

At Mouchak Market, Selina Kazi said she paid Tk 550 to buy a rainbow-coloured umbrella for her son, a fourth-grader. “It definitely felt costlier.”

According to traders, umbrellas are rarely locally made. Most of them come from China. However, there are some local manufacturers in Old Dhaka’s Chawkbazar and Imamganj who use waterproof fabric imported from China and Thailand.

Although there is no accurate data on the country’s umbrellas industry, they think its size could be over Tk 100 crore and more than 50,000 people are directly and indirectly involved in this sector.

Compact ones most wanted

Masud Rana, owner of M/S Al Safin Traders at the wholesale market in the Chawk Mughaltuli area, told The Business Post that they sell both large and small umbrellas. “The demand for compact umbrellas is very high.”

He said there was a high demand for Sharif brand’s umbrellas before, but now people look for the umbrellas of Shankar, Rahman, Atlas and Moon brands as well. Of those, Shankar umbrellas are now the most wanted. RB Enterprise Manager Humayun Ahmed said the wholesale prices of imported umbrellas range between Tk 150 and Tk 450 depending on size, quality and design.

A single-fold umbrella generally costs Tk 200-300, a two-fold one costs Tk 250-300, and a three-fold one costs Tk 250-450. A locally-made single-fold umbrella generally costs Tk 150-350, he said.

The prices of umbrellas for children, however, are far lower than these. Children’s umbrellas are usually sold at between Tk 100 and Tk 150 but they may vary from market to market, based on design and quality, Humayun added.

Aminul Islam, a businessman from Gazipur’s Joydebpur, bought 100 umbrellas at wholesale prices from Old Dhaka’s Imamganj. The demand and use of umbrellas increased after the recent heavy rains and it will continue during the monsoon, he told The Business Post.

He said most of the umbrellas he bought were compact ones as they are easily transportable and in high demand. “I also bought some larger umbrellas as there is a demand for them among the elderlies. Excluding various expenses, I hope to make a profit of Tk 100 or more per umbrella.”

Abu Taher, an umbrella seller in Gulistan Shopping Complex, popularly known as the Gulistan hall market, said the demand for imported umbrellas is high among young and middle-aged people for their colours, designs and attractiveness.

“Most of the buyers prefer the single colour umbrellas. But the demand for umbrellas with different designs is also good. Some buyers even show more interest in design than quality,” he said, before adding that he tries to profit Tk 80-100 from each sale.