Shoyeb Archives

Super Shop in Bangladesh

October 14, 2024

by Ahmed Shoyeb Iqbal with No Comment Blog

Super shops in Bangladesh, also known as supermarkets, represent a growing segment of the retail landscape, especially in urban centers like Dhaka, Chittagong, and Sylhet. These stores offer a modern, convenient, and hygienic shopping experience, catering primarily to middle- and upper-middle-class consumers. Here’s an overview of the super shop culture in Bangladesh:

1. Definition of Super Shops

Super shops in Bangladesh are self-service retail outlets that sell a wide variety of products, including groceries, fresh produce, household items, personal care products, and in some cases, apparel and electronics.
These stores operate on fixed pricing models, offering an alternative to traditional open markets and kiryana stores where prices may vary, and haggling is common.

2. Key Players in the Super Shop Market

Shwapno: The largest supermarket chain in Bangladesh, Shwapno operates more than 200 stores across the country, offering a variety of products, from fresh food and groceries to household essentials. It caters to urban customers and offers both physical and online shopping options.
Meena Bazar: Another prominent name in the super shop industry, Meena Bazar operates in major cities and is known for its premium products and a wide selection of both local and imported items. The chain focuses on food safety and quality, appealing to middle- and upper-class customers.
Agora: One of the first modern retail chains in Bangladesh, Agora is recognized for offering high-quality, fresh food products in clean and organized stores. Its focus on food safety has made it popular among health-conscious consumers.
Unimart: Positioned as a high-end supermarket, Unimart offers premium products, including a wide range of imported goods. It caters to more affluent consumers, offering groceries, household items, electronics, and lifestyle products.
Prince Bazar: A smaller chain, Prince Bazar offers a similar product range as the bigger chains but operates on a more localized scale, appealing to customers who prefer a more neighborhood-oriented shopping experience.

3. Characteristics of Super Shops

Wide Product Range: Super shops provide a diverse selection of products, from fresh fruits and vegetables to imported snacks, beverages, dairy products, and frozen foods. They often stock personal care items, cleaning supplies, and household necessities.
Hygienic Shopping Environment: One of the major draws of super shops is the clean and organized environment they provide compared to traditional markets. This is particularly important for urban customers who are increasingly health-conscious and concerned about food safety.
Convenience: Super shops provide a one-stop shopping experience, where customers can buy a variety of items in one visit, without the need to visit multiple vendors.
Fixed Pricing: Unlike traditional shops where haggling is common, super shops operate on fixed prices, ensuring price transparency. Customers generally trust these outlets for consistent pricing.

4. Consumer Trends and Preferences

Urbanization: The rapid expansion of urban areas in Bangladesh has fueled the demand for super shops, as city dwellers increasingly value the convenience, hygiene, and variety offered by these outlets.
Time-Saving: As more people lead busy lives, particularly in dual-income households, the ability to shop for all household needs in one place is a major draw for super shops.
Health and Safety: Since the COVID-19 pandemic, there has been a growing emphasis on health and safety, with more consumers gravitating towards super shops that provide a cleaner and more hygienic shopping environment than traditional open-air markets.
Brand Consciousness: Middle- and upper-middle-class consumers are increasingly brand-conscious, seeking both local and international brands for their groceries, personal care products, and household goods. Super shops cater to this demand by stocking a mix of well-known and premium brands.

5. Challenges for Super Shops

Competition from Traditional Markets: Despite the growth of super shops, traditional markets and small neighborhood shops still dominate much of the retail landscape in Bangladesh, particularly in rural and semi-urban areas. These traditional stores often have lower operating costs and can offer competitive prices.
Supply Chain and Logistics: Super shops, especially those dealing with fresh produce and perishables, face challenges in maintaining efficient supply chains. Managing inventory to avoid stockouts or spoilage can be difficult, particularly in a country with infrastructure limitations.
Consumer Loyalty: Many consumers, especially in rural and semi-urban areas, remain loyal to their local kiryana stores due to personal relationships with shopkeepers, proximity, and the ability to buy on credit.

6. Online Integration

Many super shop chains have embraced e-commerce to reach more consumers, especially in cities where internet penetration and smartphone use are high.
Shwapno Online and MeenaClick (Meena Bazar’s online store) allow customers to shop for groceries and household items from the convenience of their homes, with delivery services across major cities. This has helped them tap into the growing online grocery shopping trend, particularly after the COVID-19 pandemic.
Chaldal: While not a traditional super shop, Chaldal is the largest online grocery platform in Bangladesh, competing with physical super shops by offering a wide range of products and rapid delivery services.

7. Impact of the COVID-19 Pandemic

The pandemic accelerated the shift toward modern retail formats, including super shops, as consumers became more concerned about hygiene and physical distancing. Super shops implemented safety measures such as sanitizing stores, maintaining social distancing, and providing delivery services, which helped boost their appeal.
Online shopping for groceries surged during the pandemic, with platforms like Chaldal and the online arms of super shops seeing significant growth in order volumes.

8. Future of Super Shops in Bangladesh

Expansion into Smaller Cities: As disposable incomes rise in smaller cities and towns, there is potential for the expansion of super shops beyond the major metropolitan areas. Chains like Shwapno and Meena Bazar are expected to explore more opportunities in tier-2 and tier-3 cities.
Technology Integration: The use of technology in inventory management, customer service, and delivery logistics will become increasingly important for the growth of super shops. Mobile apps, digital payments, and data-driven customer loyalty programs are likely to become more prevalent.
Sustainability: As consumers become more environmentally conscious, super shops may increasingly adopt sustainable practices, such as reducing plastic packaging, promoting local produce, and incorporating eco-friendly products into their offerings.

Conclusion

Super shops in Bangladesh are playing a crucial role in the transformation of the retail sector, particularly in urban areas. They offer a modern, convenient, and hygienic shopping experience that appeals to a growing middle class with rising disposable incomes and a preference for quality, convenience, and brand variety. While super shops face challenges such as competition from traditional markets and logistical issues, the sector is poised for further growth, especially with increasing online integration and expansion into smaller cities.

By Ahmed Shoyeb Iqbal

Organized Retail in Bangladesh

October 14, 2024

by Ahmed Shoyeb Iqbal with No Comment Blog

Organized retail in Bangladesh is gradually gaining momentum, driven by increasing urbanization, rising incomes, and changing consumer behavior. Although traditional retail (such as open markets and small local shops) still dominates, the country has seen steady growth in modern, organized retail formats such as supermarkets, shopping malls, and branded retail chains. Here’s an overview of the organized retail sector in Bangladesh:

1. Key Characteristics of Organized Retail

Standardized Practices: Organized retail refers to retailers operating with standardized and professional practices, including proper supply chain management, pricing strategies, modern store layouts, and customer service.
Variety of Goods: These stores offer a wide range of products, including groceries, apparel, electronics, household items, and lifestyle products, often under one roof.
Chain Stores: Many organized retail players have multiple outlets across cities, ensuring consistency in quality, pricing, and service.

2. Types of Organized Retail

Supermarkets and Hypermarkets:
- Chains like Shwapno, Meena Bazar, Agora, and Unimart are leading the organized retail scene, particularly in grocery and household goods.
- These stores focus on providing customers with a clean shopping environment, fixed prices, and a wide selection of local and imported products.
- Supermarkets are primarily focused on food and FMCG (fast-moving consumer goods), while larger hypermarkets (like Unimart) also offer clothing, electronics, and home goods.
Shopping Malls:
- Jamuna Future Park in Dhaka, one of the largest malls in South Asia, symbolizes the growing trend of shopping malls in Bangladesh. Other prominent malls include Bashundhara City and Metro Shopping Mall.
- These malls house various organized retail stores, including international brands, local fashion brands, electronics, and dining options, providing an all-in-one shopping and entertainment experience.
Apparel and Lifestyle Brands:
- Bangladesh’s textile and apparel sector is world-renowned, and brands like Aarong, Yellow, Cats Eye, Kay Kraft, and Dorji Bari operate organized retail outlets across the country.
- International brands such as Levi’s, H&M, and Adidas are also entering the market through organized retail stores.
Electronics and Appliances:
- Major retail chains such as Rangs Electronics, Transcom Digital, and Best Electronics operate organized retail outlets across Bangladesh, offering a range of home appliances, smartphones, computers, and other electronics.

3. Growth Drivers

Urbanization: The rapid growth of cities like Dhaka, Chittagong, and Sylhet has fueled the demand for modern retail formats. Urban consumers are increasingly drawn to organized retail due to convenience, quality, and variety.
Rising Middle Class: As income levels rise, particularly among the urban middle class, consumers are willing to spend more on quality products, brands, and an improved shopping experience.
Changing Lifestyles: The shift towards nuclear families, a busier lifestyle, and increased exposure to global retail trends (thanks to international travel and social media) are pushing consumers toward organized retail formats.
Foreign Investment: Bangladesh’s growing economy and large population have attracted foreign investment in the retail sector, leading to an influx of international brands and retail chains.

4. Online Retail and E-commerce

While still in its early stages compared to other South Asian markets, online retail is growing rapidly in Bangladesh. Platforms like Daraz, Pickaboo, and Evaly (prior to its downfall) have created a robust online retail ecosystem.
Several organized brick-and-mortar retailers, like Shwapno and Meena Bazar, have also launched online stores to cater to the growing demand for e-commerce.
Chaldal, primarily focused on groceries, has become a major player in online organized retail.

5. Challenges Facing Organized Retail

High Real Estate Costs: The cost of real estate in prime urban locations is high, making it expensive for organized retailers to expand their physical presence.
Supply Chain Inefficiencies: Despite improvements, many organized retailers still face challenges with logistics and supply chain management, especially in terms of sourcing fresh produce and managing inventory efficiently.
Competition from Informal Sector: Traditional markets and informal retail, which operate with lower overheads and greater flexibility, remain tough competitors for organized retail, especially in semi-urban and rural areas.
Regulatory Hurdles: Inconsistent regulations, such as taxes and import duties, sometimes hinder the smooth operation of organized retail chains, especially for those dealing in imported goods.

6. Consumer Preferences and Trends

Convenience and Experience: Consumers increasingly value the convenience of organized retail, where they can shop for a variety of products under one roof. Additionally, the in-store experience—air-conditioned environments, clean facilities, and organized product displays—is an attraction.
Brand Consciousness: With greater exposure to global trends and brands, Bangladeshi consumers, especially younger generations, are becoming more brand-conscious, driving demand for both local and international brands.
Omnichannel Shopping: Many organized retailers are now adopting an omnichannel approach, where customers can browse products online and either have them delivered to their homes or pick them up in-store.

7. Future Prospects

Expansion into Tier 2 Cities: As Dhaka and Chittagong become more saturated, organized retailers are expanding into other urban centers like Khulna, Sylhet, Rajshahi, and Barishal, where middle-class populations are growing.
Technology Integration: The use of technology, including data analytics, digital payments, and customer loyalty programs, is expected to drive the growth of organized retail. Retailers are increasingly investing in improving the customer experience through mobile apps and digital marketing.
Sustainability: With a growing awareness of environmental issues, there is an emerging trend towards sustainable and ethical retail practices. Some retailers are adopting eco-friendly packaging, promoting local products, and emphasizing corporate social responsibility (CSR).

Conclusion

The organized retail sector in Bangladesh is evolving rapidly, driven by urbanization, rising incomes, and changing consumer expectations. While traditional markets remain dominant, organized retail is gaining ground, particularly in urban areas, offering consumers greater convenience, choice, and quality. As infrastructure improves and the middle class expands, the future of organized retail in Bangladesh looks promising, with continued growth and innovation expected in the coming years.

By Ahmed Shoyeb Iqbal

Grocery Retail in Bangladesh

October 14, 2024

by Ahmed Shoyeb Iqbal with No Comment Blog

Grocery Retail in Bangladesh: Trends, Opportunities, and Challenges

Grocery retail in Bangladesh is undergoing major changes driven by urbanization, changing consumption habits, and the rise of e-commerce. This dynamic industry offers a wide range of products, from fresh produce and processed goods to everyday household items, and plays a vital role in the country’s economy. As Bangladesh’s population continues to grow and urban areas expand, the grocery retail landscape is rapidly evolving to meet changing market demands.

Growth of Grocery Retail in Bangladesh:

With a population of over 170 million, grocery retail is growing rapidly in Bangladesh. Increasing urbanization and a growing middle class are the main drivers of this growth. As disposable income increases, there is a growing demand for modern retail formats such as supermarkets and hypermarkets in addition to traditional grocery stores. The retail market is expected to grow by more than 10% annually due to demographic changes, urban development, and infrastructure development.

Grocery Stores in Bangladesh:

The grocery retail sector in Bangladesh is experiencing significant growth due to urbanization, rising incomes, and changing consumer preferences. Traditional kirana stores, offering daily essentials like rice, lentils, and spices, remain popular for their convenience and personalized service, especially in rural areas.

Modern grocery retail formats, such as supermarkets and hypermarkets like Shwapno, Meena Bazar, and Agora, are growing rapidly in urban centers. These stores offer a variety of products, including imported goods and organic options, attracting middle- and upper-class consumers with quality and convenience.

Online grocery shopping is also on the rise, with platforms like Chaldal and Pathao Grocery gaining popularity. These platforms cater to busy consumers who prefer shopping from home, offering delivery services for added convenience.

Despite challenges like supply chain issues and price sensitivity, the grocery retail sector in Bangladesh is set for further expansion, driven by demand for variety, quality, and convenience.

Modern Grocery Retail Formats:

In recent years, modern grocery formats such as supermarkets, hypermarkets, and large retail chains have grown rapidly in Bangladesh. Chains like Shwapno, Meena Bazar, and Agora are leading the charge in transforming the grocery retail scene. These stores offer a wide range of products, from fresh produce to packaged goods, household items, and even electronics. The appeal lies in their organized shopping environment, fixed pricing, and regular promotions.

Consumers are also increasingly demanding higher quality products, including organic and imported goods, which these modern stores cater to.

Online Grocery Shopping in Bangladesh:

Online platforms like Chaldal, Pathao Grocery, and Daraz offer consumers the convenience of shopping from home, with quick home delivery options. This trend has gained momentum due to increasing internet penetration and the widespread use of smartphones. The COVID-19 pandemic accelerated the adoption of online shopping, and the online grocery segment is expected to continue its rapid growth.

However, challenges such as logistical issues, delivery delays, and the need for secure payment systems remain. Despite these hurdles, the demand for online grocery shopping is expected to increase as more consumers embrace digital solutions.

Grocery delivery service Bangladesh:

Grocery delivery services in Bangladesh have seen significant growth in recent years, driven by the demand for convenience and the country’s expanding digital infrastructure. Platforms like Chaldal, Pathao Grocery, Daraz, and SastaSundar are becoming popular choices for busy consumers, particularly in urban areas like Dhaka. These platforms offer a wide variety of products, including fresh produce, packaged goods, and household essentials, with the added benefit of home delivery.

The primary appeal of online grocery shopping is the timesaving convenience it offers, allowing consumers to shop from the comfort of their homes. Many platforms also offer features like subscription services for regular deliveries of essential items. However, challenges such as traffic congestion, infrastructure issues, and price sensitivity remain.

Despite these challenges, the future of grocery delivery services in Bangladesh looks bright, with further growth expected as digital adoption continues to rise and platforms improve delivery times, product selection, and customer experience.

Key Trends in the Grocery Retail Sector:

Several trends are shaping the grocery retail landscape in Bangladesh:

Health-Conscious Products: Consumers are increasingly seeking organic, gluten-free, and other health-focused food options.
Convenience: Timesaving solutions such as ready-to-eat meals, meal kits, and home delivery services are becoming popular among busy consumers.
Sustainability: Consumers are more aware of the environmental impact of their purchases. Retailers are adapting by using eco-friendly packaging and sourcing products from sustainable sources.
Technology Integration: Retailers are using technology for inventory management, data analytics, and enhancing the customer experience through mobile apps and online ordering systems.

Challenges in the Grocery Retail Sector:

The grocery retail sector in Bangladesh faces several challenges:

Supply Chain Issues: Inadequate infrastructure can lead to supply chain disruptions, affecting product availability and delivery times.
Price Sensitivity: Many consumers, especially in rural areas, are price-sensitive, making it difficult for retailers to maintain profit margins.
Regulatory Hurdles: Retailers must contend with numerous regulations and taxes, and complying can be costly and time-consuming.

In conclusion, the grocery retail market in Bangladesh is a dynamic sector with a mix of traditional and modern shopping formats. While traditional bazaars remain dominant, urbanization and changing consumer preferences are driving the growth of supermarkets and e-commerce platforms, marking a shift in the retail landscape.

By Ahmed Shoyeb Iqbal

Innovation in the Agricultural Sector

October 4, 2024

by Ahmed Shoyeb Iqbal with No Comment publications

Innovation in the Agricultural Sector:

The agricultural sector is one of the most crucial economic aspects of Bangladesh. Suffering from poverty and starvation to becoming a “medium hunger” country, the rise of the nation’s agro sector is commendable.

However, even after showing remarkable progress in the agricultural sector, the country still needs an “agricultural revolution” to achieve a zero-hunger rate in the near future.

Although implementing various digital solutions in the agro farms has been one of the biggest visions of the government, there is still a need for a sustainable model to revolutionize the country’s agriculture efficiently. And in such case, Bangladesh can gain some valuable insights from the “Dutch Agricultural Revolution.”

As a global leader in agricultural innovation and exports, the Netherlands implemented advanced water management, sustainable farming practices, and technological advancements to transform their agro sector effectively. Bangladesh can adopt these techniques and technologies to expedite its progress and achieve their goals more efficiently.

Innovation in Bangladesh agricultural sector: A comparison with The Dutch Agriculture and Innovations

Innovation is the key to an enhanced agricultural system in an economy. Modernization and digitalization in the agricultural sector can not only ensure the food security of the nation but also contribute to sustainable development.

And when it comes to innovation and digitalization in the agricultural sector, the Netherlands has built a name for itself as a pioneer. The Dutch can produce twice as much food using their available resources and technologies.

In 2022, the Dutch agricultural farms produced 4 million cows, 13 million pigs, and 104 million chickens, with nearly 24,000 acres of various crops and others. Such an amount of agricultural production not only fulfilled the Netherlands’ demand but also allowed the country to export worldwide. In fiscal year 2022, the Dutch economy earned an estimated 49.6 billion euros from agricultural exports, which made it the second-largest exporter of agricultural produce in the world.

But then again, Bangladesh isn’t too far behind in achieving self-sufficiency in food production. As the Bangladesh Agricultural Research Institute (BARI) and other research institutions are constantly researching and inventing newer technologies, Bangladesh has achieved remarkable progress in the agricultural sector. It has achieved an astonishing 3.54 percent increase in production per year (1999-2019) and is walking steadily to become like the Dutch agricultural sector.

Although there is a notable difference in agricultural innovation and digitalization in Bangladesh and the Dutch economy, both countries are working to achieve a sustainable environment.

A comparison of Bangladesh and the Dutch Agricultural Sector

Let’s have a look through the table for a quick view at how Bangladesh agricultural sector differs from the Dutch one because of modern innovations and technologies.

What is the current land area of the Netherlands, including the portion underwater, and how does their production capacity compare to that of Bangladesh?

The Netherlands is a relatively smaller country (41,850 km²) in western Europe, with 26% of its land (approximately 10,881 km²) situated under the sea level.

However, even though a larger portion of its land is underwater, this country still allocated 22.000 km² (2.2 million hectares) of land for agriculture. Using these lands and other necessary resources, the Netherlands produced 4 million cows, 13 million pigs, 104 million chickens, and nearly 24,000 acres of various crops and others. Such a phenomenal number of agro production was possible only because of their Smart Agro techniques and technologies.

However, the same cannot be said about the Bangladesh Agro sector. This nation has a total land area of 148,460 km² with 18,290 km2 of Bangladesh is underwater. Compared to the Netherlands, Bangladesh has more land area and available land for agriculture (79,600 km²). Yet, they fail to produce as many agro-products as the Dutch.

The nation produced 58.5 million tons of rice and other paddy, 14.07 million metric tons of milk, and 8.71 million metric tons of meat in 2023. Still they needed to import agro products worth $15 billion to fulfill the demand of the people of the country.

Discussion on the overall agricultural revolution of the Dutch

Referring to the “Dutch Agricultural Revolution”, the agricultural revolution in the Netherlands not only played a significant role in the country’s overall economic development but also contributed to world food production as a whole. Now, the Netherlands is the Second (2nd) largest agricultural exporter in the world.

However, the scenario was not always as such. During the “Golden Century” of the Netherlands, the population of the Capital grew from 30,000 to 200,000 within a short span of time. Such a dense population indicated that now the Dutch had more people to feed with limited resources, and therefore, they needed to find solutions for increased food production using the resources they had.

During the 17th and 18th centuries, the Dutch researched, invented, and developed more than a few agricultural techniques and technologies, like four-crop rotation, reaping machines, and others, to increase agricultural productivity and efficiency.

Here are some key aspects of the Dutch Agricultural Revolution:

Crop rotation and increased food production

Even though over half of the land in the Netherlands is used for agriculture, they still adopted the crop rotation technique to increase food production and simultaneously enhance the fertility of the soil.

Over the years, they developed a four-crop rotation to cut down the fallow period and increase soil fertility significantly. This technique increased food production (as all fields were used all year round) and enhanced feed for livestock. And when there was more food for livestock, the size of the herd and the production of meat, milk, and fertilizers also increased exceptionally.

Land reclamation and water management

A significant number of Dutch lands was and is still under the water. The Dutch people employed advanced techniques, like extensive impoldering, to reclaim these lands from the sea and inland water bodies for agricultural use. This innovative approach increased the amount of arable land available for agricultural use and hence, facilitated agricultural growth eventually.

In addition to using dikes, canals, and pumps, the nation also used windmills to pump water from agricultural land so that they don’t get affected by floods in any way.

Specializing in commercial agriculture

While increasing food production, the Dutch farmers also paid attention to cultivating high-value crops and livestock products that had high demand in urban markets and for export.

As this country has favorable weather conditions and enriched soil, the Government also aided the farmers with incentives and other facilities to enhance production efficiently. Besides fulfilling the nation’s demand, it also helped them to earn from abroad.

Research and technological innovations

Various technological and digital innovations played a great role in the Dutch Agricultural Revolution, and there is no doubt about that.

The nation invested enormous amount of time and money on Research & Development for their agricultural techniques and technologies. Many agricultural research institutions, including Wageningen University & Research (WUR), focused on innovating new agricultural tools and machinery, newer plant breeding, and sustainable farming practices to increase efficiency as well as productivity.

Besides embracing modern technologies and mechanization, the Netherlands also adopted greenhouse technology to revolutionize agro production. The use of greenhouses allowed the Dutch to cultivate crops all year round (fresh produce) and ensured a steady supply of fresh fruits and vegetables to both national and international markets.

What lessons can Bangladesh learn from the Dutch to effectively overcome their food challenge?

With the government’s support and the private sector’s investment, the agro sector of Bangladesh has shown remarkable progress over the last decade. With a Global Hunger Index of 19.0 in 2023, Bangladesh has now become a nation with a “moderate hunger rate,” while it was under a “serious hunger rate” just two decades ago.

However, the nation is still not independent in food production. Bangladesh can learn a few things from the Dutch Agro System to effectively overcome its food challenges. Some of the lessons that the country can adopt from the Netherlands are:

Adopt advanced water management and land reclamation

Just like the Netherlands, a considerable amount of land in Bangladesh is also underwater. However, while the Dutch took land reclamation seriously, BD still needs to consider this technique to increase land for agricultural purposes.

The government and related parties can launch land reclamation and water management projects (especially in flood-prone areas and coastal regions) to increase arable land. Advanced irrigation techniques and water management practices can be developed for efficient irrigation infrastructure, ensure water availability throughout the year, and improve agricultural productivity like never before.

Invest in technological innovations

Although the Government of Bangladesh has allocated a huge budget for agricultural innovations and research & development, the nation needs to facilitate modern farming equipment and machinery to achieve the Dutch level of food independence. Advanced agricultural technology and infrastructure, like improved plows, seed drills, threshers, and greenhouses can boost efficiency and productivity in the near future.

Promote greenhouse farming

Even though Bangladesh doesn’t suffer from extreme weather conditions, introducing greenhouse farming can be beneficial. Greenhouses can protect the crops from pests and other weather conditions, hence, increasing quality as well as production.

Ensure financial support and risk management

Unlike the Dutch, Bangladesh farmers don’t enjoy easy and accessible credit facilities to invest in their farming. The government of Bangladesh should provide comprehensive farming credit facilities so that the farmers can adopt modern farming practices and technologies for efficiency. Introduction of crop insurance extensively can be a key initiative in this sector.

How can Bangladesh be independent in food production and supply?

Bangladesh holds the 14th position globally for the production of primary crop commodities, with a production of 93.3 million tons in 2021.

However, even after producing such a large volume, the nation is still unable to meet the food demand of the people and requires importing food from around the world. But importing means spending a large amount of dollars, which isn’t right for the economy as a whole.

Here are a few ways that Bangladesh can adopt to become independent in food production and supply:

Enhancing agricultural productivity is the key

One of the primary ways to achieve self-dependency in food production is by simply increasing agricultural productivity. Using improved, disease-resistant, and climate-resilient seeds, adopting modern farming techniques, and enhancing irrigation infrastructure can increase agro production significantly.

However, root-level farmers won’t be able to implement such things. The government of Bangladesh and the related parties should take the initiative to provide all the necessary resources to increase food production efficiently.

Adopting sustainable farming practices helps. Sustainable farming techniques like planting diversified crops and integrating plants and shrubs into agricultural land can reduce the risk of crop failure and improve soil health for enhanced production. By ensuring the best practices on the agro farm, Bangladesh can increase the food production and ensure adequate supply.

Implementing smart agro practices can enhance food production

The nation can also become self-dependent on food production by applying various advanced digital technologies and practices in its agricultural operations. Digital practices like internet connectivity, electricity, and proper devices not only give greater control over production processes but also increases efficiency, productivity, sustainability, and profitability significantly.

Allocating more of the budget to the agro sector in Bangladesh

The government of Bangladesh needs to allocate more of its budget to the agro sector to accelerate growth and increase food production than ever before. Even though the government has allocated Tk43,700 crore as agro budget (5.7% of the total budget) with a subsidy allocation of Tk17,533 crore in FY2023-24, they need to make sure that the money is spent right. Providing affordable fertilizers, better seeds, improved irrigation facilities, and other essential materials to the farmers can help the farming process and eventually increase crop production.

Spending more on research and innovation

The importance of research and innovation in Bangladesh’s agro sector is inevitable. Researching and inventing newer technologies, climate-resilient crops, and sustainable agricultural practices can pave the way for the nation to achieve food independence in the near future.

To fuel the research in the agro section, the government of Bangladesh has allocated BDT 16,336 crore for R&D in the agricultural sector so that they can try better and quicker farming techniques for enhanced food production.

Building better roads and highways

Investing and increasing crop production won’t alone bring food independence to Bangladesh. To make the nation self-dependent on food, better roads and highways need to be built all over the country. Improved communication all over the region would definitely make it easier to transport food to every corner of the nation.

Wrapping up

The agricultural sector is crucial to Bangladesh’s economy, but the country still needs an “Agricultural Revolution” similar to the Netherlands to achieve a zero-hunger rate.

Undoubtedly, Bangladesh has improved and increased its agro sector by adopting and implementing newer innovations and technologies. However, the nation’s progress in agriculture still requires significant innovation to reduce dependency on food imports.

By following the agro model of the Dutch, Bangladesh can surely walk towards food independency in the near future. Besides implementing crop rotation, better land and water management Bangladesh must increase investment in agricultural research, promote modern farming techniques, and ensure better infrastructure and financial support for farmers. By adopting these strategies, Bangladesh can achieve sustainable development and greater food security.

Ahmed Shoyeb Iqbal is head of operations at Dhaka Tribune.

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন

Domino’s Pizza unveils 34th restaurant in Uttara’s Jasimuddin

October 1, 2024

by Ahmed Shoyeb Iqbal with No Comment news

The world’s leading pizza company and Bangladesh’s number-one pizza brand, Domino’s Pizza, is expanding its roots in Bangladesh with yet another restaurant launch in Uttara’s Jashimuddin.

Domino’s Pizza inaugurated its 34th restaurant today at GQ Shefali Tower in a grand celebration. Bringing a slice of happiness to all pizza lovers, Domino’s Pizza Jasimuddin is offering a 40 % discount on the first online order for new Domino’s customers until the end of September 2024.

The inauguration event was graced by international delegates from Domino’s Pizza, including Gawaine Wong, International Business Manager—Asia, Middle East, and Africa; Noel Soong, Project Lead, International Analytics and Insights; and Alessandro Cara, International Operations COE Manager, along with other esteemed officials.

The launch event featured a ribbon-cutting ceremony, a slicing activity showcasing a giant pizza. Measuring 3 ft x 2 ft, fun games for kids, and fantastic food for all guests.

Weiking Ng, Vice President of International Business, Domino’s Pizza – Asia, Middle East, and Africa, said for the occasion, “As the largest pizza company in the world. One of the fastest growing Domino’s Pizza markets in Asia. We attribute it to the overwhelming response from the people of Bangladesh. Their patronage inspires us to expand our restaurant network nationwide. And make our global quality, service and experience more accessible through the length and breadth of Bangladesh.”

Gawaine Wong, International Business Manager:

—Asia, Middle East, and Africa. Expressed his enthusiasm for the expansion, “We are excited to bring a wide range of pizza, sides, rice, and desserts to our discerning customers in Bangladesh for all occasions, from celebrations to casual get-togethers and special indulgences. Our commitment to quality and service remains solid as we continue to grow. And expand throughout the country to bring happiness to more Bangladeshis.”

“The Jasimuddin restaurant marks another milestone in our journey of having a Domino’s Pizza restaurant in every residential and commercial area in the country. We hope that more people can enjoy our delicacies and create cherished memories at the new restaurant.” Added Ahmed Shoyeb Iqbal, the Chief Operations Officer of Domino’s Pizza Bangladesh.

As of now, Domino’s Pizza has 33 restaurants in five cities in the country. Dhaka, Chattogram, Khulna, Cox’s Bazar, and Narayanganj. A new restaurant is set to be launched in Sylhet on September 30, 2024.Bangladesh currently employs over 600 people directly.

It also features Oregano Rice Bowl, Saucy & Messy Pizza, a range of Garlic Breads. And other signature dishes, including the iconic Choco Lava Delight.

Founded in 1960, this is the largest pizza company in the world. It ranks among the world’s top public restaurant brands. With a global enterprise of more than 20,900 stores in over 90 markets. To experience the joy of cheesy goodness, order online for home delivery on the Bangladesh app. Available on Play Store and App Store, or directly from the web at m.dominos.com.bd or call 16656.

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন

October 1, 2024

by Ahmed Shoyeb Iqbal with No Comment news

উত্তরার জসীমউদ্‌দীনে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন:

রাজধানীর উত্তরার জসীমউদ্‌দীনে জি কিউ শেফালি টাওয়ারে ডোমিনোজ পিৎজার ৩৪তম শাখা উদ্বোধন করা হয়েছে।

এ উপলক্ষে পিৎজাপ্রেমীদের বিশেষ ছাড় দেওয়া হয়েছে।

আজ সোমবার পর্যন্ত নতুন ক্রেতাদের প্রথম অনলাইন অর্ডারে ৪০ শতাংশ পর্যন্ত ছাড় দেওয়ার ঘোষণা দিয়েছে ডোমিনোজ পিৎজার জসীমউদ্‌দীন শাখা।

ডোমিনোজ পিৎজার জসীমউদ্‌দীন শাখায় মুখরোচক ভিন্ন ভিন্ন স্বাদের পিৎজার পাশাপাশি ওরিগ্যানো রাইস, সসি অ্যান্ড মেসি পিৎজা, বিভিন্ন ধরনের গার্লিক ব্রেডসহ বেশ কিছু মুখরোচক খাবার পাওয়া যাবে, যেমন ভক্তদের পছন্দের চকো লাভা ডিলাইট।

উদ্বোধনী অনুষ্ঠানে উপস্থিত ছিলেন ডোমিনোজ পিৎজার এশিয়া অঞ্চলের ইন্টারন্যাশনাল বিজনেস ম্যানেজার গাওয়াইন ওং, প্রজেক্ট লিড, ইন্টারন্যাশনাল অ্যানালিটিকস অ্যান্ড ইনসাইটস নোয়েল সুং, ইন্টারন্যাশনাল অপারেশনস সিওই আলেসান্দ্রো কারাসহ ডোমিনোজ পিৎজার আন্তর্জাতিক প্রতিনিধি ও দেশীয় কর্মকর্তারা।

ডোমিনোজ পিৎজার এশিয়া, মিডল ইস্ট ও আফ্রিকার ভাইস প্রেসিডেন্ট অব ইন্টারন্যাশনাল বিজনেস উইকিং নং এক বার্তায় বলেন, ‘বিশ্বের বৃহত্তম পিৎজা ব্র্যান্ড হিসেবে বাংলাদেশের ভক্তদের কাছে সুস্বাদু পিৎজা পৌঁছে দিতে আমরা কাজ করে যাচ্ছি।

এশিয়া অঞ্চলভুক্ত দেশগুলোর মধ্যে বাংলাদেশের বাজারে ডোমিনোজ পিৎজা খুব দ্রুত বিস্তৃতি লাভ করছে। ক্রেতা ও ভক্তদের ভালোবাসা আমাদের এই সাফল্যের সূত্র।’

গাওয়াইন ওং এই ব্যবসা সম্প্রসারণে উচ্ছ্বাস প্রকাশ করে বলেন, ‘বাংলাদেশে আমাদের সম্মানিত গ্রাহকদের জন্য যেকোনো উৎসব থেকে শুরু করে নিত্যদিনের আড্ডায় পিৎজা, সাইড মেনু, রাইস ও ডেজার্টের বিস্তৃত সমাহার আয়োজন করতে পেরে আমরা আনন্দিত। আন্তর্জাতিক গুণগত মান ও সেবার নিশ্চয়তা দিতে আমরা অঙ্গীকারবদ্ধ এবং আরও বেশি মানুষের মুখে হাসি ফোটাতে আমরা সারা দেশে ব্যবসা সম্প্রসারণ করে যাচ্ছি।’

ডোমিনোজ পিৎজা বাংলাদেশের চিফ অপারেটিং অফিসার:

আহমেদ শোয়েব ইকবাল বলেন, ‘দেশের প্রতিটি আবাসিক ও বাণিজ্যিক এলাকায় ডোমিনোজ পিৎজার শাখা চালুর লক্ষ্যে এগিয়ে যাচ্ছি।

জসীমউদ্‌দীন রোডে নতুন শাখা উদ্বোধনের মাধ্যমে এই যাত্রায় আমরা আরও একধাপ এগিয়ে গেলাম।

বাহারি স্বাদ, দ্রুত ডেলিভারি আর সাশ্রয়ী দামে বিশ্বমানের পিৎজার অভিজ্ঞতা নিশ্চিত করে ভক্তদের মন জয় করে নিয়েছে ডোমিনোজ পিৎজা।

আমাদের প্রত্যাশা, এখন আরও বেশি ক্রেতা ডোমিনোজ পিৎজার সুস্বাদু খাবারের সঙ্গে নিজেদের প্রিয় মুহূর্তগুলো স্মরণীয় করে রাখবেন।’

বর্তমানে ঢাকা, চট্টগ্রাম, খুলনা, কক্সবাজার ও নারায়ণগঞ্জ—এই পাঁচটি বড় শহরে ডোমিনোজ পিৎজার শাখা আছে।

আজ থেকে সিলেট শহরেও যাত্রা শুরু করতে যাচ্ছে ডোমিনোজ পিৎজা।

ডোমিনোজ পিৎজা বাংলাদেশ বর্তমানে সরাসরিভাবে ৬০০ মানুষের কর্মসংস্থান করছে।

বিশ্বের অন্যতম বৃহৎ পিৎজা কোম্পানি ডোমিনোজ পিৎজা প্রতিষ্ঠিত হয় ১৯৬০ সালে।

৯০টির বেশি দেশের বাজারে ২০ হাজার ৯০০টি দোকান পরিচালনাকারী এই ব্র্যান্ড বিশ্বের শীর্ষ পাবলিক রেস্টুরেন্টগুলোর তালিকায় অন্যতম।

‘ডোমিনোজ পিৎজা বাংলাদেশ’ শীর্ষক অ্যাপের মাধ্যমে গ্রাহকেরা ঘরে বসেই সহজে পিৎজার অর্ডার করতে পারবেন।

এ ছাড়া m.dominos.com.bd ওয়েবসাইট থেকে সরাসরি অর্ডার করা যাবে। ১৬৬৫৬ নম্বরে কল করেও অর্ডার দেওয়া যাবে।

The Big Picture of Online Education Business

July 29, 2024

by Ahmed Shoyeb Iqbal with No Comment publications

The pandemic was dreadful Business, but one of the best things that drastically improved was online education. Looking back, in the last two decades, the Internet has evolved into the world’s largest and most accessible database of information.

Apart from online shopping, e-commerce, and every other thing the Internet blessed us with, it also transformed people’s perspectives on online education and training. Online schooling is transforming the look of traditional classroom settings and making education easier and more accessible than ever before.

As a result, many EdTech startups are gradually developing. Though many success stories are written about them, no one usually talks about the big picture of their business.

Evolution of online education

Online education, also known as e-learning, m-learning, computer-aided distance education (or CADE), is very popular these days. Who doesn’t want to save money, time, and energy, right? Thanks to online education, students may learn from anywhere with internet and electricity connections.

Globally, schools were closed due to the Covid-19 pandemic. Over 1.2 billion students from 186 nations were out of the classroom. As a result, education has evolved tremendously, with the emergence of e-learning, where instruction is done remotely and fully digitally. Some wonder if the acceptance of online learning would continue post-pandemic and how such a transition might affect the global education sector. Let’s look at some data regarding this.

Global EdTech investments reached$18.66 billion in 2019, and the whole industry for online education is estimated to reach $350bn by 2025. Since Covid-19, the utilization of language apps, virtual tutoring, video conferencing, and online learning software has increased significantly.

Pre-pandemic and post-pandemic world

Prior to Covid-19, distance education was growing slowly but steadily. In 2018, 34.7% of college students took at least one online course, up from 33.1% in 2017. People are now following this online education trend as it is ROI driven. For instance, people, after completing their undergrads, get into jobs, and it becomes difficult for them to balance work and higher studies.

That’s where the EdTech companies are also focusing on; flexibility, affordability, and domain specific skills. Another positive aspect is that earlier, we all had to go through a system of learning, for instance, primary school, secondary, higher secondary, university, and even work and higher studies.

But the concept of education is now broadening thanks to different EdTech platforms, boot camps, and trainings, resulting in lifelong learning and skills development. Children are also now learning coding and robotics.

Major players of online education in the international markets

The market is flooded with online learning platforms that serve millions of people. While Skillshare caters to creatives with animation, photography, and lifestyle courses, Coursera caters to academics with university courses. The world’s top universities are also democratizing education by offering online courses.

Both Stanford and Harvard offer online courses in computer science, engineering, mathematics, business, art, and personal development. All of this shows that people want to learn online.

The rapid change of the world may be the reason for the high demand and rapid market growth. Udemy president Darren Shimkus says, “The biggest challenge for learners is to figure out what skills are emerging, what they can do to compete best in the global market.”

Let’s look at some of the popular EdTech platforms and their features.

edX

Founded by Harvard and MIT
2,500+ online courses for free
About 145 of the courses are from Harvard, ranging from public health to history to programming and poetry
These classes are free to audit, but you can pay $50-200 for features like graded homework and completion certificates for your resume or LinkedIn profile

Coursera

An online learning platform with lecturers from prominent colleges including John Hopkins and Stanford
There are over 4,300 courses, 450 specializations, 440 projects, and 20 degrees available on Coursera’s website
Due to the pandemic, platform users grew by 66% in 2020

Udemy

Over 40 million students, 70,000 teachers, and 155,000 courses offered in 65 languages
It is an open marketplace where anyone can build a course
Students and instructors from over 180 countries have enrolled in over 480 million courses

Capturing the EdTech market

The Indian EdTech ecosystem has also matured. According to KPMG, India has around 3,500 EdTech startups, and these Indian EdTechs have already made a mark on the global EdTech market. In 2020, Bengaluru-based Byju’s became India’s third decacorn and the highest valued unicorn at $16.5bn.

By 2018, US EdTech businesses had raised $1.45 billion. Moreover, 44.1%, equivalent to $16.34bn, of global investment in EdTech in 2018 came from China. The Chinese EdTech sector has grown exponentially, with 423 million online education users in March 2020.

By January 2020, a few EdTech companies were worth over $1bn. According to the EdSurge financing database, the US EdTech industry raised approximately $2.2bn in 130 acquisitions. Globally, EdTech investment is expected to reach $8 trillion by 2025.

Company	Country	Last Round Type	Valuation
ByJu’s	India	$350M Series F	$16.5B
Yuanfudao	China	$300M Series G Top Up	$15.5B
Zuoyebang	China	$1.6B Series E+	$10.0B
VIPKid	China	$150M VC/PE Round	$4.5B
Articulate	United States	$1.5B Series A	$3.75B
Unacademy	India	$440M Series H	$3.4B
Udemy	United States	Series F Top Up	$3.3B
Emeritus	India	$650M Series E	$3.2B
ApplyBoard	Canada	$300M Series D	$3.2B

Financial and non-financial benefits

Online education is frequently less expensive to students. Online programs eliminate the need for expensive campus accommodation, transportation, and other expenditures such as student fees, gyms, computer laboratories, etc. Hence, an online student can save hundreds of dollars per month.

However, EdTech platforms made creating and selling courses more effortless than ever. Many of the tools and equipment required to develop a course are easy to use and produce excellent results. Online courses also provide a passive income source. Creating and selling a course can help you financially business.

If your course is online, you can have students from any time zone. However, quality online courses take time to prepare. Your success depends on the demand for your course and your ability to attract your target market. Unfortunately, it’s difficult to optimize your profits while keeping your course cheap for students.

Looking on the bright side, online learning provides teachers and students greater convenience, access, and flexibility. It also makes classrooms more engaging. Many teachers indicate that students perform better in online courses. Online courses that are well-run tend to boost student retention and satisfaction. Online education also reaches a large audience. These classes are not age, class, or location restricted.

On the other hand, for teachers or trainers who have been using traditional teaching methods for several years, learning about online learning may be difficult and complex. Online learning does not necessitate significant technical abilities, but participants must be comfortable using computers and the internet. Slow internet can also be frustrating, especially in rural locations for business.

What are the challenges?

The EdTech market is bound to have some competition. The providers must fight for the right to sell their products to customers. The most notable examples include technological challenges in education due to a lack of funding. And this is in a market where potential demand far outnumbers supply, with millions of schools, thousands of colleges, and universities waiting for the right time to upgrade technologically.

There are also contentious EdTech business issues, such as whether scaling or monetization should be the top priority for providers in the field. Investors prefer to work with long-standing, established businesses that can consistently generate consistent profits.

As a result, the scale-first-monetize-later business development strategy is becoming more popular in the field. Some of the other challenges include a long sales cycle, limited budget, over-saturated market, slow-moving in accepting innovation, non-sustainable monetization model, achievability for non-technical users, finding competent tutors etc.

Bangladesh in EdTech

EdTech is currently thriving in Bangladesh. 10 Minute School is a Bangladeshi EdTech pioneer. The company tested an EdTech operation in Bangladesh in 2014. The company was founded by Ayman Sadiq as a YouTube channel. It quickly evolved into the country’s most popular EdTech company.

Many EdTech companies have arisen; some have acquired financing, gained traction, and begun expanding. Tracxn and Crunchbase estimate that at present there are 90 EdTech startups in Bangladesh. Let’s look at some of the popular ones.

10 Minute School

Offers online video lectures for students in grades 1–12, university examinations, IELTS, and GRE prep
Has 1.79 million subscribers
20,000 video tutorials and 50,000 quizzes,
The 10 Minute School mobile app has been downloaded over a million times

Interactive Cares

Launched in 2019
Includes over 40 courses and 30,000 students
They have courses on Python, JavaScript, Django, Full Stack Web Development, IELTS, GRE
Launched Complete Preparation on ISSB, a military training course
Raised seed funding through BYLC Ventures’ start-up accelerator program

Shikho

Launched in 2018
Have 80 animated video lessons totaling 700 minutes, 3500 questions and answers, 700 notes, and 1000 illustrations for SSC General Mathematics business
Raised a pre-seed fund of $175,000 in December and a seed investment of $1.3m in July, the greatest money collection for a Bangladeshi EdTech business

Upskill

Debuted in Bangladesh in 2016
Bridges the technical skills gap between job seekers and employers
Offers over 34 video lessons for Tk3,000 per year
Upskill Library now has over 22 certified trainers
The company raised over $100,000 in seed capital in February 2021

However, in Bangladesh, we don’t really have enough online courses and platforms for the kids compared to college and university-level students. This gap can be reduced if more platforms take initiatives for kids.

Now, what might the future of the EdTech community in Bangladesh look like? Well, in the first half of 2021, Bangladeshi Edtech startups raised approximately $2m. Edtechs had a 5% market share in the education market prior to the pandemic, and it is expected to increase to 10% after the pandemic. Experts predict that the market for Edtechs in Bangladesh will reach 700 million USD by 2025. In the near future, this rapidly growing industry is expected to be the torchbearer of the Bangladeshi start-up community.

The future of EdTech industry

Tech-based learning is the future of education. Establishing an effective environment that helps learners develop industry-relevant skills was previously optional, but now it’s possible just by a few clicks. This pandemic has demonstrated how useful and necessary online learning tools are; when the world came to a halt. Hence, online EdTech companies were highly benefited as their products became popular and also a necessity to the students.

Because of the sudden demand for online education, experts in education and learning believe the EdTech industry will only increase in the coming days. Entrepreneurs will use technology to develop highly tailored learning opportunities, make education available to all, and scale the industry in new and unexpected ways. EdTech has the potential to fundamentally alter education as we know it.

From 2010 to 2019, EdTech VC investments grew to $7bn. HolonIQ predicted $87bn in VC funding over the next decade (2020-2029). So far in 2021, EdTech VC funding has reached $26bn with $10bn in the first half. So the initial $87bn prediction may reach $200bn by 2030. A $10 trillion global EdTech market is expected by 2030, according to HolonIQ. China leads the world in VC fundraising, with over 50% of funds raised, followed by the US and India. Check

We can all agree that the transition from onsite to online learning was inevitable. However, after seeing the above data, we can all believe that we will still continue using online platforms to make learning effective and useful.

Conclusion

David Warlick said, “We need technology in every classroom and in every student and teacher’s hand, because it is the pen and paper of our time, and it is the lens through which we experience much of our world.” I hope by now we all know the importance and the future of the EdTech industry. Last but not the least, we all must be welcoming to the new changes and new innovations.

Meena Bazar Brand, and Meena Bazar’s eCommerce Strategy With Ahmed Shoyeb Iqbal, GM, Brand, Communication, and Business Development, Meena Bazar

July 29, 2024

by Ahmed Shoyeb Iqbal with No Comment publications

Meena Bazar Brand, and Meena Bazar’s eCommerce Strategy With Ahmed Shoyeb Iqbal, GM, Brand, Communication, and Business Development, Meena Bazar

Ahmed Shoyeb Iqbal, General Manager of Brand, Communication, and Business Development, Meena Bazar, on Meena Bazar’s brand and communication strategy, Meena Click and Meena Bazar’s eCommerce ambition, digital payment, the business of retail, and the art of marketing and communication.

Future Startup

Thank you for agreeing to do this interview. What is your background and what are you working on?

Ahmed Shoyeb Iqbal

I have been working at Meena Bazar for almost nine years now. Previously, I worked at Grameenphone. After leaving GP and before joining Meena Bazar, I went to the UK to do my MBA from the University of London where I studied Marketing Management. I returned in 2009 and joined Meena Bazar.

Meena Bazar, a relatively smaller retail chain at that time, was at the beginning of a new phase. The company had already conceived an expansion plan.

Although I studied Marketing Management, initially, I joined in a different role in the training and development department as Manager, Training, and Development.

We had about seven outlets at that time. Overall supermarket business was a nascent concept in Bangladesh. In fact, the age of supermarket business in Bangladesh is about 18 years. The people with domain expertise in supermarket business was in short supply. Hence, training and development was an important department for Meena Bazar in order to scale the business.

The department was responsible for preparing and improving the skills of salespeople and store managers, which was particularly critical during that formative phase.

Since I had foreign exposure and a degree in Marketing Management, I used to train staff and store managers on customer service, developing customer service framework, working on different modules and other relevant aspects.

After working for a year in that department, I moved to my core function which is brand and communication. I started as Manager, Brand, and Communication for Meena Bazar. Currently, I look after the Brand, Communication and Business Development as General Manager.

I work with different vendors such as Pran, Unilever, GSK, Shajeeb, and others to launch joint promotional campaigns.

Most of the promotions that you see from us, such as 10% discounts on a particular product or 5% on another, these are not our promotions per se, these discounts come from our vendor partners. We ensure that it reaches to our customers so that they purchase these products.

One of my responsibilities is to bring these sorts of communications by working with our partners.

Generally speaking, we have two priorities at brand and communication department at any given time. One is to increase footfalls in our stores which means growing the number of customers visiting our outlets daily; and secondly, increasing the basket size of our existing customers through offers and promotional campaigns.

Apart from regular communication works, we also look at how we can build the lasting relationship with our customers. Over the past years, we have successfully introduced Meena Bazar Club Card, a membership platform for Meena Bazar customers where we currently have over a hundred thousand members. We launched it in 2012. It has been growing consistently since then.

We also launched Meena Bazar website, www.meenabazar.com.bd, in 2012. We were the first grocery chain in the country to launch a fully dynamic e-commerce website in Bangladesh. Our ecommerce endeavor has evolved over the years. Recently, we’ve rebranded our ecommerce platform to www.meenaclick.com.

Besides Meena Bazar, our parent company, Gemcon Group, operates another retail chain called Gourmet Bazar. I and my team also look after the branding and marketing of it.

We have two Gourmet Bazar outlets: one at Banani and another at Gulshan. Both of the outlets are very well received. Our Banani Gourmet Bazar has a community-centric positioning. We have been able to establish it as an event-based, community-centric outlet. It has a nice coffee section, a grocery section and it attracts different types of people. On the other hand, our Gulshan branch has made its mark as a premium grocery shop.

These are some of the things that we do. Apart from these, there are regular campaigns and promotional activities. There are a lot of events these days that warrant for our attention. We also run event-specific promotional campaigns.

As a supermarket, we sell products of other brands. We do have some home brand or private label brands such as tissue, water, and a few others, but mostly we aggregate brands. Bring them under one roof and in the process offer convenience to our customers. Consequently, when it comes to communication, we often require to walk a tightrope and find a balance that serves my purpose as well as delivers the result.

Digital Disruption and Its Impact on Business

July 29, 2024

by Ahmed Shoyeb Iqbal with No Comment publications

Digital Disruption and Its Impact on Business:

By Ahmed Shoyeb Iqbal

Imagine you are in a super shop queue to pay for the things you bought. Did you ever notice all the products you buy from a super shop are scanned by a bar code reader? Super shops use barcodes to keep track of all in-stock and out-stock products and quickly generate the invoice and checkout. The benefit of using a barcode is if a product is less than a certain number, for example, 10, a notification or alert message will directly go to the manufacturer to send over the product before it stocks out. Amazing, right?
This is just one example of digital disruption that’s happening around us. If you look carefully, you’ll notice a lot of such examples. From super shops to the telecom industry, garments sector, mobile banking, digital payment platform, you name it, you see it! Like with time, the human race is evolving, and we’re moving towards a digital future. And digital disruption is one of the first steps towards moving to a digital future! By definition, digital disruption is an effect that changes the expectation and the operations in an industry, market, or process caused by digital assets and capacities.

Digital disruption might be helpful or harmful depending on the type of business and other associated factors; while some companies can be benefitted, others can be affected. And it is applicable for both SMEs and big players. The main game is when you can take advantage of the disruption and act accordingly.

So, if you are an entrepreneur looking for ways to save your business from digital disruption, or you are here to know how you can take advantage of this disruption, then you are at the right place!

Traditional vs. Digital business model

Before we jump into the advantages of disruption, let’s look at different types of business models first. For an entrepreneur, it is tough and challenging to run a business. But for now, I would want you to take a minute and imagine being a customer. Keeping in mind the current pandemic situation, you would like to shop, order, even pay bills online, right?
So, if you go back to being an entrepreneur, which business model would you prefer? I hope you have found the answer to your question!
Traditional Business Model
Organizations with any kind of office setup and selling products and services through physical stores fall under Traditional Business Model. In a traditional business model, the role of manufacturer, distributor, and the retailer is significant. Here, B2B and B2C models are followed to make the business smooth.

Is Bangladesh Ready for the Digital Future?

July 29, 2024

by Ahmed Shoyeb Iqbal with No Comment publications

Is Bangladesh ready for the digital future?

Imagine feeling hungry, but you don’t have any food at home. You can order food from Food panda or order groceries from Chaldal.com. This was not even imaginable ten years back. Thanks to digitalization and the rise of such e-commerce, everything is possible with a few clicks!
The term ‘digital Bangladesh’ is a familiar concept for all of us living in Bangladesh. Everyone is familiar with this term, from a primary school student of Dhaka city to a child from a rural area. We have heard and read about it a lot, be it on the TV, radio, newspaper, or even our textbook. How many of you have memorized an essay entitled “Digital Bangladesh” in your school? I bet the answer is many.
However, by constantly hearing or reading something every other day, we tend to ignore its impact. For example, most of us use Wifi these days, whenever the network connection becomes poor, we get furious, right? But do you remember the time when we used a “modem” for using the internet? Or the time when load-shedding was a common thing and the struggles associated with those nightmarish hours? I hope now you realize how digitalization is making our life easier and better.

Digitalization has impacted not only on technology enhancement but also the socio-economic development of our country. Even during the covid-19 pandemic, everything developed rapidly.

Working from home, online shopping, paying bills, everything has become a lot easier now. Look at all the e-commerce that’s expanding! But if we compare ourselves with other developed countries using AI, robots, faster internet speed, we still have a long way to go. Now the question arises, is Bangladesh ready for the digital future?

Organizational structure & challenges

The organizational structures and challenges play an essential role in digitalizing a country. We are all aware that Bangladesh has a bureaucratic system in most private organizations, not just public ones. Even though the situation has been changing with higher exposure to technology, the speed of change is not as rapid as in many other countries. In all countries, employees traditionally resist change, but bureaucratic cultures further associate this tendency.

Whenever the discussion of digitalization comes in, change is inevitable. Hence, it challenges not just the processes but also the status quo and the layers of organizational hierarchies, which many people are not in favor of. For instance, digitalization can reduce the need for middle managers, enabling more direct communication through lesser channels. This scenario can culminate into strong organizational resistance and have to be handled with sensitivity and caution.

For instance, we can learn from The Development Bank of Singapore Limited (DBS Bank) one of the largest banks in Southeast Asia. This bank has shifted their entire organizational structure to “digital technology as an infrastructure platform for growth and to accelerate the pace for the tech savvy Asian customers”. They believe that in the future, people won’t need a bank but they will surely need banking. Hence, they merged their technology and operations into one and the team lead directly communicated with the CEO for better and faster outcomes. This also reduced the level of bureaucracy. They also designed a platform for their employees and customers to give feedback, which they discussed in their meeting to make their services better.

Now the question is, is it possible to implement this in Bangladesh? Definitely! But digitalization has to be implemented with people’s enthusiastic contribution and participation to be effective, not by forcing it on people. Also, the challenges need to be considered and handled appropriately, giving the people in an organization the time and space to adapt. People are also skeptical about shifting towards a technology-based system because of privacy and safety concerns which needs to be ensured as well.

Business nature

There are immense benefits of digital transformation to improve a service or a product. Digitalization affects the systems, workflow, and everything by bringing together data from each level of the company and making their goal effective. With the help of AI and machine learning, organizations can help a customer according to their preference, which was unimaginable in the past.
However, the companies undergoing digital transformation measure their digital initiatives’ success rate like they used to measure ROI from previous projects. ROI varies from one digital program to the other, but some benefits are always interrelated or interdependent. The benefits include increased efficiency and productivity, resiliency, resource management, better customer experience, agility, responsiveness, increased revenue, stay relevant, and many more.

Some services in Bangladesh can progress with digital transformation. For example, buying train tickets online. Though the system exists, it is somewhat faulty. It needs to be more user-friendly so that the customers don’t have to print the ticket to get on the train. Financial security has always been an issue in our country.

Though digital financial services like Bkash, Nagod, etc., are becoming popular, many people still do not completely trust the concept. Businesses should create more awareness to ensure the security of the customer and to encourage them to use more features than just “Send Money” and “Cash Out”.

Industries have an excellent opportunity for digital transformation. They can reduce the cost, produce better quality, add value and streamline processes to reduce the waste of resources. All these are possible if proper transformation takes place.
AHMED SHOYEB IQBAL