Bangladesh’s economy is heavily reliant on the garments industry. The export of garments items accounts for the majority of the country’s foreign remittance. While Bangladesh marks its 50th anniversary of independence, the world’s attention is drawn to the country’s amazing economic and social growth in the past few decades. Considering the losses caused by the COVID-19 outbreak, the South Asian country is on track to becoming a middle-income country in the upcoming years. In the clothing sector, technology is proven to be a game-changer. From production to marketing, technology has become a need rather than a luxury. As a result, Bangladesh is undergoing a rapid technological revolution at both the industry and organizational levels.
Online Presence After Covid – 19
Bangladesh, the world’s second-largest garment exporter, has yet to build a virtual platform to promote its products and link global buyers and customers with local producers, which is an irony. Apparel producers are exclusively reliant on a conventional brick-and-mortar system in the lack of such a common platform, despite the fact that we as a country talk about constructing “digital Bangladesh.” In order to stay competitive in the global sourcing supply chain, a rising number of readymade garment (RMG) factories in Bangladesh are adopting digitization and automation in the production process to cut costs, enhance productivity and shorten lead times, among other things. The online presence has had a huge influence on our daily lives and businesses. Since the advent of this technology, enterprises have been coming online one after the other, and then Covid-19 enhanced the speed of digital transformation, resulting in a surge in the online and e-commerce industries. The major impact of the pandemic on Bangladesh’s ready-made garments (RMG) sector was the shutdown and the ensuing announcement of the bankruptcy of well-known brands and shops. Bangladesh’s garments sector has faced significant hurdles as a result of the pandemic impact and global market developments. The industry will have to update, diversify and innovate while also spending on employee welfare, infrastructure, mobility, and sustainability.