Factors Driving Growth of Bangladesh's Furniture Industry

Factors Influencing Growth of the Furniture Industry
Furniture industry is essentially an ever growing industry that requires employment of variegated
raw materials in quite large proportions. The range of the materials includes wood, wood base
panel, leather, glass, plastic, metals and textiles and many more. The furniture is manufactured in
various types, size, shapes, colour combinations (such as sofas, chairs, wardrobes, mattresses,
kitchens etc.) to serve different purposes like schools, institutional, offices and residential.
Bangladesh furniture is manufacturing and exporting high level of quality furniture in terms of
design, fashion and technology. Bangladesh furniture has a strong image all across the world.
However, a large segment of furniture is imported from various foreign countries as well. The
Bangladesh furniture industry generates a turnover of Rs 3,500 crore annually. Eighty five per
cent of the industry falls under unorganized sector and remaining fifteen percent is under formal
sector, made up of manufacturers and exporters catering to the different segments of the industry.
The market of wooden furniture solely owns the share of nearly Rs 60 crore. According to a
recent study, the industry is expected to grow by 20 per cent in coming time.
Main Factors
The concept of good living and better lifestyle is fast catching up middle class’ mentality of
Bangladesh. Interior designing is no longer confined to rich and wealthy Bangladesh. Even
middle class people do not mind paying an added buck in getting their homes decorated with
modern and designer furniture. These factors have resulted to a boom in decor industry
especially when it comes to furniture. It is no more a surprise that foreign manufacturers are
making huge investments in the furniture industry of India along with Bangladesh furniture
manufacturers and exporters. Globalization has impacted a lot and this leads to the growth in
demand of furniture. Media also plays a vital role in making people learn about good living. In
conclusion, below mentioned four categories are the factors for the rise in furniture industry;
 Architects
 Builders
 Interior Designers
 Participation in Furniture Trade Fairs for increased exposure
In addition to the major segments such as households, offices and schools, furniture is high in
demand if we take other sub-categorized segments like Kitchen, Bathroom, Bedroom, etc. into
consideration. According to a recent survey, there is an increase of 38 percent in home
improvements and 37 percent increase is observed in leisure holidays, which shows two pursuits

of Bangladesh consumers willing to put huge sum to fulfill furniture requirements. This has led
many leading foreign brands to make their genuine inception in Bangladesh industry via
domestic retail outlets. Some of the big players in the Bangladesh furniture industry are Otobi,
Navana, Hatil, Akhtar, Partex, Brothers etc. to name a few.
Furniture Industry of Bangladesh
Traditionally furniture industry in Bangladesh developed as cottage based industry. It is in 90’s
when the furniture industry in Bangladesh has transited from cottage based industry to
mechanized mass production oriented industries. Following that the furniture businesses began to
grow accommodating modern machineries, innovative designs and use of diverse materials.
Furniture industry of Bangladesh is shifting its focuses from dependency on teak for raw
materials to processed wood .
The main varieties of products are wood, processed wood & Medium Density Fibre board
(MDF), and laminated board, particleboard, rattan/bamboo and wrought iron furniture. For a
more personal domain as one’s home, the preferred raw materials still remains solid wood, but
combination of solid wood with other materials like cane, rattan, laminated boards, plywood and
MDF are becoming very popular. But for offices furniture designs are usually focused on the
more contemporary style and the preferred use of materials include plastic, MDF, laminated
boards and wrought irons. Around 70% production of furniture sector of Bangladesh is home
furniture and 30% is office furniture.
One of the key strengths of the local furniture industry is diversity in product portfolio .
According to CSIL (Centre for Industrial Studies), Bangladesh has a strong potential in linking
home décor craft items with the furniture industry. The export of furniture products from
Bangladesh started from 1995. It is estimated that, by 2015 Bangladesh has export potential of
crafts furniture accessories worth of USD 10 million along with furniture worth USD 40 million.
The potential can be materialized through exploiting low labour cost which is a vital factor in
becoming competitive in the world market. In wood furniture manufacturing, labour accounts for
up to 40% of the total costs. In Bangladesh labour costs account for 20% of the production. Here,
the hourly wage rate in furniture is between $ 0.06- 0.40, less than in China ($0.50- 0.75) which
is the largest furniture exporting country .
At present two relevant associations i.e., Bangladesh Furniture Export Association and
Bangladesh Furniture Industries Owners Association (BFIOA) are actively working on

materializing the potential of this sector. Bangladesh Furniture Export Association has 19
members.
Profiles of Furniture Industry In Bangladesh
Government of Bangladesh has declared the furniture industry as a ‘Thrust Sector ‘. The sector’s
contribution to GDP (gross domestic product) is 0.29 percent on average, while the industry is
comprised of around 41,560 enterprises and employs nearly two lakh skilled and semi-skilled
people .
According the officials of Bangladesh Furniture Industries Owners Association (BFIOA)There
are 28,000 furniture factories in Bangladesh (including all SMEs) among them 1,952 companies
are registered member of furniture owner’s association. However, according to the baseline
survey of furniture industry in Bangladesh by Dr. Ali Nesar Khan (2011), there are a total of
9,913 wooden and 2,628 non wooden furniture manufacturers in Bangladesh employing around
1,19,810 workers. Also there are around 74,926 carpentry households employing another
1,54,285 workers. Adding to this, there are 1,20,000 craftsmen producing soft furniture and
200,000 suppliers supplying raw and semi-processed materials. Out of this huge employment,
almost 1,00,000 workers are women . Among the employees working in furniture sectors, 20%
are working in large industries and 80% are working in SMEs . There are a number of furniture
clusters in Dhaka which are located at Badda, Sutrapur, Mirpur area of Dhaka. A number of
large companies have their factory in Savar and Gazipur area. Number of large companies is few
compare to the total number of furniture industry in Bangladesh. There are 15 large Furniture
companies are doing their business in the country which includes Otobi, Navana, Hatil, Akhtar,
Partex, Brothers etc .
Table 1: Average sales and profit among different classes of furniture manufacturer.
Firm size Numbers of
Enterprise
Average
Annual Sales
(BDT)
Gross
Profit
(%)
Net Profit (%)
Micro 7,961 1,877,400 21.6 9.87
Small 1,676 5,118,333 25.74 12.41
MSM 2 276 8,571,429 29.67 14.67
MSM 1 40 19,350,000 32.10 15.1
Large 35 104,100,000 35.80 15.8

In both local and international market, the growth of Bangladesh furniture market is evident. The
booming real estate sector in Bangladesh and the rising demand of furniture product in world
market, lead the expansion of furniture sectors in Bangladesh. In fact, the demand is so elevated
that the demand supply gap is evident in Bangladesh. While the industry is growing at a rate of
9.55%, the demand for furniture is increasing by 20%. Local production for furniture of USD
958 million along with USD 16.84 million imports. Bangladesh earned $19.26 million from
exports of wooden furniture in fiscal 2009-10 . Local manufacturers export to the US, Canada,
Australia, UK, Middle East, Gulf countries, and other Asian countries, like India, Japan, Taiwan,
Singapore, Thailand and Vietnam .
An analysis of EPB data since FY2006-2007 indicating 53.55% decrease in the export of soft
furniture over a period of last four years and this decrease is due to the lack of design and
technology research, lack of initiatives to promote this industry and keep abreast with other parts
of the world . Nonetheless, according to Bangladesh Furniture Industries Owners Association
(BFIOA), real export is much higher than (20% higher) than the official figure.
About 60% of raw materials of furniture sector are imported from different countries. Around
65% of wood comes through import. Most of the tic, gamar and hard wood come from Africa;
oke wood and barmatic wood come from Myanmar. Around 100% of Wood coating and lock,
60% of ply board, 20% of particle board, 50% of adhesive is imported .
Table 2: Trend of export and import in furniture sector (soft furniture) of Bangladesh (Unit: US$
million)
FY 2006-2007 2007-2008 2008-2009 2009-2010
Import
Export
8.16 5.49 4.44 3.79
Source: Export data has been compiled from http://bfidexpo.com/furniture_association.php
(accessed on 15 May 2012),

According to Bangladesh Furniture Industries Owners Association (BFIOA) one of the
difficulties that the association (and government) currently faces is that maximum companies do
not declare their real amount of sell; and that is why the figure of real trade volume is not
available to the association or government for effective policy formulation. In addition to such
problem, industries of this sector are also facing shortage of land. In the past, Furniture industry
association demanded to have enough land so that an industrial cluster can be established where
at least fifty companies can be accommodated. Though specific land was allocated in Kachpur
area of Narayangonj district, the amount of land was quiet few (around 20 acre) compare to the
Association’s original demand. In the end, land was not given to furniture association. However,
a new location has been identified near Faridpur area where amount of land is much higher than
land area of Kachpur area.
Furniture associations of Bangladesh participated in several fairs in Japan. Recent fair in Japan
took place 2008; but the outcome of that fair is not as expected. One of the main reasons is the
weakness of design of furniture products manufactured in Bangladesh. Therefore, this area needs
much consideration for positive intervention. At the same time more marketing development in
outside Bangladesh is necessary .
At present, there are no rules and regulation addressing standard of products from furniture
sector is available. Hence, for effective export promotion of furniture product, it is necessary to
maintain certain standard. In this regard, Katalyst, a foreign donor agency, is working on the
development of furniture sector of Bangladesh. Moreover, the agency is also giving support to
the sector in terms of market exploration and development. But their assistance is very short term
and has no direct connection with the association .
Furniture industry is facing face shortage of wood supply from domestic forest. This is one of the
great threats to the industry. To confront the constraint, initiatives have been taken both from
government and from some private companies. In addition to that, Furniture Associations
regularly organize programs to encourage people for tree plantation. The association also
demanded to the government to lease certain amount land for tree plantation. Another severe
problem which the industry is facing is shortage of electric supply which forced factories to
maintain generator. As the cost of fuel of generator is getting higher, the production cost is going
up .
There is no tax incentive for export of furniture product at the moment. However, the industry is
discussing with EPB so that tax incentive can be applied to the sector. Under the circumstances,

EPB has given certain export target to this sector, which the association expects to achieve by
this year.
Akhtar Furniture Acadamy is the first and only private institute that provides education
exclusively on furniture. The institute commenced on January 2012 and at present the institute
has facility to train student on furniture manufacturing, marketing, general education (like
English course) and technical courses (like driving, electrical instrument repairing, electronics,
computer education etc). The institute has planned to expand its branches in coming years
(Targeted number of branches by year is: 6 branches within 2013, 64 branches within 2016 and
finally 364 within 2020). Though the institute at present concentrates on short length courses
(three to six months), it has planned to start four diploma courses also. The institute has applied
for approval from Bangladesh Technical Education Board and hope to have the approval within
June 2012. The authority of the institute has a plan to convert the institute into a well-functioning
polytechnic institute in near future.
Major Furniture Industry in Bangladesh
 Otobi Limited
Otobi is one of the pioneers in furniture industry in Bangladesh. At present, Otobi has the widest
distribution network all over the Bangladesh, including over 400 retail outlets, exclusive dealers
and franchises. Otobi has now franchise in Kolkata with distribution centers in sic cities in India.
Basic information of Otobi Limited
Established 1975
Product profile
Wooden, Melamine Laminated Chip Board, MDF,
Cane and Metal furniture.
Annual production
volume
BDT 6,600,000,000
Countries exported to India
Potential export
destination
Africa, Canada, Middle East, UK, USA.
Source: Booklet of Bangladesh Furniture St Interior Decor Exposition 2012;
available athttp://www.bangladeshconsulatela.com/docs/Booklet_bfidexpo-
2012.pdf

With an opening capital of just Tk 5,000, Nitun Kundu, a graduate of fine arts, starts the business
Dhaka in 1975. At present, It has 300,000 sq ft factory in Mirpur, Dhaka. Otobi is the first
Bangladeshi company to become global. Otobi builds its flagship 42,000 sq ft retail store in
Gulshan, Dhaka .
At present, Otobi furniture can be considered as market leader due to their immense market share
of the branded market (80%). During last three years, Otobi is having double digit growth in
terms of annual sales . Otobi’s products range office, household, and hospital furniture to
specialized furniture like kitchen cabinets, built-in cabinets and workstations. Otobi employs
over 5,000 people in it’s corporate office and manufacturing plants.
 PARTEX Furniture Industries Ltd.
PARTEX Furniture Industries Ltd. is a concern of Partex Star Group of Bangladesh. PARTEX
Furniture manufactures solid timber and timber-substitutes products. The industry offers a
combination of timber, special particleboard, and decorative plywood. Within a short span of
time the company has been able to claim a sizable portion of the market. At present, the
production area of the company is about 162,000 sft and the company is building a new factory
of area 3,50,000 sft. Around 1200 skilled manpower are currently employed in this company.
The company has strong backward integration for their furniture production as their sister
concerns produce Particle Board, MFC board, Filled / Flush Door, Plywood, Veneered Board,
PVC Sheet & Door etc .
Basic information of PARTEX Furniture Industries Ltd.
Established 1991
Product profile
Wooden furniture, Laminates Board furniture,
Upholstery (Tubular Metal) furniture, Steels and
Metal furniture.
Annual production
volume
BDT 1,500,000,000
Potential export
destination
Middle East, UK, USA.

 NAVANA Furniture Limited
NAVANA Furniture Limited, a sister concern of Navana Group, was founded in 2002.
NAVANA Furniture has its factory in Savar, operating in more than 12,000 sq.m area. It sells
Office solutions, Home solutions, Medical and Lab solutions, Industrial solutions and Interior
Designing Furniture.. The company has around 80 outlets across Bangladesh and also expanding
business internationally. At present, around thousand of people are employed in corporate office
and manufacturing plants of Navana furniture in Bangladesh
 Akhtar Furnishers Ltd (AFL)
Akhtar Furnishers Ltd (AFL) commenced its business in 1976. At present, around 800 people are
directly working under the shade of Akhtar Furnishers Ltd. The company have thier own
seasoning capacity of 2000 cft. solid wood a month.
Basic information of NAVANA Furniture Limited
Established 2001
Product profile
Home furniture, office furniture, project furniture, doors,
wardrobes, sawn timber
Annual production
volume
BDT 1,200,000,000
Potential export
destination
European countries and Middle East
available athttp://www.bangladeshconsulatela.com/docs/Booklet_bfidexpo-
2012.pdf

PESTEL Analysis
A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-
environmental (external marketing environment) factors that have an impact on an organization.
PESTEL stands for:
 P – Political
 E – Economic
 S – Social
 T – Technological
 E – Environmental
 L – Legal
PESTEL Analysis for Furniture Industry In Bangladesh is given below.
 Political Analysis
Section A: Question 1 of the survey represents the political issue for Furniture Industry In
Bangladesh. The question was open ended and from the question the issues came up like-
 Political stability
 Export-Import policy
Basic information of Akhtar Furnishers Ltd.
Established 1976
Product profile Wooden, Melamine Laminated Chip Board and MDF
Annual production
volume
BDT 120,00,00,000
Countries exported to Australia, UK, USA
Potential export
destination
USA, UK, UAE
available at http://www.bangladeshconsulatela.com/docs/Booklet_bfidexpo-
2012.pdf

 Tax and Tariff policy
 Trade restriction
 Labor laws and labor unrest
 Economic Analysis
Section A: Question 2 of the survey represents the political issue for Furniture Industry In
Bangladesh Economic factors affect the purchasing power of potential customers and the firm's
cost of capital. The question was open ended and from the question the issues came up like-
 Economic growth
 Interest rates
 Exchange rates
 Rate of inflation
 Per capita income
 Labor cost
 Market/Industry trends
 Social Analysis
Social factors include the demographic and cultural aspects of the external macro environment.
These factors affect customer needs and the size of potential markets. Section A: Question 3 of
the survey represents the social issue for Furniture Industry In Bangladesh. The question was
open ended and from the question the issues came up like-
 Income level
 Social status
 occupation
 Age
 Family size
 Cultural factors
 Fashion trends
 Technological Analysis
Technological factors can lower barriers to entry, reduce minimum efficient production levels,
and influence outsourcing decisions. Section A: Question 4 of the survey represents the technical

issue for Furniture Industry In Bangladesh. The question was open ended and from the question
the issues came up like-
 Automation
 Social Media (Facebook, Twitter etc)
 Technology incentives
 Website
 Supply chain management
 Ease of accessibility, information and communication
 Environmental Analysis
Section A: Question 5 of the survey represents the environmental issue for Furniture Industry In
 Protection of nature
 Business Ethics
 Corporate Social Responsibility
 Ethical business operation
 Legal Analysis
Section A: Question 6 of the survey represents the legal issue for Furniture Industry In
 Consumer rights and laws
 Employee protection
 Health and safety of labor
 Consumer rights and laws
 Advertising standards
SWOT Analysis
A SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate
the strengths, weaknesses, opportunities, and threats involved in a project or in a business

venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves
specifying the objective of the business venture or project and identifying the internal and
external factors that are favorable and unfavorable to achieving that objective.
 Strength
A firm’s strengths are its resources and capabilities that can be used as a basis for developing a
competitive advantage. Furniture Industry In Bangladesh Strengths were searched in Section 3:
Question 1 of the survey through open ended question. The strengths are-
 Strong brand name
 Unique Design
 Good reputation among customer
 Automation in production
 Software based central inventory
 Imported raw materials from China
 Customer database maintenance
 Wide customer base
 Weakness
The absence of certain strengths may be viewed as a weakness. Section 3: Question 2 of the
survey represents the weakness of Furniture Industry In Bangladesh.They are-
 Lack of patent protection: anyone can copy the product
 Absence of high end product
 Not advertised at larger scale
 Poor website quality
 Opportunity
The external environmental analysis may reveal certain new opportunities for profit and growth.
Opportunities also arise from factors influencing consumer purchase decisions such as desire of
quality, special discounts and offers, and excellent and competitive customer service. Section 3:
Question 3 describes the opportunities.
 Demand for Eco friendly product
 Zero wastage target for cost minimization

 Integrated marketing communication
 Niche for higher end products
 Opportunity to go global (Export)
 Threats
Social trends showing lowered entrance of first-time buyers into the housing market affect
furniture sale. Increasing competition and lowered disposable income are factors that motivate
buyers to purchase low price furniture, even at the cost of compromising quality. Threats such as
these, demands the furniture manufacturer to reform its value chain, and optimize innovative
technology in order to provide good quality at lowered prices. Section 3: Question 4 provides a
good insight on the threats for Brothers Furniture Ltd.
 Shifts in consumer tastes away from the firm’s products
 Emergence of substitute products
 New regulations
 Increased trade barriers
How Does The Economy Affect the Furniture Industry?
According to the expert Leslie Carothers who has been in the furniture and interior design
business for the past 31 years, is an international speaker and has also been the writer of
Furniture Today.com’s *Retail Ideas* blog for the past 9 years.
She asked a question ‘Does the economy affect the furniture industry?’ and then she explained
by visualizing with pictures. So let’s see what she explained about the furniture industries.

“The economy absolutely affects the industry, as furniture is a discretionary item” says Leslie
Carothers of The Kaleidoscope Partnership, a social media and marketing company focusing on
the furniture industry. “When the economy is good people are definitely more willing to invest in
furniture as well as better quality furniture as they have more money for such investments.” In
addition she believes that, “whether or not a local economy is strong, furniture companies,
whether retailers or manufacturers, who are executing in the following ways are thriving in
today’s economy.” The companies that are more environmentally aware are thriving in the new
economy.
Carothers explained that “The consumers are much more environmentally aware and more
educated, thanks to the internet, about hoe their purchases impact the environment. Parents,
especially, understand the importance of not having their purchases end up in a landfill.
Companies that make or sell authentically and environmentally responsible products are thriving
– whether or not the local economy is strong.”
Furniture companies working with Flash-Sale sites to offer something otherwise unattainable are
thriving.
Companies working with flash-sale sites, like Joss and Main, One King’s Lane, Gilt, and
offering items that are unattainable elsewhere are thriving because consumers want both quality
and the most they can get for their discretionary dollar. Consumers want both quality and the
most they can get for their dollar. Many shoppers may not be able to afford a new, high quality
piece are now looking to purchase items from flash sales sites.

Retailers that are partnering with the vintage sites like First Dibs and Vintage and Modern are
also doing very well. This as another profitable distribution channel for retailers that also have a
brick and mortar stores. The stores that sell the vintage items are doing very well.
Furniture companies that realize today’s consumers are savvier and more educated than ever
before are thriving.
Today’s customers are looking for items that fit their lifestyles, their personal styles and tastes,
and those pieces of quality. All these factors play into their final decisions, and all within a
certain capped budget. Carothers believes that “The blogosphere has a huge impact, and is doing
a great job educating the general consumer.”
More importantly Carothers talks about the younger consumers (25-35 years) knowledge of
sustainability. “These consumers have been educated since babyhood and that doesn’t mean
green to them. It means quality to them. Because they are environmentally conscientious “they
are open to alternative methods of purchasing furniture where they can get the good quality
pieces that they love at prices they can actually afford today. There’s an awareness in their minds
that we didn’t have.”
Furniture companies that realize that consumers are doing most of their research online and
making their information transparent are thriving.
Today’s consumers are researching before making their purchases. They are buying things that
they love, but they are going online to research quality and price and things that matter to them –
whether fabrics are sustainable, or made here in the USA. Carothers believes that the younger

consumers are now expecting the vendors that they know and love to understand and provide
those kinds of items.
The economy’s influence on this, she explains, “Is that it’s forcing the consumers to look at all
the facts and weigh their options. The internet, as we all know, has made that easier than ever.
The US economy has forced today’s consumers to look much more carefully and make their
choices much more carefully. They want the best they can get when they need it.”
Furniture companies that are willing to mix the old with the new are thriving. Social media and
the internet are great influencers. “The blogosphere has made it hip and cool to own vintage

pieces, to repurpose and up-cycle.” The newer items may not be as good quality as the vintage
piece in the second hand store. Because of the bloggers, there’s no more stigma attached to
owning a vintage piece of furniture. This really focuses on the younger buyer.
Furniture companies that are making or selling products geared toward the needs for universal
design are thriving.
The older buyer, 50 and above, has a different focus and different needs. “The older consumer is
looking ahead to retirement, downsizing to a smaller home and also inheriting inheritance. They
purchase with the intent of need, as opposed to that of desire. They look at what they really want
to live with for the rest of their lives.” Furthermore she adds, “I do think that people 50 and up
are buying, but they’re buying much more judiciously.” Carothers explains, “but there are
pockets of the country where the economy is strong and this does not necessarily apply there.
Furniture companies that are making quality products are thriving. “Regardless of the economy,
people are looking to buy better quality and they are educating themselves before making their
decisions. The impulse purchase pricing is not as strong as it used to be because people are

taking time to really think about the need for their purchases. More and more are now consulting
with friends and family more for help with their decisions. “People are looking for a little bit of
approval so they don’t make the wrong decision – They’re looking for reinforcement.”
Carothers believes that, in the end, the economy is changing us, making us more aware, making
us much savvier.
Furniture companies offering lower priced “on trend” accessories for the home are thriving.
Just as in fashion, the things that are trendy don’t have staying power. Accessories are the best
way to follow and enjoy these trends. “Accessories are lipstick for the home,” Carothers
explains. “That’s what people are doing. They’re buying their lipstick for the home in the form
of pillows and all the other little pretties.” These smaller items are often seen as things that can
potentially be given away as well, perhaps to children when they go to college or go out on their
own. These are items that can be recovered easily or repurposed. There’s a conscientious effort
being made to ensure that these items won’t end up in landfills, as the consumer thinks about the
environment as well as the economy. Accessories are a great way to add color and personality.
Accessories are a great way to follow trends even in a weak economy.
Furniture companies actively involved with new global markets are thriving.
“When you look at the global economy in respect to furniture, you have to look at the bigger
picture and the manufacturer has to ask itself how big or small it hopes to be,” Carothers
explains. “Would it prefer to be a small company with as few as 5 employees or would it prefer
to be a global company with a world-wide presence. The manufacturers have to make those
decisions as to where they want to be distributed and the economy impacts those decisions
because if they are big they have to go where the money is. They have to in order to survive and
stay in business.”

She explains, “If you look at all the points of distribution that are available to you as a retailer or
manufacturer and you figure out how to best use those sites to your advantage, whether a blogger
or some other resource – you suddenly have a lot of options you didn’t have before because you
were too dependent on a local economy. If you’re a legacy manufacturer, now is a good time to
rethink your business and marketing strategies. This allows the legacy manufacturer not only to
maintain relations with its current clientele but to take advantage of opportunities to develop new
relationships as well.”
How trade shows help
Shows like High Point, explains Carothers, help bring the consumer, the marketer and the
furniture companies together. Carothers believed that “High Point has worked well w the new
economy and has done everything they can to support the new visitors in their show. Cheminne
Taylor Smith, Vice President of Marketing for High Point Market Authority, and High point has
revitalized High Point, and how she has done it is nothing short of truly spectacular. She has
helped everyone there see what the [new] possibilities are. She used her position to reposition
her market to reach visitors and new customers and made it designer friendly. She reinvented
High Point and it is the biggest in the world.” By combining creative new ways of marketing and
bringing consumers and vendors together, High Point is a perfect example of how thinking
outside the box can help companies in furniture markets, and any other market for that matter,
survive and succeed even during a down economy.
Carothers concludes by explaining that “The brick and mortar retailers that are thriving in this
economy are those that are doing these things: They are interacting with their customers in social
media channels, and via mobile apps. They understand and are making their stores destinations
for out of the ordinary events because they understand that people need a place to connect and
network off-line. These retailers are allowing their stores to be used as spaces to be used in
creative ways, and in so doing they are becoming a destination place, and therefore becoming an
important part of the community.”
Leslie Carothers is the founder and CEO of The Kaleidoscope Partnership and its division, Slow
Down Social, delivering one on one internal training, onsite *Slow It Down Social* workshops
and executive level social media strategic advice to international furniture and design brands and
their executives. She is also the community manager for Olio board and has firsthand knowledge
of how brands are using Oilbird‘s free site to reach and create relationships with today’s global
consumers.

Conclusion:
Dealership’s financial success depends largely – next to fluctuations in demand and changing
market conditions – on a good cooperation with the customers. Additionally, the decisions at the
central level, including the timeliness of product deliveries, the amount of dealer allowance,
credit sales, trade promotion, ensuring product quality according to customers’ preference, and
charging reasonable price are a decisive influence on the profitability of dealership business. The
present research may have a contribution to the literature since it has been observed that value
generation and promotion as the most important factor concerning the satisfaction level of the
dealers of Partex Furniture Industry Limited (PFIL) under study. From the end user perspective
both the authorities of PFIL and the regulatory bodies may attach more importance to the linkage
between benefits provided to the dealers and the level of satisfaction of the dealers working with
the industry. This organization may focus to increase its consumer sales promotional activities as
the market needs. The findings of this paper will be beneficial both to the principal company as
well as to the dealers of furniture industry in Bangladesh. For the companies this will help to get
the maximum satisfaction of dealers’ of PFIL as well as its end users, in effect, dealers can play
an important role to increase the earnings of the company. The major limitation of this paper is
that this research was only conducted to explore and find out the factors affecting the satisfaction
of dealers of Partex Furniture Industries Ltd. But it can be conducted on other furniture industries
in Bangladesh as well as overseas.
References

Factors Driving Growth of Bangladesh's Furniture Industry

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