COVID-19 is becoming a serious threat to global public health all over the developed and developing countries, and Bangladesh is at great risk from public health emergencies as this is a developing and overpopulated country. As Readymade Garments (RMG) workers have little education and having a low socioeconomic background that leads to a more vulnerable situation.
Bangladesh’s RMG workers were impacted surely During Covid-19 both physically and mentally, which led to unemployment and accordingly financial crisis and many other long-lasting effects.
As the global supply chain also interrupted during this time, buyers canceled many orders, also holding payments which led to many job-cut in the Bangladesh apparel sector.
This crisis also influenced the global economy, created fluctuations in stock prices, depressed earnings projections, and even delayed movie premieres. This became even more serious in China, which hampered the global supply chain. It might happen in two distinct ways, the first impact on the supply of inputs for many manufacturers and retailers all over the world, as we know China is a massive source of manufacturing raw materials. Big plants are sitting idle and if this disruption continues then many manufacturers and retailers may face massive obstacles in their operation.
Second, all over the world, the local economies that depend on China as a consumer are feeling the effects, all of them in China limit their travel and consumption, which is heavily affecting the global supply chain.
To sum up in better circumstances, to overcome the massive impact of COVID-19, we have to know how to survive in this critical situation and make a proper action plan. For instance, creating awareness on public health with proper training and medical assistance can be a way to ensure the smooth running of the production.
As global demand for apparel is slowing down, factory owners should focus more on product diversification and value-added products instead of core line products as it will eventually downward sloping.
Now consumers are focusing on sustainability and with some story on it. The demand for functional products that offer fulfillment of any special requirement of consumers (I.e. masks, PPE, technical textiles, casual wear, etc.) are increasing. So we should catch the market stanchly.