HATIL & Its Presence in the Wooden Furniture Market in Bangladesh
04/12/2022, Dhaka, Bangladesh // KISS PR Brand Story PressWire //
HATIL Complex ltd is a Bangladeshi furniture brand that started its journey back in 1989. The roots of HATIL Complex lie in the timber business that was known as H. A Timber Industries. Which led to the inception of the renowned furniture brand. Today, HATIL dominates the wooden furniture market in Bangladesh and is considered a glowing example in Southeast Asia.
Bangladesh is set to be recognized as a middle-income country in 2026. There are a number of industries that facilitate their economic progress. The Ready-made Garment industry is the most notable one but Bangladesh has shown promise in other sectors as well. The furniture industry of Bangladesh appears rather promising. Having already made a statement in the Bangladeshi market, HATIL is set to enter the foreign market as an exporting entity. It is already exporting to countries like Canada, Thailand, Nepal, Malaysia, Sri Lanka and India. HATIL’s showrooms are present in each of those countries and their products are also available in the United States.
The Wooden Furniture Market in Bangladesh
The wooden furniture market is an interesting one. A few years back, many assumed that the wooden market would not last long in the face of artificial materials and metal furniture. But the last decade has made it clear that not only wooden furniture is here to compete, but also it is here to stay. Regardless of all the furniture made of metal and other materials, the wooden market holds a place in the average consumer’s mind that is unlikely to be replaced. Studies on the local market show that wooden materials are important for about 81% of consumers.
There are a number of reasons why wooden furniture is so popular and studies show that the designs are one of the main factors. Wooden furniture also exudes a traditional aura while being modern at the same time. This appeals to the older customers as well as the youth. HATIL, as a furniture brand has managed to make an impression on the local market in Bangladesh based on its modern design and hopes to bring that excellence to the international dimension.
The present furniture market is a little bit different in the South-Asia than in the United States. While consumers in the United States are more concerned about moral issues like recycling and ethical forestry along with designs, the South-Asian market is still mostly focused on issues that are primarily subjective to the furniture itself. Design is one of the main issues amongst the consumers and the concept of minimalistic design is gaining popularity for obvious reasons.
The minimalistic design is a concept that is universal and there is no going around it. The population of the world continues to increase and it will only keep growing. As a result, spaces are becoming scarce and apartments are becoming smaller. Minimalistic designs focus on using the bare essentials to create a simple and uncluttered space. HATIL has already recognized that and is focusing on minimalistic design in its products. In addition to that, HATIL has been addressing the moral issues by using FSC certified wood and focusing on recycling and self-sustained factories.
The future of the furniture industry is not set to change drastically. Studies show that the furniture industry continues to maintain a stable business. And it will continue to do so in the foreseeable future. The reason is quite simple. Furniture is one of the basic commodities that people have been needing for as long as we can remember and people will continue to need furniture. There is no changing that. So whatever fluctuations are to be encountered in the furniture business will be because of other factors. The demand will increase with time.
HATIL is already studying the local market. A study by HATIL shows that in the local market in Dhaka, Bangladesh, 55% of respondents prefer brands over local shops when it comes to furniture. This number is set to grow in the future. As one of the leading brands in the country, HATIL continues to create a positive brand image amongst the consumers.
An Important factor to keep in mind is that Bangladesh is set to become a middle-income country in a couple of years. The local market is expecting an unprecedented change in that time. It is likely that more foreign brands will enter the local market and HATIL is prepared for that competition. In fact, when HATIL first entered the furniture market in Bangladesh, the local market was already dominated by foreign brands. HATIL stood up to that competition and established itself as a force to be reckoned with.
With its success and experience in Bangladesh, HATIL aims to introduce itself as an international brand and it’s on its way to make an impression.
Visitwww.hatil.comfor more information.
Company Name: HATIL
Phone Number: 01711538357
Website URL: https://hatil.com
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Release ID: 232090
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