Valentine’s week: A rosy time for small entrepreneurs
Over the past couple of decades, Bangladesh has embraced the celebration of Valentine's Week with great enthusiasm, creating a vibrant opportunity for the country's creative entrepreneurs to thrive
Valentine's week has just ended with Valentine's Day on 14 February, which was also the first day of spring. There was love in the air for a week—from 7 February with Rose Day. The week was all about celebrating love and showering loved ones with affection. To celebrate each day of the week having special themes, everyone tried to give something special and unique to their loved ones.
As Bangladesh has also started to celebrate Valentine's Week lavishly for a couple of decades, a familiar frenzy has taken hold. Stores overflow with heart-shaped trinkets, restaurants offer candlelit dinners for exorbitant prices and the air hums with a commercialised version of love.
Besides, Bangladesh does not have an economy of roses and the majority of people are unable to spend for these luxury occasions as the imported gifts and cosmetic items targeting these special occasions are mostly overpriced for the average middle-income group. In this case, Valentine's Week in Dhaka has become a playground for the creative entrepreneurs of Bangladesh.
Entrepreneurs usually prioritise locally sourced products, offer affordable alternatives, and create experiences that cater to diverse expressions of love.
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A pop-up market showcasing handmade crafts by local artisans, or a customised dress with some lines of romantic poem or lyrics, allowing couples to express their love in a very traditional way, are just some examples. Handmade jewelry or some portraits by students of fine art or small entrepreneurs are way better than gifts consisting of Western motifs.
These initiatives not only promote local businesses but also create a more inclusive and authentic Valentine's experience.
Undeniably, entrepreneurs are the pulse of our festive spirit. Many small entrepreneurs and students started to plan their businesses targeting this special week from the beginning of the new year. They offered different kinds of hand-crafted products from customised chocolates to customised couple sets and so on. Some also used their skill to draw portraits and make different crafted showpieces.
Even students from different universities sold different kinds of flowers on their respective campuses, buying them from wholesale markets and reselling them for a profit. Several students from different universities have acknowledged that these various kinds of businesses targeting special occasions have been really helpful for them as they can turn their favorite pastime activities into small businesses and a way of income beyond tuition or part-time jobs.
Hearts weren't the only things getting paired up - entrepreneurs were also hiring! Entrepreneurs looking to capitalise on the Valentine's rush created a temporary boom in hiring. From pop-up market vendors and restaurant staff to event organisers and delivery drivers, a multitude of jobs blossomed overnight, injecting much-needed income into the community.
But they also helped participants learn new skills that can potentially lead to future creative pursuits or even business ventures, fostering long-term economic benefits. Moreover, the increasing demand and supply of crafted products will also decrease the dependency on imported products eventually.
In a lively city like Dhaka, entrepreneurs should be encouraged to be creative, ethical and mindful in their offerings, allowing Dhaka's Valentine's Day to be a celebration of love in all its diverse and beautiful forms. By tapping into local talent, catering to diverse budgets and interests and leveraging technology, seasonal entrepreneurs have started to carve a niche in this lucrative market by targeting these special occasions.
From local crafts to budget-friendly fun, these hustlers are painting the city with both romance and economic cheer. They're tapping into Dhaka's hidden talents, making love affordable for all and using technology to spread the love and the cash!
Ultimately, Valentine's Week is not a competition, but a time to celebrate the unique bonds that connect us. A handwritten note, a shared meal cooked at home, or simply spending quality time together can be far more meaningful than any overpriced bauble.
But with consumer demand peaking around seasonal festivities, businesses strategically align their offerings to cater to heightened purchasing behavior, maximising both profit and market reach. The interplay of emotional spending and economic incentives creates a dynamic marketplace where small-scale vendors, digital entrepreneurs and local artisans thrive.
The economic landscape of Dhaka is set to bloom with renewed prosperity, propelled by the innovative spirit of entrepreneurs. So, let us raise a toast to the hustlers, the dreamers and those who have proved that love truly makes the economic world go round, especially on Valentine's Week!
Samira Tasnim is a Research Associate at the Bangladesh Institute of Governance and Management (BIGM).
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the opinions and views of The Business Standard.
