Walton has touched everyone’s emotions by making ‘Made in Bangladesh’ products in the domestic electronic and automobile products market. As a result, the company has registered as a successful company in a short time. Walton has already announced as a billion dollar company. Capital has also entered the market. On the other hand, e-commerce company Evaly is not too old to enter the country’s market. Yet the brand is now brilliant. Evaly authorities claim they own more than half of the domestic e-commerce.
Market insiders say the two companies are able to better understand what buyers want. They are also ahead in marketing. The two companies are adopting special strategies to reach the buyers. The two organizations are now at the forefront of providing essential products and services to all ages, including young people. Middle and advanced consumer is growing in the country. As a result, both the institutions have been able to catch it. As a result, they have got success.
Although Walton was founded in 1986, it entered the electronics and automobile business in 2000. It is currently a billion dollar company. On the other hand, Evaly came to the market in 2016. Evaly authorities said that Evaly’s growth in that year and in 2019 was 10 times. And in 2020, the growth of Evaly is one thousand percent.
Walton aims to become one of the top brands in the world by 2030
The refrigerator is at the top behind Walton’s rise to today’s position. Then there are televisions, air conditioners, laptops, computers, mobile phones, home appliances, etc. And Walton is now a multi-billion dollar company.
However, Walton authorities believe that every Walton product is equally important. Every product has the confidence of the buyers. Young people also like Walton brand because of its products like laptops, computers (PCs), mobile phones etc. Walton is now a family brand as home appliance products enter the family.
Uday Hakim, Executive Director of Walton, said that the reason behind Walton’s position today is the dependence and love of the customers towards every product of the company. With the support of every person in the country and the confidence of investors. Walton’s entrepreneurs aimed to enable the people of the country to buy the best quality electronics and technology products at affordable prices. Walton never compromises on product quality. He said Walton’s policy is “fit for all” to create products suitable for buyers of all classes and professions. Therefore, Walton places great emphasis on product quality development and research. As a result, Walton has taken place in the minds of the people of the country.
Asked why Walton is different from others, he said, “Walton is bringing fame to the country with its ‘Made in Bangladesh’ tag products all over the world.”
He said Walton is focusing most on R&D or research and development. Walton’s R&D team, made up of engineers from home and abroad, is one of the largest in South Asia. There are very few R&D teams in the world. In addition, there is more ‘variety’ of Walton products. Walton manufactures products according to the tastes, demands and purchasing power of buyers worldwide. Our goal is to become one of the top brands in the world by 2030. That is why we are working on a comprehensive plan with equal importance in all departments.
Evaly successful over time
“I adhere to two theories all the time,” said Mohammed Russell, founder and managing director of Evaly. One. If you want to respond to something, you have to think ‘out of the box’. If you think in a conventional way, you don’t have to have ‘innovation’. Two. Doing something for someone is more rewarding. Doing something for buyers, doing something for employees doubles or more. Both of these principles have acted as the driving force behind my or Evaly’s success.
“We have solved the distribution problem,” he said. I want to sell the highest number of products that I sell. We want to be number one. No matter what product we sell, we need to have at least 50 percent market share of that product. This makes the suppliers happy. Why not give us the product if we are guaranteed to sell a ‘bulk amount’. We hold a large share of the market share of the mobile phones we sell, the motorbikes we sell. He thinks that it can be bought at a lower price and sold to the buyers at a lower price. When the market share is high, it builds trust between the buyer and the seller.
He thinks time is also a big factor. It doesn’t take long to succeed if you understand what time or trend demands. He said young people are the biggest buyers of Evaly. What young people want, what kind of product they are interested in, how they want to pay the price, what kind of wallet they like, what they want to do with the discount they get in the shopping – all these things are surveyed, verified but we decide what kind of product I will present it on our site.
Prominent economist and former governor of Bangladesh Bank on the success of the two institutions, market, contribution to the economy. Atiur Rahman said, the magic of the success of the two companies is that the income of the people of our country has increased. As a result, demand has increased. People now want comfort, they want to spend their holidays. Understanding these issues well, the company is presenting the product to the two buyers in the same way. People can buy cheap refrigerators and store vegetables and food in them. Can buy cheap color TV. They are having fun. Their lives have changed drastically. He said the era of ‘structural transformation’ has begun in the country’s economy. ‘Middle and Advance Consumer’ is on the rise. The company has succeeded in meeting the demand of this class.