Published on December 21st, 2016 | by Basit Ali0
The Booming e-Commerce in Pakistan
A few years back, Pakistani e-commerce was almost non-existent. But the recent prediction that Pakistan’s e-commerce is estimated to reach over US$ 600 million by 2017 is a testament to explosive growth in e-commerce in Pakistan
You can see e-commerce is bombing all over the region in which including china where e-commerce market is estimated to be over US$ 250 billion. There are lots of online ventures springing up rapidly and existing unbelievable business growth rates. But there are still some needs to be done true e commerce market and compete with other big players of the region.
Nowadays, online shopping websites provide a wide collection of customers like electronics, fashion and beauty products, home furniture, sports and fitness apparatus, groceries, and luxury services such as hotel bookings, and vehicle buying selling. The explosive growth is led by recently launched sites like Tambuk.pk, Well.pk, Clicky.pk along with juggernauts like Daraz and Kaymu.
There are various factors which have affected the development of e-commerce business in Pakistan. The most vital factor is highest speed of the internet. Internet allow people to find everything at home within second or minute. The user of the internet is likely to raise up to 66 million users by 2019.
Meanwhile, the experts said, introduction of 3G, 4G and LTE services in 2014 has increased internet accessibility and also enhance the growth of online purchases.
No doubt Cash-on-Delivery (COD) payment methods is widely famous in Pakistan and explanation for more than 95 percent of online purchases, other promising creativities such as branchless banking Telenor’s Easy Paisa, Zong and Askari Bank’s Timepay, Mobilink’s Mobicash Telenor’s Easy Paisa etc.
Through the internet access and social media sites like Facebook and twitter marketing trend also increase and transformed the opinions in to the new shaped. This will not only convert shopping trends but also meaningfully impact various other e-commerce fields, for example, online job search , property and rental transactions.
According to the Dawn: “E-commerce websites transport consumers nearer to what they are really looking for and can often answer their inquiries related to a specific product. Such is the power of e-commerce”
The upcoming of e-commerce developments lay in the aptitude of online business to increase their position and create trust in online shopping and e-commerce creativities. There is an extensive way to go. With just 3 per cent of the Pakistani population indulging in online shopping, numerous enterprises are starting with online businesses in Pakistan to grasp out to their potential market, build up their trustworthiness, and save consumer trust.
The timing is suitable for e-commerce in Pakistan and the industry is all geared up to make huge waves with immense scope for invention and development. If this trend lingers, e-commerce is slated to become the next big thing in Pakistan. Moreover, consumers will advantage from online shopping and make huge amount of profit within days. This is best time to start and invest in an ecommerce venture in Pakistan