E-commerce In Bangladesh: This is the Right Time To Grow Your Business
E-commerce in Bangladesh is among the less affected businesses in Bangladesh during the COVID -19 pandemic. Just like other major countries around the world, Bangladesh too, has enforced a nationwide lockdown. In such a tough situation, e-commerce and mobile apps are coming to our rescue.
E-commerce in the times of ‘lockdown’
Honestly speaking, we could not have been confined within our homes at a better time than this. Bangladesh now has more than 31 million people using smartphones.
Moreover, according to a 2019 article , internet penetration in Bangladesh is at an all-time high at 9.37 crore. Therefore, it is high time for businesses to move online and start reaching out to customers digitally.
E-commerce in Bangladesh has been booming with the growing number of technology adopters, especially among the youth. Successful e-commerce ventures inside and outside the countries have prompted many entrepreneurs and established businesses to look for e-commerce solutions.
Adding to that, in a fast-paced lifestyle, the average consumer is now more concerned about convenience while buying something.
The coronavirus outbreak has shown us the importance of having an online presence for businesses. It can be seen that those who have already adapted to an e-commerce framework, are running well despite the lockdowns. The virus outbreak has hampered in-store traffic hugely.
On the other hand, we have seen a surge in online traffic. This is forcing traditional consumers to look for available alternatives in e-commerce in Bangladesh.
E-commerce in Bangladesh: current scenario
According to the e-Commerce Association of Bangladesh (e-CAB), the e-business industry in the country is now worth BDT 8,000 crore. Furthermore, it is steadily growing at a rate of 50 percent annually.
Experts think that this is the right time for entrepreneurs to take the initiative and come up with e-commerce ventures.
Particularly, e-commerce sites offering daily essentials, grocery items, food items, medicine, and healthcare products have seen a huge rise in online customers. In contrast to this, cosmetics, fashion items, clothing, and IT services are still recovering from the sudden change in buyer-behavior.
In spite of the opportunities, the lack of deliverymen has significantly contributed to the slowdown of e-commerce in Bangladesh recently. Additionally, the confusion over the safety regarding imported items is also there. Nevertheless, smart businesses can easily find solutions for such issues and garner more customer engagement than before.
It is sad that we are seeing a lot of people belonging to the low-income groups, especially day laborers getting unemployed during this crisis. E-commerce businesses can hire these people to work as delivery people. Besides, e-commerce is among the necessary services in the country still...
