E-commerce business in Bangladesh is not that well known like Garments business. But this sector is growing steadily. Many people are not aware of this business. In this article, we will discuss what is e-commerce business, how it started it’s journey first in this country, it’s present situation and prospect in future.
Let us first started with what is e-commerce? In a simple definition e-commerce is a business process where people buy products or services through internet. They make payment by either online or cash on delivery. It is now one of the most preferred ways of purchasing goods or services around the world. Because people can do shopping from their home.
History of e-commerce business in Bangladesh
Bangladesh is a late entrant in the e-commerce business compare to other countries. Lack of availability of online payment system and high-speed Internet was responsible for this. The Year 2009 is a landmark year for e-commerce business in Bangladesh. Because in this year The Bangladesh bank first approved online payment and in the year 2013 it approved use, of debit and credit card for online payment. Since then online business saw a new dimension. Many entrepreneurs with help web developers developed e-commerce site and started online business. A few of them got wonderful success. The top 5 are Daraz ,priyoshop.com,ajkerdeal.com Bikroy.com,Bagdoom.com. Online business is also rapidly spreading in Facebook. According to e-cab( e-commerce association of Bangladesh) at present, Bangladeshi people are operating business by 8000 Facebook pages. In 2016, Bangladesh government opened e-commerce site in every district. E-commerce business in Bangladesh is really off the ground now.
The present situation
The present situation of e-commerce business in Bangladesh is promising. In 2016, FBCCI (The Federation of Bangladesh chambers of commerce and Industry) recommended removal of tax from e-commerce business. Since then ten billion taka transaction is being taken place every year according to a 2017 report. People start new online shop with new business ideas. So it is a flourishing business indeed.
The prospect of e-commerce business in Bangladesh
The prospect of this business in Bangladesh is auspicious. A number of factors can be mentioned in support of this statement. First, according to Bangladesh telecommunication regulatory commission as of January 2018, current Internet subscribers of Bangladesh is now over 80 million. Over 75% of these users are mobile Internet users. More Internet subscribers means more online shoppers. Country’s mobile service has been upgraded day by day. Mobile operators are now proving 4G service from 3G service. This is a good sign. People would have better access to the Internet. Third, Facebook users are increasing in Bangladesh exponentially. Dhaka is the second most active city in World for Facebook users. A great news for f-commerce. Facebook business page is a very good option for many small businesses. Because they cannot afford to run an e-commerce business site.
What needs to be done in order to sustain in this business
People in e-commerce business need to ensure three things to survive on this business. These are
- Providing high-quality products to customers
- On time delivery
- After sales services