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e-commerce and online shopping in Bangladesh

e-commerce and online shopping in Bangladesh

For starters, first, come to mind well what e-commerce is. E-commerce (electronic commerce) is the exchange of products and services through the Internet. It includes various information, programs, and resources for online buyers and sellers, such as mobile shopping and encryption for online payments.


source:pexel (e-commerce)

The rise of e-commerce marketplaces  in Bangladesh

E-commerce and online shopping have been rapidly growing in Bangladesh in these recent years, thanks to the rise in low-cost smartphone availability, the expansion of internet connectivity, and the Bangladesh government's push towards a digital economy.

According to a report published by the Bangladesh Association of Software and Information Services (BASIS), the country's e-commerce market was worth around $3 billion in 2020, with an annual growth rate of 25% almost. The market is anticipated to have grown by another 10%, reaching $10 billion By 2025. Another report by Statista, In 2023, the eCommerce market is expected to generate US$8.09 billion in revenue. By 2027, a projected market volume of US$14.68 billion is anticipated, with revenue estimated to expand at a 16.05% annual rate.


According to a report from the e-Commerce Association of Bangladesh (e-Cab), from the previous year, In Bangladesh, there are more than 2,500 e-commerce platforms, of which 1% are large enterprises, 4% are medium-sized firms, and 95% are small businesses.


Market trends at the moment in Bangladesh

The four types of eCommerce listed below are currently common in Bangladesh:

  • Business-to-Business (B2B) 

  • Business-to-Consumer (B2C) 

  • Consumer-to-Consumer (C2C) 

  • Business-to-Employees (B2E) 


Reasons for this massive growth of e-commerce in Bangladesh

Mobile banking(bkash, nagad, rocket) has become very popular in Bangladesh, so consumers are more likely to purchase products easily from e-commerce sites.


One of the key factors driving the growth of e-commerce in Bangladesh is the rise of social media usage. According to Statista, Bangladesh is the 10th-largest country in terms of Facebook audience size, with almost 44.7 million users as of January 2022, and in terms of Instagram audience the size of 3.45 million which is quite a huge number.


With its large audience, many small businesses and individual entrepreneurs are using social media platforms such as Facebook and Instagram to sell their products and reach a wider audience. This has allowed many people to start their own businesses with minimal investment and overhead costs.


The top 8  E-Commerce Companies in Bangladesh today are  1. Daraz · 2. Chaldal · 3. Rokomari · 4. Bikroy dot com · 5. Pickaboo · 6. Othoba · 7.Ajkerdeal · 8.Priyoshop. These E-Commerce Companies serve almost 170 million people from Bangladesh. These platforms offer various products, from clothing and electronics to groceries and household items. They provide convenient payment options, including cash on delivery, mobile banking, and credit/debit cards.


Challenges of the e-commerce industry in Bangladesh

However, there are still some challenges that the e-commerce industry in Bangladesh faces. These include a need for more reliable payment and delivery systems, low levels of digital literacy among the population, a lack of trust in online transactions, and a comparatively low rate of internet adoption by Bangladeshi people. The government and private sector are working to address these issues through initiatives such as digital payment platforms, improved logistics and delivery systems, and public awareness campaigns.

Overall, the development of e-commerce in Bangladesh has opened up a new business and consumer prospects and is anticipated to have a significant impact on the economy of the nation in the years to come.


That's all for today. Suggest to me if there any mistake or any things could be improved. Thank you. {Ajmain Sourov}

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