E-commerce in Pakistan

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Introduction

E-commerce (electronic commerce) refers to the purchasing and selling products and services and the transmission of payments and data through an electronic network, most often the internet. Business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer, and consumer-to-business transactions are all possible. The rise of the E-Commerce platform has cleared the door for more inclusive commerce and economic growth.

Since the previous two decades, global e-commerce has grown at an exponential rate. In the first quarter of 2021, Pakistan’s e-commerce market size increased by more than 35% to Rs96 billion, up from Rs71 billion the previous year. With a turnover of US$4 billion in 2020, e-commerce in Pakistan is the 46th largest market for e-Commerce, ahead of Peru and behind Greece. The Pakistani e-Commerce market contributed to the global growth rate of 26% in 2020, with a rise of 84 percent.

Despite 38 million Internet mobile users, Pakistani e-commerce is still in its infancy, with few Internet retail transactions. However, it is a growing industry, with an increase in online sellers, local E-Commerce platforms, and online payment services offered by banks and significant cellular providers in recent years. In only twelve months, the number of registered e-commerce merchants has increased by 2.6 times, while e-commerce payments have increased by 2.3 times. In South Asia, Pakistan is also a leader in mobile banking transactions.

For years, Pakistan has been on a quest to shake up its economy and develop a cost-effective plan for widespread commercialization. This objective has been helped to some measure by the emergence of the IT sector, population expansion, and the rise of internet users. As a result, people in Pakistan tries various kind of products to purchase. Clothing, Dress, Shoes, Shirt, Undergarment, Ladies Handbags, Bedsheet, Beauty & Hair Care Items, Women’s Jewellery, and Men Bracelets are among the top online buying products in Pakistan.

Others may not have the same positive experience with a purchasing website as you. On the other hand, people can evaluate websites based on their convenience of use, product discounts and promotions, and buyer protection.

Regarding trustworthiness, customer service, consumer protection, discount offers, and product availability, here is a list of the top 10 online shopping websites in Pakistan.

Daraz.pk

Goto.com.pk

Aliexpress.com

Telemart.pk

Shopon.Pk

HomeShopping.pk

iShopping.pk

Yayvo.com

Shophive.com

Symbios.pk

Vmart.pk

Some popular brands use their website for the online sales of their products and provide an extraordinary experience to the customers that adds value to the brand image. However, most people prefer to shop from the brands using their official websites.

Conclusion

It can be projected from the above discussion that worldwide retail e-commerce sales will reach a new high by 2021 and onward. Ecommerce businesses should anticipate a 265% growth rate, from $1.3 trillion in 2014 to $4.9 trillion in 2021. This shows a future of steady upward trend with no signs of decline. Therefore, the future of the e-commerce business in Pakistan can be predicted as bright.

References

Ahmed, R. (2019). Association for Information Systems Association for Information Systems AIS Electronic Library (AISeL) AIS Electronic Library (AISeL). [online] . Available at: https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1012&context=whiceb2019.

Batada, I. (2020). The future of e-commerce. [online] www.thenews.com.pk. Available at: https://www.thenews.com.pk/print/744670-the-future-of-e-commerce.

JABBAR, A. (2019). Top 10 Online shopping websites in Pakistan 2021. [online] STACKOFTUTS. Available at: https://www.stackoftuts.com/internet-marketing/top-15-online-shopping-sites-in-pakistan-2019/ [Accessed 18 Jun. 2021].

Khan, M.Z. (2021a). Pakistan’s e-commerce market growing. [online] DAWN.COM. Available at: https://www.dawn.com/news/1606875.

Khan, M.Z. (2021b). Pakistan’s e-commerce market growing. [online] DAWN.COM. Available at: https://www.dawn.com/news/1606875.

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