BD’s e-commerce sector looking for Eid business boost

FE Team | Published: March 21, 2024 23:53:51

College student Nafisa Nidhi is opting for online shopping on e-commerce platforms instead of physically stepping into stores for Eid-ul-Fitr shopping, especially with the college-leaving HSC exams around the corner, reports bdnews24.com.
According to the student of Viqarunnisa Noon School and College, ordering clothes online ensures quick delivery within three days and offers better service quality compared to traditional shopping methods, with reduced chances of being cheated.
For many, Eid shopping is an enjoyable experience, but concerns about traffic congestion and the hassle of shopping in crowded markets often put them off.
E-commerce websites and Facebook-based sellers offer a convenient alternative.
Customers can browse through their favourite clothing brands' websites or Facebook pages on their smartphones and have their chosen products delivered to the doorstep. Sellers note that this increasing reliance on online shopping reflects a growing preference for convenience over the challenges of traditional physical store shopping.
The trend of relying on online shopping has notably surged since the onset of the COVID-19 pandemic in 2020, with movement restrictions and lockdowns prompting more people to turn to e-commerce platforms.
As a result, the e-commerce sector has witnessed significant growth, but fell again after the restrictions were lifted.
In February 2022, amidst economic challenges stemming from the Ukraine war-induced recession, there was a potential decline in online shopping compared to the previous year, according to fashion entrepreneurs and sellers.
Bangladesh's e-commerce sector looking for Eid business boost
However, fashion houses are anticipating a rise in online sales during this Eid season, despite the uptick in commodity prices.
The figures given by people in the sector indicates a steady trend of sales during the festival.
Jahangir Alam Shovon, the executive director of the e-Commerce Association of Bangladesh (e-CAB), which represents brands and companies engaged in online retail, said that while the organisation has 2,500 members, the country boasts around 3,000 e-commerce websites.
He further mentioned that online shopping sees a significant surge during Eid with approximately 900,000 product deliveries are expected during this period. Typically, there is a 25 per cent increase in delivery volume before Eid compared to the rest of the year.
Shovon forecasts that around 25 per cent of total Eid sales may occur through e-commerce platforms, with an additional 18 per cent through f-commerce, which operates primarily through Facebook pages.
Bangladesh's e-commerce sector looking for Eid business boost
All prominent clothing brands in the country have established websites, and they ramp up their online presence especially during festival seasons. While online sales typically constitute around 5 per cent of their total sales throughout the year, this figure doubles during Eid for brands like Le Reve.
According to Monnujan Nargis, the CEO of Le Reve, online sales during Eid are equivalent to the total sales of one of their showrooms. Nargis sounded optimistic about increased sales this Eid, noting that during this time, they receive more orders from cities beyond Dhaka, with half of their total online sales originating from outside the capital.
Expatriates also contribute to online orders, particularly from countries like the US, Canada, Australia, the UK, France, and Germany. To incentivise purchases, Le Reve offers free delivery for orders exceeding $150 from overseas during Eid.
Similarly, renowned fashion brand Aarong caters to customers through its showrooms, e-commerce platforms, and Facebook pages, with their website showcasing new Eid collections. Products ranging from sarees to jewellery are available for purchase.
Asif Ahmed, a private company employee, prefers online shopping from Aarong because of time constraints. He finds it convenient and time-saving, especially with the added advantage of avoiding crowds.