Online trading platforms grow fast to 2,000 for e-commerce

Shah Alam Nur | Published: September 03, 2014 00:00:00 | Updated: November 30, 2024 06:01:00

Online trading platforms have grown to more than 2,000 now to facilitate e-commerce as the concept of shopping without having to take the trouble of visiting a shop is getting popular fast in the country.Â Â Â Â Â Â Â Â
Sector-insiders say the concept of e-commerce (electronic commerce) came as a blessing for local trading houses that are now largely focusing on online trading practices because of its growing popularity.
Businesspeople say a rapid growth in the internet networking and mobile- phone coverage in the country's remotest locations has forced them to adopt the facility to catch the customers having not enough time to go shopping. Â
"Now we're getting good response from our local customers, the young buyers in particular, as e-commerce trading is very easy. The customers can place their order online and get their desired products sitting at home," AKM Fahim Mashroor, former president of Bangladesh Association of Software and Information Services (BASIS), told the Financial Express (FE).
He said a large number of people are turning to hassle-free online shopping to save time and avoid nagging traffic jams.
To fulfill the customers' demand in recent times, the local leading brands have turned to e-commence system.
According to BASIS, in just three years, more than 2,000 online trading platforms have come up in the country as virtual shops. They include akhoni.com, shurjoMukhi Limited, Oscom, Rokomari.com, Amar Desh Amar Gram, AjkerDeal.com, Webshohor, at2clicks.com, Biponee.com, and sholoana.com. Â
There are two kinds of online trading systems on the local market: Business- to-Customer (B2C) and Customer-to-Customer (C2C).
In the B2C model, a consumer goes to the website, selects a catalog, orders the catalog and an email is sent to the business organization. After receiving the order, goods are dispatched to the customer. Following are the key features of a B2C model
The C2C markets are innovative to allow customers to interact with one another. Traditional markets require business-to-customer relationships, in which a customer goes to the business in order to purchase a product or service. In customer-to-customer markets the business facilitates an environment where customers can sell these goods or services to each other.
In recent times, more than 41 online social-media pages such as Facebook and tweeter have become popular for e-commerce.
The insiders said about 73 per cent of e-commerce transactions are done on Facebook pages. And in the evening the e-commerce business continues to grow significantly. Most online traders are younger, about 20-35 years of age.
With online business more than 70 percent trading is done in cash-on- delivery system and the rest 30 percent with credit card and other systems.
The BASIS data showed around 15 million people in the country now use the internet regularly. Of them, 4-5 million have accounts on Facebook, which is holding leading position for online shopping.
About 5-6 per cent of the internet users do shopping with online system in the Business-to-Customer category
The BASIS president said in recent times they have been observing the trader is very happy with e-commerce. "As a result, online shopping is increasing sharply."
He said many of local brands are now receiving their selling order online and deliver their products to consumer's doors in time. The customers don't need to pay the price of a product before delivery.
Acceding to BASIS with online-outlet companies there are more than Tk 6 billion on the e-commerce market in the country.
The outlet companies are providing many of services, including luxury restaurants, hotels, transport, beauty parlors, fashion houses, theme parks, gymnasiums, furniture shops, and sports and recreation centres.
The BASIS data also showed in the country, online shopping, including e-ticket sales and sales through Facebook, has yearly transactions worth around Tk 10 billion. It is growing by 20-25 per cent month on month.
"The younger customers are interested in online shopping because they get a huge number of collections in one place. Also, the price is reasonable and the delivery charge is minimal," said Debashis Phani, head of operation, AjkerDeal.com.
He said currently they have a database of around 50 thousand consumers-and the number is growing every moment.
"At the end of the day, we provide consumers with quality and demandable products at cheap rates."
Rokomari.com is another online shopping portal. Now Rokomari.com is the largest online bookstore of Bangladesh.
Mahady Hasan Rana, senior executive of Rokomari.com, said: "We have huge collection of different books, CD, DVDs which contain most popular Bangla songs, drama, movies."
He said their products are books, CD, and DVD with target of school-, college- and university-going students and mass people.
A growing number of college and university students are buying their products through e-portals to avoid hassles.