Pakistan’s E-Commerce takes a Sky High Surge
Pakistan’s e-commerce sector is escalating, advancing towards growth. Gulf News states that E-commerce sector in Pakistan holds a net-worth of $60 million currently and future projections are it will cross over $1 Billion mark by the end of year 2020. It got such a rapid boost by foreign investments in this sector and the emerging mobile payment platforms.
Pakistani E-commerce market took an upswing in popularity of online transactions done by savvy middle class. Yusuf Hussain, director of the Islamabad Founder Institute said. Increase in investments also stays a major factor.
Talking about mobile payment platforms, he further said that with customer awareness about mobile payment solutions, telecom sector is pretty much bound to work on customer friendly cash on delivery models to remain in the market.
Jamil Goheer, co-founder of Virtual Force, which provides technology and designing platforms to startups followed saying that the boom of e-commerce in Pakistan is due to GDP growth, infrastructure development and mega projects coming to the nation like C-PEC.
Businesses are coming up with marketing strategies to reach out their customers using digital and social media platforms. They come up with digital marketing over the internet due to cheap cost and an appropriate channel to advertise their business.
3G/4G LTE technology introduced by cellular companies across the nation helped boost e-commerce in Pakistan, Arzish Azam, CEO of Just Price remarked. He shared a figure of 2,000+ online stores is available in Pakistan.
Recent research shown by online shopping portal Kaymu.pk, users age 25-34 is marked the highest ratio in the form of potential buyers, backed up by 18-24 age group.
Many hindrances are still on the way, making E-commerce industry stagnant. Delays in the company registration process, the rising tax factor and almost half of Pakistan’s population still resides in rural areas are the key problems that need to get a priority fix.
Customer services and complaint mechanism with a quick delivery system for the customers must be given a priority to say good bye to offline shopping.