Zahra Shouakt
E-Commerce the trending way of business As the technology is gaining fame it turns the world into the era of globalization. Now more and more people are interacting and establishing the strong connections of huge businesses. No industry is working in isolation. Partnership and compliances within to approximate industry and between different industries have now captured the market. In this increasing business trending, the word E-commerce is echoing in everyone’s mind. E-commerce is the term that is growing day by day in the developing countries like Pakistan for the past decades.
This industry has lots of potential and growth in Pakistan. In Pakistan, the worth and importance of e-commerce market can be easily understandable by this latest research that shows the rising trend expected to be reached over US$600 million by 2017.It is one of the best ways of generating revenue.E-commerce allows consumer to electronically exchange goods and services without the restriction of time or distance.E-commerce makes our life so much easy that it makes our business to grow within the short time duration.E-commerce makes our life so easy to live by providing the services in the form of online shopping, electronic Online payments, online auctions, internet banking, online ticketing, for E-Commerce inventory management system, automated data collection in many more fields.
Basic categories of e-commerce are:
Business to business e-commerce (B-2-B)is between the two business parties. Means that the person involved is called as manufacturers, traders, and retailers.
Business to Consumer(B-2-C) is when business is done with the party called as end consumers, it is called as Business to consumer e-commerce.
Consumer to consumer(C-2-C) is the old system of business called as barter is a form of the consumer to consumer e-commerce.Auctions sites are a good example of Consumer to consumer e-commerce.
The Merging of terms with E-Commerce:
The internet is the platform that now every user is using.The technology has updated and making the awareness among people so more and more users are getting facilitated by the e-commerce sites.Now two major for e-commerce.
M-Commerce is the short form of “mobile commerce “ that is used with respect to e-commerce.The rapid use of mobile devices with internet provide access to the retailers.
F-Commerce is the short form of “Facebook commerce”.Now e-commerce is also associated with Facebook.Now more and more people are making pages and sell their product even the properties are also sold through the Facebook.The immense popularity of Facebook now makes possible for the people to divert their attention towards business.
Popularity and Promising Future of E-Commerce in Pakistan
Pakistan makes its name day by day in e-commerce. As the world is changing into globalization almost 78% of e-commerce activities are noticed in the USA. Now the people in Pakistan are also much aware by the term e-commerce that really fascinated them in point of business as it is easy and low price way of doing business.With the total population of near about 195 million people in 2016, Pakistan is the only south Asian country that has its name in the rising e-commerce industry.Pakistan is going to be one of the tenth economies that will be contributing to approximately $4.3 billion to the global GDP in the next ten years.Although Pakistan is facing challenging but still producing its name in the e-commerce industry for making its future brighter.
Foreign Investment
Foreign investors are taking more and more interest in utilizing their resources in Pakistan.Now Foreign investors are allowed to invest 100 % in software companies and in many other companies.They are launching their products by using the facilities of e-commerce.Localenterpreneurs have setup their call centers to facilitate the foreigner customers and retailer for funding more in the Pakistan commerce industries.
Increasing Population ratio and expanding market trends
In Pakistan now the population is more educated and know the better use of technology.The young and energetic people are coming more quickly and capturing this industry.They are expanding their market by providing good business problem solutions solver for the others.They are utilizing their energies in the positive aspect which does not only brighten their future but also creating the name of Pakistan in an international market.
Increasing entepreneurial Culture within the boundaries of Pakistan, the trend of entrepreneurship is getting famous in Pakistan.People startup business like Travly, ShahiSavari and the most famous first Pakistani Rickshaw service “Uber.com” is one of the great examples of letting the e-commerce at its peak in Pakistan.Yoong and energetic entrepreneurs are producing their name by also educating the students online and providing them platforms of self-earning too. Webinar culture is rapidly covering the market.
E-Commerce is taking its horizons in Pakistan, Many local players such as Shophive, Homeshopping, ROZEE, Just4girls.pk and Pakwheels also with the giant foreign investors such as Rocket internet with their vast online initiatives such as Jovago, Tripda and Foodpanda are all putting their efforts to establish their market share in the emerging e-commerce industry along with their respective domains.
Many other home and locally based business have flourished through the massive use of Facebook pages as a result of the rapid use of the internet, smartphones, Cash on Delivery and IBFT services and growing ratio of online shopping, online .placing food online.Many other social media sites are also providing the marketplace to hold for the Pakistanis to get success in e-commerce industry such as Instagram for promoting advertisements and many other social sites.
OLX brand is also launching its app and significantly begun the advertising budgets for mainstream media advertising.
Online Platform capturing e-commerce industry such as Kaymu is the largest online marketplace, having the aim of providing the single place for the buyers and sellers across the globe to buy and sell just in a single place by just clicking the mouse.
This online market has successfully generated a large amount of traffic in many domains.
Kaymu has multi-dimensional domains spread across many countries worldwide. Other e-commerce sites that are generating great revenues in the field of e-commerce in Pakistan are
• HOME Shopping
• Daraz.pk
• Mega.Pk.
• Shophive.com
• Azmalo.pk
The Pakistani e-commerce industry is now a day, no doubt booming throughout the region. More than $30 million are being spent online purchases currently in the country which shows that Pakistan e-commerce market would cross the limit of $600 million by 2017. The major targeted cities of Pakistan e-commerce are
More than 50% of e-commerce transactions are carried out in three major areas of Pakistan.
• Lahore
• Karachi
• Islamabad &Rawalpindi.
Other are
• Gujranwala
• Sialkot
Pakistan has a brighter future in e-commerce.Pakistani e-commerce industry is waiting for the best hit of 2017. Many banks and telecom industries have now introduced the concept of branchless banking and branchless banking agents are facilitating offline payments for online purchases have recently tripled ,making much more convenient to transfer money in a secure environment.The IT minister also announced that in November they will make the e-commerce regulations more easy by inviting online payments giants PayPal and Alibaba to the country. All these positive aspects are making the e-commerce industry future more shiny and flourished.Pakistan is progressing towards a good future horizon in the year 2017.
