The 21st century is an era of development and advancement. Every country in the world has progressed massively in the past two decades and the process continues. Along with other industrial sectors, the e-commerce business has grown rapidly all over the world. Just like developed countries, the developing countries like Pakistan also show a great potential in this sector. In fact, it continues to grow at an overwhelming pace and refuses to stop. We will be analyzing some facts and figures along with the reasons for an amplifying growth.
What is the E-commerce Growth Rate in Pakistan?
I won’t be wrong if I say, the e-commerce industry isn’t growing, but thriving in Pakistan. The statistical results show the industry is already making millions of profit. The figure is expected to exceed $1 billion in the coming three years. This is something worth-noticing!
The industry took inspiration from the world renowned online market known as Amazon. It followed the same pattern and introduced some online stores such as Daraz.pk and newly launched BuyOye.pk. These online marketplaces became popular within a year because they facilitated customers with pretty much everything they needed. The services weren’t confined to selling mundane items such as clothes and accessories, but it also involved remote bookings and selling expensive home appliances.
Why People Love Shopping Online?
The developers thoroughly studied the customers’ mind before introducing online stores. People love saving their time and energy and that’s what e-commerce business provides them with. No pain of traveling, spending on fuel cost, and facing market chaos; just sit with a laptop, select a product, and wait for a few days to receive it. It’s such a luxurious facility that wasn’t possible before.
Especially in the developing countries like Pakistan, going out in the market is a tedious process. People have to face a troubling traffic and damaged road condition to reach the destination. It’s a blessing to order things online and receive them at doorsteps.
What is more, there’s no need to worry about timings. The online shopping is available 24/7/365, so buy any day and shop at absolutely any time you want. Be it 3 am in the morning or 3 pm in the afternoon, the choice is absolutely yours! Apart from that, an access to the Internet has become common in Pakistan. Every individual has his or her own 3G or 4G mobile Internet data. This is one of the reasons why online shopping has become easier than ever. According to a report, approximately 75pc of the collective volume comprised of smartphone usage in Pakistan. The research further claimed that Karachi, Lahore, and Islamabad contributed the most to this volume.
The growth is continuous due to a massive population of 2 million. Since the majority of the population is the Internet user in the country, the growth of the e-commerce industry will increase. The time is near when Pakistan will be among those countries where the e-commerce industry has surpassed other sectors.