Bangladesh is one of the many places globally that has embraced online shopping. Reports from the Bangladesh e-Commerce Association shows that there more than 1,000 online entrepreneurs in the whole country who run their business through their own websites. Additionally, more than 8,000 different entrepreneurs are using Facebook i.e. the f-commerce. Although only a few of these businesses are officially registered, these number is steadily growing.
Advantages of Online Shopping
Shopping online has become the most used mode of shopping especially for individuals that are tech-savvy. Compared to the conventional way of shopping, online shops have a lot of benefits and that’s why its popularity has rapidly grown. Some of the benefits of online shopping include:
- They offer shoppers ease and convenience: This is the biggest advantage of online shops. There is no time or physical limit. Online shops are usually open 24/7 which means customers can shop at any time.
- Affordability: If you want cheap deals on products, simply go online. The cost-effectiveness of products that are sold in e-commerce sites is because items are directly obtained from manufacturers.
- Wide Product Range: In the world of online shopping, there is no limit. There are millions of products which offers customers more variety.
Growth Rates and Use Statistics
The growth rate of e-commerce in Bangladesh has grown in large numbers. Unlike before, there are currently new business entrants, more genuine e-commerce shops and more people are now aware of what technology can do. The increase on internet penetration (i.e. 5 percent), as well as mobile penetration i.e. 23 percent, has given e-commerce a growth rate of over 200 percent with e-ecommerce sales reaching over $38 million as of 2016 from 2013. Additionally, a huge percentage of people, about 71 percent, often use a laptop device or computer. This is followed by mobile phones at 26 percent and then tablets standing at 3 percent.
Research studies conducted by U-lab indicates that transactions for online shopping bd had grown by more than 70 percent as of 2016. The top e-commerce transactions were Business to Consumer which had about 90 percent in transactions. Young individuals who are tech-savvy formed the highest group of online shoppers i.e. between ages 25 to 34. Note that most buyers and customers opted for cash on delivery payment although this is gradually changing as new forms of online payments emerge.
Most Trending Products to Sell Online
The e-commerce for online shopping bd shows that most clients usually search for mobile phones and electronic products like cameras, laptops, headphones, entertainment systems among others. Globally, some of the most trending products which most sellers go for are healthy drinks and foods such as diet supplements, designer clothing, makeup and perfume, toys, video games, and books.
Popular e-Commerce sites
Banglashoppers is a popular e-commerce site in Bangladesh that sells Makeup and other skin care related products. The e-commerce site which sells authentic products covers all types of warranties. The cosmetics sites sell products under sections such as Makeup Shop which contains face, lips, eye, and nails make up among others. The Kids & Baby Shop has baby oil and lotion while the Perfume Shop has products for both genders including air fresheners.
There are shampoos, conditioners, styling spray, and gel etc. in Banglashoppers Hair Care Shop. The Health and Beauty Shop has skin care and hair care products. Additionally, there is also a Grooming Shop, -Bath & Body Shop plus Fashion Accessories. Banglashoppers has made online shopping bd to be an exciting experience that offers users convenience and wide product variety. The Makeup shop imports its products from high-end fashion brands such as Mary-Lou, W7, Ofra, & Jeffree Star among others.
According to surveys, other popular e-commerce sites in Bangladesh are:
It’s an e-commerce site that features millions of items. Daraz sells household products, clothes, and electronics among others. The trusted and reliable site has changed the game of online shopping bd. It features products with the latest trends and provides countrywide delivery.
This online shop has everything that you need. From winter to summer collection, daily needs to events, Bagdoom stocks every kind of item that you need. It has apparels and jewelry that are suitable for kids, women, and men. There are also home appliances, home décor products, home electronics, and many others.
Based in Dhaka, Chaldal has grown to be one of the best sites for online shopping bd. It provides customers with convenience add cos friendly products including even eggs. Additionally, Chaldal guarantees customers product delivery right at their doorsteps.
Disadvantages of Shopping Online
Affordability and convenience are some of the factors that usually attract people to online shops. However, purchasing of products online comes with its own risks. There are various security issues which a lot of buyers face. Disadvantages of shopping online include:
- Online fraud: A popular online fraud is usually scams related to credit cards. Additionally, consumers risk getting hacked, receiving counterfeit products, phishing, illegal websites as well as identity theft.
- No physical contact: With online shopping, you can’t touch a product physically. This means that there are high risks of buyers buying an oversized or undersized product when it comes to clothing or shoes, a damaged electronic gadget etc.
- Lack of sales or customer care assistance: When you are buying a commodity online, it’s just you and the user interface. There’s no one you can consult or question for assistance.
E-Commerce isn’t going to slow down anytime soon. And as technology grows and keeps on changing, consumers, as well as sellers, should expect more of online shopping. Additionally, various mechanisms are being designed and implemented to ensure that the level of fraud is as minimal as possible.