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Dhaka Tribune

Study: Bangladesh e-commerce sales to double by 2026

The e-commerce market size in 2021 was about Tk56,870 crore and will be around Tk150,000 crore by 2026

Update : 18 Sep 2022, 05:14 PM

The business-to-customer e-commerce market in the country is expected to grow by 17.61% on an annual basis, aimed at reaching Tk65,966 crore in 2022, according to a recent market research.

The e-commerce market size in 2021 was about Tk56,870 crore and will be around Tk150,000 crore by 2026, said Dublin-based trade research institution ResearchAndMarkets.com.

According to the institute, the report "Bangladesh B2C Ecommerce Market Report 2022" included registered e-commerce companies, non-registered online platforms and social media-based trading pages.

Products and services cover retail shopping, travel and hospitality, online food service, media and entertainment, healthcare and wellness, and technology products and services.

According to a report by the e-Commerce Association of Bangladesh (e-CAB) last year, there were more than 2,500 e-commerce platforms in Bangladesh, of which 1% are large businesses, 4% medium, and 95% small businesses.

Some 1,600 e-commerce entrepreneurs were e-CAB members.

The e-commerce platform Evaly commenced its operations in Bangladesh late 2018.

The platform soon became a major market player by offering various lucrative offers and huge discounts.

Evaly was, however, later charged with fraud and corruption and its operations are currently suspended.

Similar allegations were raised against several other e-commerce platforms, including Alesha Mart, Eorange, Qcoom, Dalal Plus, Dhamaka Shopping, and Sirajgonj Shop. Most of the embattled sites are now shut down.

In 2018, the government published a digital commerce policy as a guideline for e-commerce websites and to ensure consumer rights.

In June 2021, the Bangladesh Bank introduced the payment gateway 'escrow service' to ensure customer rights and stop fraudulent activities.

According to an official of the Bangladesh Telecommunication Regulatory Commission (BTRC), there are nearly 50,000 Facebook pages that sell or supply products retail and wholesale in Bangladesh.

The official estimated that the annual tax and value added tax (VAT) of these Facebook-based ventures could be as much as Tk10,000 crore.

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