Building a robust industry such as e-commerce can definitely give us the edge in global trade
BIGSTOCK
Tribune Editorial
Publish : 31 Dec 2021, 12:58 AMUpdate : 30 Dec 2021, 09:58 PM
While the e-commerce scene in Bangladesh is fairly new, and while it faced its own roster of setbacks in recent years, there is no doubt that it is a sector in Bangladesh that is still growing and has much to offer our economy. While the industry has been criticized for fraud and unsustainable business models -- and rightly so -- it is encouraging to see the recent policy guidelines and the strong market confidence in this new sector, which is paramount for the rise of this new industry in Bangladesh in the years to come.
While online shopping has been a hallmark of Bangladeshi cyberspace for the better part of a decade, people fully started to embrace this eco-system towards the start of the pandemic. Aside from getting everything from groceries and clothes from the comfort of one’s own homes, e-commerce chains have delivered considerable value to their customers by selling things that are hard to come by in brick and mortar shops, and working on their supply chains to sell things at a discounted rate.
The growth of honest e-commerce sites has been unparalleled, and from the home delivery of food to the democratization of foreign books, the online sales of this sector rose about 70% in 2020, and the market size of this industry is $2 billion as of August of this year.
This is a trend that has to be encouraged and maintained. It is good to see the government regulating the market and encouraging people to invest in them -- a step that should have been taken earlier but is welcome nonetheless. The government needs to work with relevant stakeholders and make sure this industry becomes a highlight of tomorrow.
Building a robust industry such as e-commerce can definitely give us the edge in global trade and in building towards the Bangladesh of tomorrow. Let’s make sure that this opportunity is availed.
Building a robust e-commerce industry
While the e-commerce scene in Bangladesh is fairly new, and while it faced its own roster of setbacks in recent years, there is no doubt that it is a sector in Bangladesh that is still growing and has much to offer our economy. While the industry has been criticized for fraud and unsustainable business models -- and rightly so -- it is encouraging to see the recent policy guidelines and the strong market confidence in this new sector, which is paramount for the rise of this new industry in Bangladesh in the years to come.
While online shopping has been a hallmark of Bangladeshi cyberspace for the better part of a decade, people fully started to embrace this eco-system towards the start of the pandemic. Aside from getting everything from groceries and clothes from the comfort of one’s own homes, e-commerce chains have delivered considerable value to their customers by selling things that are hard to come by in brick and mortar shops, and working on their supply chains to sell things at a discounted rate.
The growth of honest e-commerce sites has been unparalleled, and from the home delivery of food to the democratization of foreign books, the online sales of this sector rose about 70% in 2020, and the market size of this industry is $2 billion as of August of this year.
This is a trend that has to be encouraged and maintained. It is good to see the government regulating the market and encouraging people to invest in them -- a step that should have been taken earlier but is welcome nonetheless. The government needs to work with relevant stakeholders and make sure this industry becomes a highlight of tomorrow.
Building a robust industry such as e-commerce can definitely give us the edge in global trade and in building towards the Bangladesh of tomorrow. Let’s make sure that this opportunity is availed.