Ecommerce Market Place in Bangladesh: A Growing Industry

Posted By:skasif ,Mar 25, 2023

Ecommerce has been booming globally in the last few years, and Bangladesh is no exception. With the rise of internet usage and smartphone penetration, ecommerce has become a popular way of shopping for many Bangladeshi consumers. In this blog post, we will take a closer look at the ecommerce market place in Bangladesh and its growth potential.

Current State of Ecommerce in Bangladesh

According to a report by e-Commerce Association of Bangladesh (e-CAB), the ecommerce market in Bangladesh is estimated to be worth $3 billion by 2023. This is a significant jump from the $1.6 billion market size in 2019. The report also states that the number of ecommerce transactions in Bangladesh is expected to reach 2.2 billion by 2023.

Currently, there are several major players in the ecommerce market place in Bangladesh. Some of the popular ones include Daraz, Ajkerdeal, Bagdoom, Chaldal, and Evaly. These platforms offer a wide range of products and services, from electronics to fashion to groceries.

Growth Potential of Ecommerce in Bangladesh

The ecommerce market place in Bangladesh has a lot of growth potential. With a population of over 160 million people, there is a huge market for ecommerce businesses to tap into. In addition, the rising middle class and increasing internet penetration rate are contributing factors to the growth of ecommerce in Bangladesh.

Furthermore, the Covid-19 pandemic has accelerated the shift towards online shopping as consumers prefer to avoid crowded places. This has led to an increase in demand for ecommerce services and products.

Challenges Faced by Ecommerce Businesses in Bangladesh

Although there is immense growth potential for ecommerce businesses in Bangladesh, there are also several challenges that they face. One of the major challenges is the lack of proper infrastructure, such as logistics and payment systems. This can lead to delays in delivery and payment processing, which can affect customer satisfaction.

In addition, there are concerns about the authenticity of products sold online. Consumers may be wary of purchasing products online due to the risk of receiving counterfeit items. This highlights the need for ecommerce businesses to ensure that they are selling genuine products and providing reliable customer service.

Conclusion

In conclusion, the ecommerce market place in Bangladesh is a growing industry with a lot of potential. With the rise of internet usage and smartphone penetration, more consumers are turning to online shopping. However, ecommerce businesses need to overcome challenges such as infrastructure and authenticity concerns to ensure that they can provide a positive shopping experience for their customers. As the ecommerce market in Bangladesh continues to grow, it will be interesting to see how businesses adapt to meet the changing needs of consumers.