With the latest advancements in digital technology; the world has shifted its focus towards adapting the latest E-commerce and trade opportunities. The entire world is now at our fingertips and with just one click of the button; you can have access to literally everything you are looking to browse or buy.
In the current scenario of the entire world being hit by a pandemic; the role of E-commerce has caused quite a stir everywhere. With new innovations; the conceptualization of a global world has come to life, hence leading to the creation of a virtual space where sellers and buyers can unite and exchange services and goods.
Though the E-commerce market is booming across the globe; it has yet to reach its full potential in Pakistan. However, trends are changing now and we have seen a noticeable and steady rise in the E-commerce business in Pakistan. In 2018; the E-commerce industry in Pakistan has seen a growth of approximately RS. 99 Billion As compared to 2017 where the statistics were close to RS. 51 Billion.
Why E-commerce is important in stabilizing the economy of a country? One of the many advantages E-commerce has to offer is that it majorly contributes towards improving the living standards of the people, as well as, building a competitive online market, thus creating maximum opportunities for both retailers and consumers. Moreover, E-commerce serves as a bridge between Pakistan and the global trade market of the world, hence, closing the digital divide between the countries.
Every renowned brand in Pakistan has shifted its emphasis on launching its own E-commerce store with COD and Credit card payment and easy delivery methods. No wonder; we have seen a whopping increase in E-commerce business in Pakistan within a time frame of only 10-15 years.
As a result; different E-commerce agencies have also raised the bar high by providing these brands every online support they need in terms of setting up their own online stores, website maintenance, performance marketing, and ensuring maximum revenues. With the ongoing trend of online shopping; the trend of setting up an E-commerce business in Pakistan is here to stay.
The youth of today is more internet savvy and is happy to embrace this technology in every way as compared to the older generation. Therefore, E-commerce businesses in Pakistan can serve the purpose of creating more employment opportunities as more and more are inclined towards setting up their own brands online.
Digital financial services, Omni-channel integrations, increased cellular subscriptions, social media, development of apps, online courier bookings, and use of E-commerce tools in a proper way can give a valuable boost to set up successful online businesses for everyone.
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However, every new trend comes with its own set of challenges to tackle with. With the rise of E-commerce business in Pakistan; one of the major issues that many online business owners encounter is the privacy breach factor as the internet is an open space and can be unsafe and easily accessed by hackers. The need to introduce safe and secure E-commerce methods is important for any business, small or new to develop and flourish in the competitive market.
Technological developments in today’s world know no limits. Therefore, the possibilities of launching business-to-business (B2B) activities for traders and manufacturers, online buying and selling, setting up online retail outlets, and integration of multiple apps with an electronic network within a reasonable budget has added great value to the E-commerce sphere in Pakistan. People have embraced the trend of E-commerce wholeheartedly and hundreds of retailers, ranging from clothing and shoe stores to electronics, from industrial equipment to food connoisseurs, from marketplaces to selling digital services; it’s all about E-commerce now.