The ongoing pandemic has locked the entire world inside homes but that does not mean the demands have gone from the market. Merely the shoppers have adopted the situation and shop online and for that the e-commerce sector is booming around the world. The sector is also thriving in Bangladesh and expected to hit USD 3 billion mark by 2023.
Local shoppers during the Covid 19 period log online for buying different things. As a result, e-commerce is booming around the globe including Bangladesh. Shopping online is on the rise. Transactions are also increasing manifold. It is known that online sales have increased by 70 to 80 percent compared to the regular time. Millions of people have been employed in this sector. This business is expanding rapidly.
As a result, the e-commerce market in Bangladesh has exceeded one and a half billion US dollars, according to the German-based research institute Statista, expected to reach at two billion dollars this year and three billion dollars by 2023.
Along with hundreds of entrepreneurial organizations, about four lakh women entrepreneurs are also selling products on Facebook and in other online based platforms. In this case, the government has included product delivery as an emergency service. Even in the time of Covid19 pandemic, people are buying most of the daily essentials including cattle for both Eid Ul Fitr and Eid Ul Azha. Online usage has increased by fifty percent during this time.
According to official government statements, five lakh people will be employed in Bangladesh e-commerce in the next five years. E-commerce companies are working tirelessly to provide services. Hopefully, e-commerce, the marketplace, logistics services together have created the strong potentiality for youths. A lot of women entrepreneurs have also been benefited by launching online business dealing in clothes and cosmetics.
Mohammad Abdul Wahed Tamal, general secretary of the E-Commerce Association of Bangladesh (e-Cab), told that online business is doing very well now. In a word, e-commerce has been revolutionized during the Covid 19 pandemic. The growth of online sales has increased by 70 to 80 percent compared to the previous time. However, buyers are not purchasing all kinds of products yet. They are buying more essential products. He also said that the e-commerce or online shopping market across the country has crossed TK 6,000 crore.
It is learned that people are now ordering their favorite products online from home as large gatherings in shopping malls or restaurants can cause serious health threats. Shopping for all kinds of products including medicines, clothes, food are done from different online platforms. Although financially marginalized and lower-middle income families are still market oriented, middle class or upper-middle class people are shopping more through online.
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