Future of E-Commerce in Pakistan
Many years ago, the idea of going online to purchase an item was as strange as erecting a ladder from the earth to the sky. It is inconceivable that a time will come that you will seat in your pajamas at home and open a laptop to make an order for your dress or groceries.
Well, the rest is history. You don’t even need to wait to get to your laptop before you make your order now. Right on your mobile device, you can open an e-commerce app and make an order for anything. That is right, just about ANYTHING.
The Current State of E-commerce in Pakistan
Online shopping in the global space has become the norm. Nobody wants to enter a shop to buy anything now. Store owners have also learned their lesson; if you are not online, you are not in business. Pakistan is not left behind in the current wave of e-commerce.
On a daily basis, international products are imported into Pakistan through different e-commerce platforms. Of course, the local retailers are also getting involved in the e-commerce business. No doubt, Pakistani consumers are becoming smarter. They have started developing their distinct interest and trust in the different e-commerce stores that they consider reputable.
There are many online stores that deliver substandard quality even though they have high-quality products displayed on their sites. These e-commerce platforms have jeopardized the trust that Pakistani consumers have in them. Only online stores that offer original products remain the choice of many online shoppers today.
The success and popularity of these websites have shown that online sales is the future of retail in the world. Many consumers in Pakistan are embracing the online store and this could be seen in the amazing turnover of the retail sector.
The Trigger for the Potentials of E-Commerce in Pakistan
The radical change in online shopping in Pakistan is the outcome of the penetration of the Smartphones and internet. Currently, there are more than 30 million internet users on a daily basis and the number is increasing by the day. Twitter and Facebook are the most common channels used by residents of small towns and cities.
According to report, more than 73% of the population now have access to mobile phone. Smartphone users are put at about 9 million. To cater for the emerging Smartphones users, many e-commerce platforms in the country are developing mobile apps to enable consumers to explore the different stores through their mobile devices. The high penetration of internet-enabled mobile devices has continued to raise the bar in the growth of e-commerce industry in Pakistan.
Currently, the most popular means of payment for e-commerce is Pay on Delivery. This is actually one of the reasons for the growth of the industry. With pay on delivery payment method, consumers have begun to trust online stores. Alternative payment options are bank transfer and easy paisa, and these are used for large orders. The growing trust in e-commerce in Pakistan has the direct impact on the acceptance and increase patronage of the platform.