The e-commerce industry of Pakistan has seen an economic boom over the past couple of years due to the rising trend of online shopping. The industry which was initially started just as a source of carrying out financial transactions, ultimately transformed into a new avenue for Pakistanis to buy and sell online. The IT and telecom sector have jointly contributed in providing the building blocks for e-commerce to develop. Currently, the industry which is standing at the value of around $30 million dollars is speculated to make high revenues in the near future and would worth $600 billion dollars over the span of next five to ten years. This positive figure is a morale booster not just for our corporate and business community but also to the target market which is the driving force for empowering this sector.
Attractive Market Segments
The introduction of 3G and 4G technology and low mobile internet packages by the telecom sector have resulted in wide access of internet across the country. There is a vast majority of youngsters who are the major users of internet who spend more than an hour over the internet. Though they all fall into the target market to buy online in Pakistan, yet there is a huge potential of prospective customers from other market segments as well.
Considering the fact that broadband penetration has also reached to more than 16% of internet users in Pakistan (which is still low comparatively to the population size); the popularity of internet shopping is continuously rising as more and more people are getting acquainted with the concept. This facility to purchase things while you sit comfortably at home is especially attractive for the elders who are reluctant to go for hectic shopping. The only barrier between them and this mode of shopping is the familiarity with technology gadgets like tablets, laptops, and even Smartphones.
Comfort & Convenience
There is a huge competition shaping in the e-commerce sector as more and more e-commerce sites are coming on the scene. These popular sites such as dealtoday and recently launched Buyoye.pk are offering great value addition for Pakistani masses and making their lives easier. These sites have various types of deals, discount offers and sales for each product category which makes the shopping more budget friendly for usual customers. People find it more comfortable and relaxing to search and find the products online while they can easily check and compare the prices before buying. This facility was never available through local retailers and they also had to limit their choice sets.
In Pakistan, shopping is considered quite a hectic activity as you have to deal with long queues, traffic jams and lack of stocks available at your favorite brands. In that case, a user can easily shop online for their favorite brands, book them online and enjoy the perks of online shopping with cash on delivery service. This convenience of saving time, money and effort to go for buying products is very relaxing for the masses. Now as they can order online with the secure option of paying in cash while they deliver at your doorstep, online shopping is gaining popularity among the masses and hopes to have a bright future.