Ecommerce, commonly known as electronic commerce is buying and selling of goods or services over the internet, and the transfer of data and money to carry out these transactions. While digitalization helps to carry out these transactions easily without any risk of losing the money. Online shopping in Pakistan, which only a few years ago was not a common practice among the masses in Pakistan, is now the first choice of people of different age demographics. Online stores such as Getnow, Daraz, Losha and Buyoye are one-stop solutions with thousands of products only one click away.
Pakistan’s E-commerce industry has been estimated at PKR 99.3BN in FY18 and the industry is growing at a very rapid pace. With the rapid growth of the e-commerce industry many online stores, housing a large variety of products have popped up and Daraz.pk is one of the most credible of them, providing quality products at a competitive marketing price and a very easy exchange policy making it easier for the customers to shop.
Ecommerce and economy
The e-commerce industry plays a huge role in the economy of any country and with the digital Pakistan initiative, it is a step in the right direction for the growth of the economy. The e-commerce industry of Pakistan is in its initial days and we have a very long way to come anywhere close to the retail giants like PayPal, eBay, Amazon, etc. with the initiative like providing e payments, online banking and banks offering credit cards to the businessman, will ensure more safe payment options and security to the retailers and the customers.
Ecommerce has a positive effect on the economy, the use of modern technological means of a trade by countries makes the economy stronger and helps in its growth, and this is beneficial to the social, health and education sectors, and under the electronic commerce, it is possible to develop products as per its electronic nature, which increases sales and Increases corporate profits.
Online shopping in Pakistan can help us rebuild the basic infrastructure of the economy. Ecommerce provides opportunities for small businesses and entrepreneurs to directly sell their services. This provides more jobs and thus helps the economy, elevating the standard of living for the people. The direct relationship of retailers and customers has helped and online shopping stores like Telemart.pk have built a good relationship with their customers by providing good quality products at very economical and budget-friendly prices, keeping the customers hooked and coming back for future purchases.