E-commerce has grown astoundingly in the world over the past few years. In Pakistan also, online shopping is growing steadily. Pakistan has been on a mission for a quite long time to raise its economy and making a cost-effective mission to achieve wide commercialization. To a great extent, IT has been succeeded in the development of individuals utilizing the web who have upheld this mission.
In the entire world, the expansion of e-commerce has made it feasible for economic development. Globally, e-commerce has developed tremendously in the past twenty years with development paces of deals remaining 13 percent which is equal to sales that were expected $2.9 trillion. In 2021, these figures are about to reach $4.5 trillion. As compared to 2017 and 2018, the growth of online shopping was 12 percent with a merit of $1.3 billion, while it was confirmed by several studies that in 2018 this online shopping hit 18 percent in Pakistan. It is expected, that by 2040, it is normal that 95 percent of purchases will be made and encouraged online. With a population of 208 million and several financial inclusion solutions, Pakistan is one of the largest unrealized markets of e-commerce in the world.
ONLINE ELECTRONICS SHOPPING RISE IN PAKISTAN
In 2020, the trend, to buy electronic devices online increased rapidly. Pakistan has appreciated the drive of web-based business through its youth, and quick development demonstrated its competency over the most recent approach and system. Q.mart.pk is one of the best online shopping stores that facilitate its customers to purchase electronic devices from one platform by just ordering online.
TOP ONLINE SHOPPING OF CLOTHES, MOBILES AND FOOTWEAR
In Pakistan, not only electronic devices, but online shopping of clothes, footwear and mobiles were also in top trends. People just want to get things by just clicking one time. Besides, due to the pandemic situation, it was risky to visit outside for shopping purposes. In those days, people facilitated themselves a lot with online shopping. The rise in an increase of order was going to happen because the fears about the corona virus pandemic grew in the country. COVID took everyone in this line by chance, as it was the necessity of every person whether a person lives in a rural area or urban areas.
Moreover, it was the best opportunity for the companies to get more clients by offering them good services. Not only Qmart store but other companies like Daraz and food delivery companies e.g. Foodpanda facilitated their customers more than ever to build the trust of their customers.
Online shopping provided Pakistan with the ideal way to cover a vast distance as they cover the process of social and economic development coupled with technological development in a short space of time. It is estimated in a report that in Pakistan there will be a 25 percent increase in web shopping in 2021.
THE FUTURE OF ONLINE SHOPPING IN PAKISTAN
- Pakistan’s online business has reached climax and hit the$1 billion mark by 2020.
- Revenue in the eCommerce market is projected to arrive at US$5,409m in
- The average revenue per client (ARPU) is required to add up to US$105.22.
- The market’s biggest segment is Fashion with a projected market volume of US$3,893m in 2021.
- Revenue is estimated to show an annual development rate (CAGR 2021-2025) of 7.5%, bringing about a projected market volume of US$7,236m by 2025.
- User access will be 22.8% in 2021 and is anticipated to hit 26.9% by 2025.