Top 10 E-commerce in bangladesh
Describes how widely e-Commerce is used, the primary sectors that sell through e-commerce, and how much product/service in each sector is sold through e-commerce versus brick-and-mortar retail. Includes what a company needs to know to take advantage of e-commerce in the local market and , reputable, prominent B2B websites.
Overview
The e-Commerce sector has seen dramatic growth since the early 2000’s when Bangladesh lacked widespread internet access or a reliable online transaction system. In 2009, the Bangladesh Bank, the country’s central bank authority, began permitting online transactions. In 2013, the Bangladesh Bank also permitted the purchase and sale of goods and services online using international credit cards. According to the International Telecommunication Union (ITU), the number of internet users has nearly tripled from 6.5 percent of the population in 2013 to 18.2 percent in 2017 and continues to grow. While only 2 percent of the population has a fixed-broad band connection, 30 percent of the population has a mobile-broad band subscription. Nonetheless, Bangladesh still ranks 147 out of 176 on the ITU’s ICT Development Index 2017, an annual report that captures the level of ICT development.
The eCommerce Association of Bangladesh (e-Cab), the trade body for eCommerce in Bangladesh, estimates there are 700 eCommerce sites and around 8,000 eCommerce pages on Facebook. Facebook remains a popular method for advertising and selling products, to a point that many businesses forgo creating websites. Ten billion taka in transactions take place on eCommerce sites per year according to a 2017 e-Cab report.
Currently, the following four types of eCommerce are popular in Bangladesh:
Business-to-Business (B2B)
Business-to-Consumer (B2C)
Consumer-to-Consumer (C2C)
Business-to-Employees (B2E)
In order to facilitate e-commerce and encourage the growth of information technology, the Information and Communication Technology (ICT) Act, 2006 was enacted. The ICT Act (amended in 2013) included provisions for imprisonment and/or fines for cyber-crimes. The enactment of the ICT Act has significant implications for e-commerce and mobile commerce in Bangladesh.
The growth of the industry has been inhibited by low usage of credit and debit cards (cash remains the major payment method) and the unavailability or restrictions on major online transaction sites like PayPal. In March 2017, Bangladesh’s central bank gave permission to state-owned Sonali Bank to launch online money-transfer services with PayPal in the country.
Additional challenges to eCommerce in Bangladesh include:
Inadequate delivery mechanisms
A relatively low internet penetration rate
The lack of a robust online transaction system
Prevalence of online fraud
Undeveloped online marketing practices
The lack of a robust privacy policy
Domestic eCommerce (B2C)
B2C websites have become popular in large urban areas, as evidenced by the growth of online food delivery sites like HungryNaki and FoodPanda. Highly congested roads and poor driving conditions have also helped drive demand for home delivery services. Other examples of B2C initiatives include Facebook-based commerce platforms such as Shopr.bd and ShoptoBd which allow Bangladeshi customers to purchase products from leading online shopping sites in the United States, UK, India and China, e.g., Amazon.com, ebay.co.uk, Amazon.in, and Alibaba.
C2C businesses are also growing. The leading players in this category include Bikroy, Ekhanei, and ClickBd. These sites are individual and auction-based online marketplaces similar to eBay. More recently, the C2C sector has seen some consolidation with Telenor Group purchasing CellBazar and Ekhanei.com purchasing playeOLX. Online employee recruitment is also growing, largely in the private sector. Leading online job advertisers and recruiters include: bdjobs.com, prothom-alojobs.com, and jobsA1.com.
Popular eCommerce Sites
Popular eCommerce websites in Bangladesh include:
Bagdoom
Bikroy
earifin
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