Pakistan’s economy deteriorated several years back, but recently, the government is introducing new reforms and ideas not only to stabilize , but also to maximize the generation of profit. Due to lots of work being done in the IT sector of Pakistan, it’s booming at its best. The Express tribune quotes:
“The country’s IT industry is set to double by 2020, said the CEO of Pakistan’s national technology fund, increasing from the current worth of $3.5 billion to $7 billion.”
Pakistan’s Potential in online marketplace
Due to the vast commercialization agenda of government for the economy boost of Pakistan, IT industry has proved its potential many times ahead of time. When we talk about exports in Pakistan’s software industry, according to the state Bank, currently Pakistan’s exports have reached worth of $700. Registered software and hardware input in economy is worth of 1 billion dollars.
Moreover, E-commerce sites are the main focus of IT industry. As E-commerce growth has been exponential at the global level, especially in past 12 years, recent expected sales worth is $4.5 trillion.
Future of online shopping in Pakistan is extremely bright, as Internet gets its root deepened within the population of the country, people are experimenting more and more via the internet. Online shopping is one of the perks that has been bestowed by internet upon people around the world. Pakistan is one of the favored country, people love shopping and be in trend on the daily bases, especially on weddings or other events.
Calculations from the Pakistan Telecommunication Authority (PTA) uncovered that the absolute 3G versatile memberships has ascended to 10.3 million since 2015. The quantity of 4G or Long Term Evolution (LTE) supporters, likewise, expanded to more than 68,000. Pakistan's greatly anticipated section into 3G and LTE administrations in 2014 has expanded web availability, and will undoubtedly increase the development of online shopping.
Impact on Online Shopping Pre & post Covid:
Human psychology states that people tend to attract towards the most convenient and easy ways. Post COVID-19 lifestyle had already become confusing and unexciting. Globalization has already provoked people to explore and connect through clicks. As IT is flourishing and creating new, easy and convenient pathways for people, they are getting more excited and adaptive. Usage of E-commerce websites is one of the key examples. Online shopping stores in Pakistan cannot be compared with other leading e-commerce sites like Amazon, but progressive economic growth showed the potential of Pakistan in digital media market. But we can say that this pandemic brought a whole new chance of booming the future of ecommerce sites, not only in Pakistan, but globally too.
This blog will cover all the aspects and points about why? How? And what is the future of online shopping in Pakistan? Such pointers always captures people’s interest.
- Online modes of payment
- Product delivery infrastructure and logistics
- Whole new perspective of E-commerce in Pakistan
- Increased trust & dependency E-commerce
While doing online shopping from e-commerce stores, the most convenient thing people love is to pay after the product has been delivered. The most famous pattern among Pakistanis for payment is “cash on delivery” (COD), but there are many more initiatives taken to create new avenues for payment i.e. east paisa, interbank transfer etc. Most online shopping stores in Pakistan Offer cash on delivery (COD) i.e. Juglo.pk, HappyShopping.pk etc.
Many banks and telecom operators provide platforms that allows online money transfer banking, which has increased online purchases because of security and convenience.
Online shopping allows online sellers to access more electronically with the consent of buyer to collect payment via debit card.
Pakistan has a very strong and wide spread chain for delivery parcels and mails. There are many delivery agencies that are either government, semi government, or private. Many big companies are taking over now, like Leopard, TCS and many other are exceling in providing secure, fast, and reliable services. Now, online shopping stores in Pakistan are use using platforms like these delivery ports to send parcels to their customers.
As Larry page, Co-founder of google quoted:
“Always deliver more than expected”
Logically stating, more than 35 % of parcels are delivered to smaller cities than big urban cities like Lahore, Karachi and Islamabad. This shows how Pakistan’s dynamics of shopping has changed till date, in comparison to other progressed countries, Pakistan is showing their worth in nature of trends and technological progression. People can even order groceries through E- commerce sites like; fresh fruits, fresh vegetables, canned and frozen food etc.
Daraz.pk and Juglo.pk are one of the leading e-commerce sites where all these trends are used and entertained.
All new horizon of E-commerce sites in Pakistan have shown lately, as new international investors are putting more and more trust in Pakistani E-commerce industry. New ways are being established for local online retailers to create new perspective business for themselves and for people of the country. Rozee.pk, juglo.pk, daraz.pk, food panda, tripda, and many more will boost the E-commerce industry in Pakistan.
Smart phones and access to internet is allowing people to shop online, which it is a very drastic but positive change. People, even after lots of misconceptions, still shop online in Pakistan and utilize online sites to pick and choose products. Even after a low literacy rate, less technology access, low internet access, and bounded infrastructure.
When it comes to Pakistan, online shopping has been really hard because of limited resources. Back when the concept of online shopping was introduces in Pakistan, people didn’t trust and rely on it, because of certain queries in their minds. But now, the environment has totally changed, as the younger generation is keen to gain knowledge about this phenomenon, and they are not scared in experiencing new technology and new trends.
Pakistan built its potential market, built up reliability, and enhanced its credibility. Many online brands like Olx set great budget on advertisements on social media as well as mainstream media to attract buyers, which a great strategy that can target buyers via digital marketing. There are many trusted online stores in Pakistan which are reliable and can be trusted, since people have indulged themselves in online shopping.