Pakistan is consistently being included among the quickest growing e-commerce markets within the world. Presently estimated at over $120 million, the country’s e-commerce sector is multiplying in size per annum, growing at a compound annual growth rate (CAGR) of over 100 percent. As per Google’s analysis, this trend can continue throughout successive 3 to 5 years and help the arena surpass the $1 billion mark in 2020. Pakistan’s internet penetration – estimated at eighteen presently – is that the real help for the recent growth in e-commerce.
This was expressed by Salman Hassan, chief executive officer – TCS ECOM. With growing web penetration, accessibility of smartphones and slow but steady increase in awareness, the longer term for e-commerce in Pakistan looks bright.
About the scope of e-commerce in Pakistan, He said the long run growth of this sector was the thought in mind once TCS came upon TCS e-com as a separate entity 2 years ago. The company understood that e-commerce was an entirely new market and a high growth space for the longer term and we committed to taking TCS forward into this exciting and fast business.
Scope of E-commerce in Pakistan
“We are also observing lots of foreign interest in Pakistan’s market potential, including one of the first being Rocket internet of course and currently we’ve recently seen Alibaba Group’s interest in investment in Pakistan ‘s e-commerce sector – with potential collaboration opportunities being of great interest to all the relevant stakeholders,” Hassan said, adding that government is additionally taking appreciable interest in this sector by putting in joint public and private working teams for policy development. TCS is proud to be one in all the 3 companies invited from the private sector for this landmark initiative.
He aforesaid there are lots of massive players within the market. However, the Yayvo business model is incredibly different. We tend to believe that Yayvo isn’t a typical e-commerce company but one thing more as we have the support of the nation’s largest logistics conglomerate that ensures that our customers receive their orders and purchased the product in a higher and quicker manner than anyone else.
Replying to a question, he said globally, e-commerce has seen a number of various innovations. These include drone delivery, increased reality technology that provides a 3D shopping experience for users, and therefore the use of digital payment platforms to ease money transactions for purchasers. in addition, e-commerce has additionally contributed to the gradual extinction of physical wallet usage whereby upgrades to consumers’ mobile devices and merchants’ location systems can spell the end of the standard wallet.
We feel immediately that quickest delivery is the biggest distinction maker for purchasers in Pakistan.
When asked what area or niche he assumes is yet to be explored, he said the e-commerce business has lots to get, explore and learn. At Yayvo, as we tend to progress, we might wish to transcend our reach and explore all potential options, be it drone delivery, NFC payment solutions, and even take into prospects never discovered before.