E-Commerce gains momentum

প্রকাশিত: 9:33 AM, November 4, 2020

E-Commerce gains momentum

Amdadul Haque:

Ecommerce has continued gaining momentum during this coronavirus crisis, creating fresh entrepreneurs in the country.


Although many sectors have been affected by the epidemic caused by the coronavirus, new e-commerce startup information is being received. As a result, new entrepreneurs are being created in this digital trading platform.


However, the use of technology has increased during coronavirus. With the introduction of home office system, a lot of work is now being done online. Discussion meetings, board meetings as well as bank transactions, documentation and bidding are being done online. According to Bangladesh Bank, the use of ATMs and POS has increased during the corona crisis period. Internet banking and card transactions have also increased.


Especially in the domestic market of Bangladesh, the scope of e-commerce has increased. According to the e-Commerce Association of Bangladesh (e-CAB), there has been an opportunity to supply daily necessities through e-commerce since last March when coronavirus detected in Bangladesh. So far, at least three thousand crore taka worth of daily necessities have been provided.


In all, e-CAB members have been delivered products worth Tk 16,000 crore in the last six months. Apart from this, many new startups are doing business through e-commerce.


At the time of the sacrificial Eid-ul-Adha, the online animal market has received quite a response. Onions and potatoes are currently being sold through e-commerce also.


Economists and businessmen said that the coronavirus is definitely a big blow to the economy. This has affected production and supply all over the world. Although some opportunities have been created in this. Bangladesh is getting some new markets and export orders for some new products are coming from different countries through online.


However, after the spread of coronavirus, the rich countries of the world are trying to get out of dependence on China. This has the potential to increase foreign investment in Bangladesh. Japanese entrepreneurs have already shown interest in investing. Besides, Middle East, Japan, Australia, Canada want to import products from Bangladesh. Even China wants to increase imports from Bangladesh.


Many companies have been affected by the deadly coronavirus. Many workers have been laid off. Many have come up with new initiatives to keep pace with the times. The government has also come forward to help entrepreneurs in the small, medium and SME sectors.


Besides, Tk 200 crore is being given through Karmasangsthan Bank on the occasion of Mujib Year to create new entrepreneurs.


Ashraful Islam, Director of the ukbdit.com, said the corona situation has created opportunities in two sectors. Firstly, some new products has entered in Bangladesh. Secondly, the type of work is changing around the world. This will increase the outsourcing demand of different countries. Bangladesh can be a big participant in this new online based service market. Therefore, it is necessary to increase the IT infrastructure and skills.


e-CAB General Secretary Abdul WahedTamal told the Bangladesh Post that e-commerce has potential always. The matter is now being realized at all levels for coronavirus situation. Massive demand has increased also. Now we need to improve the supply system. Necessary policies are also needed to increase cross-border business.


He said, “e-commerce has grown at a rate of 50 to 100 percent in the last few years. In the last six months, the growth has been 300 to 400 percent. The weaknesses in e-commerce in terms of payment and product delivery have also improved. ”


Ahsanul Haque Sahan, the Managing Director of the marketbd24.com, said, “New business is coming to New Normal. Because people now have to follow hygiene rules. As a result, e-commerce, online trading, internet banking are increasing. However, the government’s policy support is needed to enrich our e-commerce.”


“With the rise in sudden c-commerce, which is far safer and more convenient, I believe that visits to department stores or grocery shops will fall drastically in the near future,” Sahan added.