Future of E-Commerce in Pakistan

The most used word E-Commerce in Online Buying and the Future of E-Commerce in Pakistan is as described below along with detailed Buying and Selling Online through E-Commerce in Pakistan. Online Shopping is quite beneficial and easy to put into practice that not only saves your money but time too. E-commerce stands for Electronic Commerce. With the revolution of the internet, the usage of the internet has increased a lot. It has changed the overall working and living style of the people. It has a great impact on many fields of life. It has converted the world into a global village.

E-commerce basically means doing business online. It includes selling, buying, advertising, and contacting buyers and users through the Internet. In more detail, we can describe Ecommerce as using the techniques and tools of the internet in one’s business for several purposes like offering a retail shop online, choosing a product from visiting the online store, and then making payments online. Order can be placed for some products and they are delivered to the doorsteps of the user and payment can be done by cash.

Future of E-Commerce in Pakistan

Globally, all organizations are finding ways and tactics to increase users’ online shopping experience and encourage them to shop there rather than go to a physical store. Like, LG introduced a refrigerator that has its own built-in computer assistant for aiding buyers in online shopping grocery stores. E-commerce is contributing an overall $4 million every year.

E-commerce is a business with a very low initial capital investment so an estimate is done that in the near future, 25% of business will be converted into online business centers. The following points can be taken into consideration for realizing the future of E-commerce in Pakistan.

• The trend of e-commerce can be observed as the fastest-growing business in the world. To start speeding up E-commerce business in Pakistan, we should recognize e-commerce activity takes place in the USA which is almost 78 percent. As of January 2000, over 110 million people have internet access there compared to 279 million the world over.
• The number of internet users is spending more and more time all around the world and same is the trend can be observed in Pakistan. In 1995, almost .01% of Pakistan’s population use the Internet but in 2010 this rate goes high and now it’s almost 15.1% of the total population. People are getting more aware of internet usage and Pakistan businessmen can make a good opportunity out of it.
• As far as E-commerce in Pakistan is concerned, research was conducted to find some hard realities. According to the result of research, a significant number of Pakistan’s population do not have the internet which is a basic ingredient of e-commerce. Another result was concluded that people are insecure about the misuse of credit cards for online transactions. Despite all this, the research findings suggest that online stores are the best options for your shopping as they are time, money, and other resource-saving.

Research Findings about the Future of E-commerce in Pakistan

1) Do you use the internet: 65 % of people use the internet: at least once a week.

2) Are you satisfied with downloading speed of the internet: 98% were not satisfied.

3) Have you bought Online (if yes then what is frequency): 2% of people have bought online out of which 99% of people bought only once.

4) Do you feel Secure Doing Online transactions: 99% of people feel insecure doing Transaction Online.

5) Are you satisfied with the shipment: 100% were satisfied with the shipment?

6) Is it convenient to buy Online: 100 % were saying that purchasing online buying is convenient.

• Foreign interest in Pakistan’s technology sector has been increasing. Local entrepreneurs have set up around 100 call centers in recent years in Pakistan.
• As government realizes the importance of e-Commerce, universities are forced to introduce E-Commerce in their syllabus.
• No rules have been established on how to tax e-commerce or determine “electronic residence” in Pakistan.

Current Issues of E-Commerce in Pakistan

Right now there are several issues in E-Commerce like payment fraud and many others. But no doubt, due to some issues the trend of E-Commerce is not down but going to increase day by day. Basically when COVID was started then several websites were launched in Pakistan some worked previous many years like Daraz. So, thousands of people lost their jobs then they think and started e-commerce businesses. People face different issues and finding its solution.

It can result that there is a lot of scope for e-commerce in Pakistan, and most companies are willing to enter into the digital world, but at present E-commerce is not expected to increase in the near future due to low PC literacy and internet penetration in Pakistani Culture.

One can easily understand and project the Future of E-Commerce in Pakistan from the above discussion. Write to us by commenting on the page given below.