Last few years have seen a great boom in the ecommerce industry worldwide and Pakistan being one of the fastest growing country in the domain of telecommunication doesn’t lag behind. I’m not saying this, in fact Devin Wenig the CEO of eBay is of the view that Pakistan is one of the fastest growing ecommerce markets in the world right now.
According to a careful estimate Pakistan is going to cross US$ 620 million at the end of 2017. Not only this, government authorities have predicted that by the year 2020 Pakistan’s Ecommerce market going to be $1 billion which was only $100 million in 2016.
Devin Wenig, CEO of eBay encouraged the ecommerce industry by saying
It’s the fastest growing markets we have around the world. Anywhere where wealth is growing and technology is being adopted, ecommerce is being adopted like crazy.
This explosive trend of eCommerce in Pakistan has been mainly ignited in the current times by the introduction of 4G and LTE services. This not only spread the accessibility of internet all over the country but allowed people to be more active when it comes to purchasing from online stores. No one can dare to misunderstand the social media marketing in the current times.
People are now turning their attention away from the conventional brick and mortar stores and businessmen are also enforcing their conventional businesses with technology like web applications and making their presence felt online. The trends of ecommerce in Pakistan have been changing for the better and have made lives of people convenient than ever before.
Here are some of the purchasing trends that are lately being seen in the ecommerce industry. These consumer trends will give you an idea of what is going on in this field and will assist you if you are planning some kind of ecommerce venture.
Researches conducted on the different aspects of consumer buying behavior showed that the younger population is more inclined towards the use of ecommerce facility. Youngsters and adults between the ages of 18-34 are more active on social media platforms and like to buy from the specially designed applications.
One significant reason for this is that people above the age of 35 aren’t inclined towards the use of technology. On the other hands youngsters and millennials are more interested in buying, comparing and checking out products and services on the online shopping applications.
When it comes to shopping online, males have the upper hand in Pakistan. 70% of the total percentage of ecommerce activities are done by males. But when it comes to the average conversion rates between the males and females, it was surprisingly similar between the two genders.
Lahore and Karachi being the giants and also the majority of educated people live here, so these two cities prove to be the most fruitful when it comes to ecommerce. According to sources 27% of the total traffic is seen from Lahore which is followed by Karachi at 26%. Twin cities of Rawalpindi and Islamabad are at the third place with 21% of traffic.
The reason for less traffic from the twin cities is due to less population as compared to Lahore and Karachi. More than 65% of the ecommerce transactions are noticed from these three regions of Pakistan.
Another reason of the ecommerce industry booming is the fast life style of people in Pakistan. With the country growing economically and corporate sector on the rise, people find less time to shop and find it suitable to buy products and services from online resources and mobile applications.
In the recent years it is also seen that web development experts are developing ecommerce apps with more details and looking to give the users more convenience and easy to use navigation. Also social media marketing has played a major role in the outburst of online shopping amongst the common public.
People in Pakistan are now given more options to choose from and there isn’t any option left with the business operators other than to improve and give quality services to the customers. Few years back people only had their attention towards the electronics and smartphones etc.
When they were buying through any ecommerce application, but now they are buying every product that range from kitchen utensils and groceries to automobiles, from electronic equipment to furniture, from clothes and apparels to food items, calling taxis to buying any other services etc.
In the end, it is important to write that ecommerce industry is only going to prosper because Pakistani conditions are best suited to any online business and with more and more people showing their interest in the online stores. For people who are looking to step in the world of ecommerce there isn’t any shortage of social media marketing agencies that cater these operators.
These agencies provide immaculate SEO and quality content services that bring people on to their platform and enhance the sales of a specific product or service. Simply saying the future of ecommerce is quite bright in the fast evolving technological environment of Pakistan.