After the advent of online shopping stores, retail malls and businesses have been going to dissolve. Although some of the stores are resilient, but it is prophesied that future of the e-commerce is very glistening. Michael Aldrich who made the process of an online transaction between consumers and business in 1979 had taken the first initiative in the evolution of e-commerce system. Nowadays, after two decades, amazon and E-bay have become the most dominant online members of e-commerce network.
In the early days of e-commerce, transaction process was slow but consistent that assisted consumers to save substantial time and amount. Nowadays, online businesses are in very vigorous competition with retail stores worldwide. This upsurge in online shopping has established e-commerce business by leaps and bounds.
Today, 77 out of 100 people of developed countries are connected with internet. This high inclination towards internet along with trends of modern generation is proliferating the tendency of digital lifestyle. Modern generation are not discreet to share their personal details online. Therefore, this internet penetration coupled with sharing personal details has made e-commerce more inevitable for savvy customers and retailers.
In Pakistan, online shopping stores are no more things of days gone by. However, Pakistani entrepreneurs have started their experiments in the tech industry that brought small online stores on the face of home shopping briskly. The major problem in online business is the payment criteria which did not get substantial changes and progress. The payments via credit cards are still facing many hurdles as most of the people are not using credit cards in Pakistan. The eventual and logical solution for online payment is the bank transfer only. Cash on delivery is also being used extensively when shopping orders have made on the call.
A large number of home shopping is enjoying call-order forum for online stores by proving personal details like phone number, address and catalog. This is the only way of experiencing most convenient services of online businesses without using credit cards. Small e-commerce stores and their considerable shopping are consist of electronics, cosmetics, mobiles, cameras and gadgets. These categories of products are widely popular and successful in Pakistan.
Lootlo and GetNow.pk are some of the popular online shopping websites which have started their business on a very small scale but at present, these websites are catering a large number of home shopping. The online shopping through these website has developed many other small stores and retailers in Pakistan which have long array of electronics, fashion, books and cosmetic goods. At the present time, the consumer demand is gradually growing at small online stores as credit card holders are also increasing in Pakistan. Despite the escalation of online shopping, the majority of target market still do not have access to online stores due to the issues of financial payment and inherited mistrust approach towards online stores.
Opportunity exist in this domain for many an ambitious but unemployed/ underemployed population of Pakistan. For sure it will trigger a whole new era of entrepreneurship in Pakistan.