The Ecommerce System in Bangladesh – Trust & Future

At the moment there is no work that we do not do online. In developed countries of the world, their lifestyle is almost 100% online dependent. They order almost everything they need online, their finance system is paperless. Amazon is the world’s largest e-commerce site, with revenue of $386 billion in 2020, how big is Amazon’s revenue, type, our budget for 2021 is $71 billion. Understand that Amazon’s income is more than 5 times our budget!! . A total of 5.2 billion unique visitors are visiting their website on Amazon in 2020. Amazon is such a big e-commerce site, have you ever seen Amazon selling products with huge discounts like e-Valley? More than 4.2 trillion worth of products is sold online worldwide. If you think about the future, you will understand that after 10 years, even in our country, very few people will go to the shops to buy things. It was hard to believe 10 years ago, many may not believe it yet, but remember, by 2030/40, in a country like Bangladesh, buying and selling things offline will be very rare. That is the reality. The growth rate of our e-commerce industry in the last three years is almost 100% which means that e-commerce is doubling every year. At present, the size of our e-commerce market is around BDT 6,000 crore, which is expected to reach BDT 23,000 crore by 2030. There are about twenty-five to thirty thousand e-commerce sites in our country, most of them are small size e-commerce sites whose names I don’t even know in my life, but there are many established big sites like Daraj. On the other hand, there are fraudulent sites like E-valley that suddenly came into the market due to which the entire e-commerce system is now accused of breach of trust.

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E-commerce market in Bangladesh

Our e-commerce system is getting bigger day by day, now you see the advertisement of the product in every corner of Facebook. It is such a big market of billions of taka but the problem is that no regulation has been made so far, so what you can see is E-vally, Dhamaka, Orange is this type of bad e-commerce platform. In reality, most e-commerce websites try to provide better service to the customer. There are still many minor complaints, such as different sizes of products, they pay for one color then receive another color product, the higher price is one of the major issues.

Now the question is an industry with so much potential, where nothing is possible without trust. If someone broke that trust, the market got crashed. What is happening at the present time, there are many of us who are kind of greedy, there are some people who like to cheat people. The amount may not be much but you know, even if you put two drops of cow’s lime in a bucket of milk, the whole milk is wasted. Because of this, the trust in the e-commerce system has diminished a lot. And this market can never continue without faith.

The System of Cheating

But not everyone buys products online and got cheated, only a few people fall into this category. If you are a customer of Evely then you are cheated because you are greedy, believe it or not, it is true. When someone offers you a product that is worth 10 taka for five or seven taka, you have to assume there is a problem. If you do not understand this, you will often find yourself in a situation like this. What would E-vally do? E-vally would initially offer unusual types of discounts to attract you. A motorcycle that costs 60,000 taka would offer you 40 or 50 thousand taka! Then he would take money from you in advance and hang your product for months without delivery. Even after many years, many have not yet received Evali’s product, and it is doubtful whether they will receive it in the future.

Never be greedy in the online world, especially offers of this type are always a big source of income for fraudsters. They know that innocent people like you will fall into the trap of greed, they will become millionaires and you will become poor. Because of this type of fraudulent e-commerce platform, people are losing faith in those who want to do e-commerce business honestly. Because the cows burning the house are scared even if they see clouds in the vermilion. When you look around, someone is cheating by ordering online, a friend of yours has ordered a white shirt online, the seller has given a yellow shirt! Would you like to order online after seeing this? So this industry of billions of taka will be ruined due to a few fraudsters, it should not be allowed to do so. The government has not yet made any specific policy, action should be taken in this regard very soon. If there is a proper anti-corruption authority, who will control the e-commerce business, so that unscrupulous traders do not destroy the system in any way, without destroying people’s trust, then our e-commerce system can go a long way.

Daraj

Daraj is the largest e-commerce site in Bangladesh. According to Statista, about 59 percent of Bangladesh’s e-commerce market is controlled by Daraj. Daraj sells thousands of different types of items using the marketplace. Maybe most of them offer good products, there are some sellers who cheat people! . For a few vendors, Daraj’s reputation is in question. The question is why is it?

This is because it is the thing you order, Daraj itself never checks. This means that your product is packaged by the seller and sent directly to you through any courier approved by Daraj. As a result, there is no way for Daraj to know whether he has given the thing good or bad. The trust here is between the seller and the customer. I don’t know why they don’t do it, if any product was ordered through them, Daraj would first take the item to their warehouse and check the product quality according to the customer’s requirement. It may be a little longer delivery timeline but customers will never be cheated and the reputation of Daraj will never be lost. If the customer’s trust is destroyed, Daraj will never last.

Problems and solutions of our e-commerce system

The first problem is that anyone can open a well-known e-commerce site from any part of Bangladesh and cheat with the customer if he wants to! . The solution is very simple, corruption-free authority, whose job is to collect an adequate amount of data from those who will open e-commerce sites and introduce an approval system. This means that the customer should know that it is an e-commerce site registered with the government. If there is any problem here, I can complain to the government and get the remedy, meaning that they cannot easily cheat us. Of course, this is not a 100% solution. In our system, those who are corrupt, even with loopholes in the law, can cheat with customers. But if you follow this system, even if it is a little bit, it will come under control, which means that the Evil type sites will not develop suddenly.

Another problem is that our e-commerce sites have a manual system in a digital system i.e. their website is digital-only, the rest of the work is like their payment is mostly on cash on delivery because the customer does not trust them. Their delivery system is totally manual, the couriers that deliver e-commerce products are almost 90 percent manual. If the whole system can be converted to a digital system, the speed of work will increase a lot. The delivery time will be much less. When the customer can fully trust the companies, they will pay them using online payment gateways.

And there are big sites like Daraj, there should be strict rules and regulations in the case of product listing, that is, you can not set the price arbitrarily by listing any product if you want. The price has to be adjusted with the market. The price of the product is 50 taka, seeing that there is no such product in the marketplace, the seller will then charge 500 takas! it cannot go on like this. You must give the product in the size and color that the customer will order, otherwise, you will be fined. Without quality standards, no seller or marketplace can ever survive in an e-commerce system, it can be said with a guarantee.

Only using a regulatory board such as a large market system can be controlled. People will never believe a hundred percent but if you are careful, do not order out of greed; You can avoid fraudulent e-commerce sites – it’s easy to identify fraudulent e-commerce or any business –

  • They will suddenly come to the market
  • They will ofeer you an unbeliveble amount discount!
  • Most of the time will demand money in advance
  • The first few days will deliver well to the people so that they can attract more customers. From then on, its original form will come out.
  • Check any website that will offer you tempting very well then order and never order with advance payment.

So far today, thank you all for being with me. If you like it, don’t forget to share it with your friends.

RI Razu

My name is RI Razu, I founded RI Digital Research where we help individuals, small businesses or sometimes big companies to boost their sales, get new customers and do market research. Beside handling my company works, I also write here regularly.