In our growing Bangladeshi economy, people are more inclined to opt for convenient options and less price-conscious when shopping. People are getting busier with various tasks these days. Therefore, they are looking for easier, more reliable, and applicable online shopping options where they can shop at any time since the online stores are open 24/7.
What Exactly is an Online Market Place?
An online marketplace or simply known as an e-commerce site basically sites available on the internet through which people can order their necessities and their luxuries sitting right at home! The presence of online market places is becoming more and more vivid every day. According to reports ever since the introduction of 3G networks the online markets have grown to an almost 2 billion BDT market!
What Are The Top Online Marketplaces in Bangladesh
People in Bangladesh mainly shop online for clothes, accessories, and home appliances. Reports show that in 2019 transactions worth 1000 crore BDT (USD 123 million) were made for ecommerce purchases across the country. As of 2020, the following sites are the top of the market based on their search traffic:
- Evaly.com.bd: Built by a team of sharp developers Evaly currently has a wide range of products available on their sites. Due to their heterogeneous group of products and user friendliness they is currently at the top of their game with an average visit of 7 million people a month during the entire year of 2020.
- Daraz.com.bd: Ever since their inception in 2015 Daraz has gain popularity among the masses due to their quick delivery service. They have a large assortment of products provided with a guarantee and a send back option. It is currently one of the consumer favorites with over 3.5 million visits a month on average this year alone.
- Chaldaal.com: Keeping office going busy people in mind Chaaldaal.com was founded. You can find a huge array of groceries and your daily necessities there! Saving their customers’ time and effort is their motto. With over 1.08 million visits a month this year Chaaldaal.com is certainly one their way to the top.
- Rokomari.com: Ever since they started their journey back in 2012 Rokomari.com has been a fan favorite for all the bookworms. Available at an extremely reasonable rate and mint condition the books at Rokomari.com are often found with huge discounts. It is currently the go to website for books with an average 1 million visits a month this year.
- Foodpanda.com.bd: Bringing warm and delicious food to your doorsteps at a discounted rate foodpanda is ready to serve you every day. Foodpanda creates access to nearby restaurants and allows you to order food from there and provides the quickest delivery possible. With an average of 800 thousand visits a month this year foodpanda is certainly a consumer favorite now.
- Grandeboulevardonline.com : GBO is Bangladesh’s first one of a kind fashion e-commerce platform that houses premium designer brands and well-recognized international brands. At GBO we are striving to offer our target market a unique online marketplace with a huge array of quality products. We are currently housing 40 special brands under one roof to provide you with hassle free shopping experience. We have also put substantial consideration to make a user-friendly interface in order to bridge the gap between the sellers and the consumers. We have been holding fashion events which raised much commotion in the fashion industry and we are looking forward to holding more such events to increase the exposure of our brands. We have a very creative team of people working tirelessly to help GBO make a mark and give our consumers an excellent shopping experience with us.
Growth of Internet Marketplaces During COVID-19
The current pandemic has locked the entire world inside households, but that doesn’t mean that the needs of people have lessened at all. Only buyers have come to terms with the situation and are buying online and that is why the e-commerce industry is thriving all over the world. The sector is also booming in Bangladesh and is expected to reach USD 3 billion by 2023. Even local buyers are now shopping online. As a result, e-commerce is flourishing around the world. Online sales are known to have increased by 70-80% compared to normal time. Millions of people have started working in this sector. The business is growing rapidly.
Where are we Headed?
The local online market place industry in Bangladesh began to evolve as a complete network from 2012. This has been facilitated by the development of Internet connections, as well as the gradual legalization and approval of online payment by the banks of Bangladesh. Although the online market place has grown over the years, there are still a lot of hindrances. Some of the main challenges are internet issues, package distribution logistics, and product value assurance. Overseas companies also impose a risk for local startups. The sector suffers from a lack of logistics and a strong transportation system that limit its development. Most sites do not deliver to all parts of the country due to poor arrangements and lack of adequate transportation.
In spite of the hurdles, the sector has a lot of prospects, and in the coming years, the contribution of online marketplaces to the country’s GDP is likely to be substantial. Hopefully, with better infrastructural initiatives by the government, we are heading towards a digital timeline soon,