ISLAMABAD ( GUEST WRITER )
The internet is among all the wonderful invention of the 20th century that influenced our lives. Online business is yet another extension of the internet which has changed today’s scenario for business. After the advent of electronic commerce or e-commerce, business transactions over the internet has defined another version of business online and delivering products offline. At present moment, business organizations, government, and consumers, all are involved in e-commerce business. Following this pursuit, the business sector in Pakistan is experiencing new horizons of growth in the economy. Online shopping is not a new phenomenon in Pakistan in which purchase and sale of goods occur via internet. There are tens of online shopping websites in Pakistan which have emerged during few months from big ones such as home shopping to as small as getnow.pk store, offering quality products at very low prices.
The impact of online shopping on the economy of Pakistan has become very strong as the country is moving ahead with speed and glee to grab this opportunity. Online shopping has enhanced the benefits and advantages of internet usage as well that exist with the variation on the global scale. In Pakistan, online shopping is closely related to the intrinsic feature of the local environment and customer, making virtual shopping a serious habit. Today, entrepreneurs and companies are also strongly willing to move their business from traditional course to developed methods of e-commerce that involved online shopping as an essential part. Shopistan is one such platform which is helping businesses and brands build their online presence and use the advent of internet as an additional marketing channel for their products and services.
However, it is crucial to focus on some priority zones to carry on this process of implementing e-commerce in the growth of Pakistan’s economy. The foremost and crucial area to focus is the awareness of people towards online shopping as it is a huge barrier to implementing e-commerce in Pakistan. Another important area is the market size analysis and determination of business model and particularly, business to consumer. Additionally, e-commerce infrastructure is also a big barrier in the growth of online shopping that includes lack of authority certificate.
Government can play a leading and vital role to initiate some necessary processes for the promotion of online shopping, but the critical precedence is required on the following areas;
. E-commerce promotion and awareness about online shopping
. Human resource development in Information Technology Sector
. Development of telecommunication and e-commerce infrastructure
. Marketing strategy for local market
. Financial services and solutions for online shopping
According to the current forecast of economic climate, online shopping and the amount that spent on this purpose will keep growing year by year. Nevertheless, there would be finite amount will be spent on online shopping because if only online expenses increases then spending anywhere else will surely decrease. The reason behind this composed spending is big retailers which are running chains of retail stores and they can receive worse causalities if the purchase and sales of goods and services go online thoroughly.
In Pakistan, it is notable that most of the businesses and retailers are selling their products online but off course, it is foretold that online shopping would not completely eliminate the brick and mortar shopping. Altogether, with each passing year, online shopping is becoming a major part of Pakistan’s economy as it is influencing the lives of across shoppers, belonged to all age groups and demographics.