The country’s first and primary e-commerce index was initiated at an online event which was hosted by Daraz. It has shown an increase in digital payments and expanding demand for online shopping. The Federal Secretary for IT and Telecomm, Shoaib Siddiqui attended the ceremony.
The aim of the index is, not only rendering insight about consumer behaviour online amid the coronavirus pandemic but also to assist stakeholders associated with the e-commerce industry, understand the true potential of online shopping.
Daraz launches Pakistan’s first e-commerce Index
The index maps the e-commerce potential of second-tier cities which include Sialkot, Gujranwala, Hyderabad and Multan, contemplating consumer demands for different kinds of products and brands. One of its key findings is that there has been a massive shift towards digital payment methods in the last year. Digital payments on Daraz added 32pc of total consumer spend.
According to the index, changes were observed in consumer demand during the 2nd and 3rd weeks of March 2020, following the outbreak of coronavirus in Pakistan. The sale of fast-moving consumer goods (FMCG) on Daraz, increased two-folds during this time period and it is anticipated that they will rise to 70% of the platform’s total sales in the few weeks.
Mr Siddiqui told that “The prevailing situation has shown the need for e-commerce mainly in urban areas. The role and positive approach that technology companies have adopted should be acknowledged. Their contribution has remained valuable.”
The government of Pakistan has embraced an enabling role and will resume doing so in order to facilitate the growth of e-commerce in the country, he added. Also, it is expected that many more online shopping companies will enter the Pakistani market which will help decrease the prices for the benefit of consumers.