E-Commerce industry emerges rapidly in Pakistan: LCCI Cheif

E-commerce industry emerged at fast pace in Pakistan. The rapid development in technology has taken over the brick and mortar stores all around the globe. From past few years we have witnessed clear increase in the need of this business for a comfortable yet smooth shopping experience.

E-commerce might help in strengthening firm’s competitiveness and raise their share of global trade, an LCCI cheif stated at the event.

  “E-commerce is expanding rapidly around the world and is likely to reach new highs this year. It’s encouraging to observe how quickly Pakistan’s e-commerce business is growing,” remarked speakers at a Lahore Chamber of Commerce and Industry (LCCI) e-commerce event. 

This was the core outcome of the presentations presented at the Lahore Chamber of Commerce & Industry’s E-Commerce Symposium. Yasir Humayun, Punjab’s Minister of Information Technology, Mian Nauman Kabir, LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan, Vice President Haris Ateeq, Ahmad Muzammil, Covener of the LCCI Standing Committee on Information Technology and Open Source Software Promotion, and experts from various fields spoke at the event. 

Ecommerce, according to Humayun, used to be a “buzz term” a few years ago, but has now become a “must have” for all people in urban and rural places, adding that the IT industry opened the ground for inclusive trade and economic development even during the pandemic’s toughest periods. “Global retail ecommerce sales reached $4.28 trillion in 2020, with e-retail revenues expected to reach $5.4 trillion in 2022.” 

E-Commerce, according to Mian Nauman Kabir, may aid in the development of businesses by allowing them to skip traditional trade routes and access a worldwide market. He believes that now that multinational mega-corporations (such as Amazon and Alibaba) have joined the Pakistani market, there is a huge opportunity for other international organizations to participate as well. 

The Respected Speakers of the E-Commerce Summit, had delivered sufficient knowledge and training to the participants on a variety of topics such as online marketing and sales, social media platforms, international business platforms (Amazon or Alibaba), and digital payments, among others. Hopefully, this learning experience for the participants will go a long way in obtaining some success in future. 

See Also: Key Factors Promoting the Growth of e-Commerce