In the Age of globalization, Internet is allowing people and businesses to incorporate together and make greater connections. Nowadays No industry works in isolation. Partnership and compliances within the industry and between the different industries have become a new corporate trend.
E-commerce is the emerging face of new era for digital business and industries. It has a prevail in the developed countries and gradually expanding.
In the recent era Facility of E-commerce has not been good so far in Asian Countries especially in Pakistan, but recent results have been astonishing. There is a massive Inclination in E-commerce trend in Pakistan. Due to such impressive results in by gone time, Pakistan has become the keen target of international investors.
E-commerce has vital role in establishing economy of any developing country. Since it has shown very promising progress and expansion which makes it safe to say that this industry has a lot potential in becoming a major economical player. In Pakistan E-commerce market is still at infant stages, but yet expected to reach over US $600 million by 2017
Despite the challenges which Pakistan faces today, it has a bright future as many analyst believe
All around the world aging population is the major hurdle faced by economies, Although Pakistan is on safer side in this matter. It is estimated that 63 percent of the total population of the Pakistan comprises of the youth.
Start-up businesses like travy, Daraz.pk, Olx has shown increasing trend of young youth towards E-commerce in which fresh graduates are foremost, which encourage new ideas pertaining to e-commerce and to boost economy of the country. It has also motivated multi-national companies including Jovago, Uber and Careem to invest in Pakistan.
Pakistan has also signed a Memorandum of understanding (MOU) with the world’s largest e-commerce company, Alibaba to promote the country’s export world wide by small and medium Enterprises.
It can be concluded that increase in internet penetration has been phenomenal in Pakistan. This can prove to be an important gateway for this country in becoming more connected to the world. The introduction of 3G and 4G internet facilities have helped Domestic businesses to emerge on the international market.
Fast internet and cheap cell phones have made very easy for poor one to start their business at home. Women who had no access to market or did not know about business have started their small business at home by exhibiting handicraft on internet.
E-commerce has emerge as source of income for many jobless in Pakistan. It might be a Good initiative to overcome poverty in Pakistan to encourage people by doing online businesses at home. It has not only given opportunities to well-settled businessman but also for a common man to expand his business.