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E-commerce

The usage of networks by an individual or a company in order to promote or sell the


product or service the individual or the company is producing or trading is defined as Electronic
Commerce or E-commerce.
The concept of E-commerce is to perform business via networks and internet. Ecommerce

includes

management, Internet

mobile

commerce, electronic

marketing, online

transaction

funds

transfer,

supply

chain

processing, electronic

data

interchange (EDI), inventory management systems, and automated data collection systems.
World Wide Web and Electronic Mail (E-Mail) is used for the transactions in modern electronic
commerce.

Importance of E-commerce
From the business point of view E-commerce can be cost effective. But it makes trading
much more easy. It provides better connectivity for potential customers as the websites of the
company can be accessed from anywhere in the world. This way more potential customers can
get in touch with company's business. With the help of E-commerce customers can now browse
through the whole catalog of a company without any hassle, they can also compare products and
on top of that they can do it from their home or from work. E-commerce has opened up various
windows and opportunities for the companies to reach to its potential customers easily.
Eventually it will become a major marketing plan for all the companies in order to survive and
compete in the ever changing market.

E-commerce in Bangladesh
Bangladesh is developing country and the telecommunication sector of this country is
also developing. E-commerce can play a big role in the development of this country.
With a view to make Bangladesh digital by 2021 government has introduced several
activities like E-governance. Some sectors have started doing E-commerce. Mobile phone
companies, Banks and shopping malls are among them.

Challenges, Solutions and


Effectiveness of E-commerce in
Bangladesh
Challenges
Bangladesh is developing country and the telecommunication infrastructure is not yet
properly developed in this country. It has to face a lot of challenges to develop a market
based on the e-commerce. Some these are as follows.
1. The telecommunication infrastructure of Bangladesh is yet to be developed. The
network connectivity is very poor in this country.
2. There is a lack of proper rules and regulations by the government for e-commerce.
3. People of this country are not still familiar with the concept of e-commerce. The lack
of awareness about the e-commerce is a big challenge.
4. The consumers of internet is very low. Only 7% of total population of this country
uses internet which is relatively very low.[1]
5. The price of internet is very high. which makes hard for people of all class to get the
privilege of using internet.

6. The online payment system is not properly developed yet. Online payment is a key
factor in e-commerce but there is no existence of a powerful online payment system
in this country.
7. The privacy policy of online marketing in Bangladesh is not very secure yet. That's
why people feel insecure to do online marketing.
8. The existing online marketing websites are not well developed. As a result people get
bitter experience and it effects in the development of e-commerce in Bangladesh.
9. The education and training on ICT is very poor in this country. The number of trainers
is insufficient in order to develop a high infrastructure in the telecommunication
sector.
10. The development and maintenance of an online marketing based marketing is very
hard and there is not enough trained personnel in this country.
11. There is lack in the marketing and promotion of e-commerce in this country.
12. Credit Card is essential in the online marketing. But the number of credit card users in
this country is very low.
13. There is a lack of initiative and leadership among the enterprise managers to take the
advantage of e-commerce.

Solution
Bangladesh needs to develop in e-commerce in order to cope with highly growing internet based
market around the world. Here are some solution which can help.
1. Bangladesh will have to overcome the problems with poor network connectivity and
electronic payment issues by developing Telecommunication Infrastructure.

2. As a customer is unable to examine product personally, an e-commerce platform should


also support the ability to attach multiple pictures to a product catalog page, allowing the
consumer to view the product from multiple angles.
3. As our county is not so developed and most people of our country is poor and
uneducated, the cost of using internet should be affordable to general people User of
software should be more simple for the easier use Its use should be made as easy as TV
and newspaper so that it require unsophisticated skill
4. As there is the increase number of fraud on the internet and there is the possibility of
credit card number theft therefore, awareness of government should be increased to solve
security problem.
5. As some customers like to feel and touch products Also, customers are resistant to the
change from a real to a virtual store and people dont yet sufficiently trust paperless
transaction therefore, this situation can possibly be changed if we develop our people
6.

mindset.
There should be an EFT (Electronic Fund Transfer) Gateway, which will connect all
finance and banking institutions, ATMs, POS and related websites. Such Gateway will
speed up the transactions among banks, commercial institutions. This sort of

infrastructure needs to be implemented on priority basis.


7. A CCG (Credit Card Gateway) should be established. A credit card gateway is a server
that makes online credit card transactions safe.[Skinner,2005]

Effectiveness
Generally, effectiveness means, doing the right thing. To be more specific, effectiveness
is concerning with success issue of a particular task. In this study, various achievements in
different domains come out as result after implementing e-commerce system in Bangladesh.

Now a day, e-commerce has brought about a revolutionary change in human life. The most
significant issues of e-commerce are:
1. E-commerce is playing a vital role in building the digital Bangladesh. It will also help us
to keep pace with the developed countries as most of the developed countries trade and
business are based on e-commerce.
2. Through e-commerce, ultimate consumers can directly communicate with manufacturers.
This communication process takes very short time and the domination of middlemen
eliminated significantly. Moreover, the suppliers learn about the demand of customers.
3. Unemployment is a curse and the unemployment rate in Bangladesh is 4.50%.[2] Ecommerce creates new sectors and opportunities to remove unemployment in
Bangladesh. People find different jobs in online market sector.
4. E-commerce creates a virtual market, so buyers and sellers gather there to perform
business related tasks. So e-commerce shifts excessive pressure from manual market
system. People are also interested in e-commerce as it is a very easy process.
5. Buyers and sellers gather in a virtual market place with different products with different
prices. Buyers can easily buy their desired products at a very low price than in manual
market system. Sometime, buyers can bid price and buy products at an advantageous rate.
6. There are different sites and sectors for different products in e-commerce. Thats why
buyers can easily get their desired product among heterogeneous websites and markets.
They can compare one product to another on the basis of price, quality or any other
feature. So they can buy the best product among them from a virtual market.
7. In the modern era, people are becoming very busy with their tasks. They do not have
enough time to go to market place and buy their necessary product. In this aspect, ecommerce is helping people by saving their time. Now people can get their desired things
by sitting in the home.

8. The payment system is very easy and safe in e-commerce. Several online payment
systems have introduced in Bangladesh. People buy products/services and pay cash to
sellers. Bkash, Ukash are most popular payment systems in Bangladesh.
9. E-commerce secures the marketing policies. Manufacturers/sellers provide different and
unique advertise on internet. People can justify products/services through these advertises
and choose their products from them. Business organizations can develop new marketing
strategies and potentiality through e-commerce.
10. E-commerce is a potential option to gather IT knowledge. Enormous career sectors have
introduced in e-commerce. Information Technology is dynamic source of knowledge and
people related to IT sector get benefits from e-commerce.
11. Now a day, e-commerce has unleashed a great opportunity for entrepreneurs who can
invest small capital in business. Investors need very little capital to establish online
market. Moreover, online market is comparatively sustainable
12. E-commerce in Bangladesh is very effective in foreign markets. If the foreign
buyers/customers buy unique and cultural products of Bangladesh, they will be interested
in the internal markets of Bangladesh and however, they will invest more in Bangladeshi
market. Foreign investment is needed for development of Bangladesh
13. E-commerce can contribute a lot in generating national revenue and GDP. As there is no
heavy industry in Bangladesh, e-commerce bears a extensive opportunity in increasing
national revenue. To be very specific, it contributes a lot in national economy.
14. E-commerce can remove negative cultural traditions and holds an outstanding position in
front of the whole world. Several incidents have put negative impression on Bangladesh
to the outsiders. Though the positive and efficient efforts of e-commerce, Bangladesh can
create country branding to outside world.

Conclusion
E-commerce is the blessing of modern science and there is no unmixed blessing on the
earth. E-commerce has its own demerits. Fraudulent activities have become a common affair of
e-commerce in Bangladesh. In spite of having such problems, e-commerces advantages serve us
most. E-commerce is serving us in different ways through different sites and market places. Most
popular online market places in Bangladesh are- bikroy.com, clickbd.com, sellbazar.com,
ekhanei.com, rokomari.com etc.
Overall, e-commerce can improve the livelihood of people of Bangladesh through
different efforts. Life standards upgrade, increasing income, advanced technology can change the
whole country. People can get the benefits of modern technology and improve their life style.
However, the country turns into a developed country.

References
1.

htttp://www.budde.com.au/Research/Bangladesh-Telecoms-Mobile-Broadband-

2.

and-Forecasts.html?r=51
http://www.tradingeconomics.com/bangladesh/unemployment-rate