Online Shopping And Its Prospects In Pakistan
Pakistan is one of the fastest emerging e-commerce markets in the region. Generally people are adopting a more isolated lifestyle that is supported by changing technology; these emerging trends of online shopping seem to be growing.
In Pakistan, many new initiatives and businesses have been launched online. As the online transaction ratio will go up; the use of plastic money will become more common. Moreover, the number of smartphone users will also increase with the introduction of 3G and 4G services in the country; this would add on to the reach of the online in Pakistan. According to the perceptions study conducted by iris communications, young adults (ages 18 to 24 years) find it easier and more convenient to access on line through their mobile phones. This segment is more eager to adopt new technology and want to be known as trendsetters.
It is observed that E-commerce is now spreading its wings and is creating its share in the overall retail segment, with small, medium and large-scale retailers becoming eager to sell their products online. However, there are many people who are afraid to buy online. Many people still prefer cash on delivery option, they hesitate to enter their credit card number into a secured website.
People prefer to purchase things off the shelf that gives them a sense of instant gratification that is absent in online shopping. Moreover, a lot of people are not very internet-savvy so online shopping may be hard for them to understand.
The growth of online retail industry heavily depends on the growth of broadband users. So far, electronics and fashion products have made inroads in e-commerce space in Pakistan and they are providing the customers with a good mix to choose from.
According to different researches conducted at iris communications people between the ages of 25 to 35 years have the highest share in the total purchases that are made online.