5 Best Reasons Why You Should Start E-Commerce Business in Bangladesh
Best Reasons Why You Should Start E-Commerce Business in Bangladesh
E-commerce business in Bangladesh is a great field to get into whether a bootstrapper or an investor with a bit of extra money to start a new enterprise. Even, the tools and resources are all laid out for you as a beginner in e-commerce.
And what you need to start the business is a strong work ethic and a desire to succeed. Also, that’s one domain enough to accommodate any kind of ambition in today’s market is the e-commerce industry.
Bangladesh is one of the largest online markets that you can start your e-commerce consisting of 160 million populations. Moreover, it’s assumed that there will be about 100 million internet users in Bangladesh by 2025. That’s why you can easily recognize your potential e-commerce business in Bangladesh.
An Overview of E-Commerce Business in Bangladesh
The trade body for eCommerce business in Bangladesh, the eCommerce Association of Bangladesh (E-Cab) estimates there are 700 eCommerce sites and around 8,000 e-commerce pages on Facebook. This is because Facebook remains a popular method for advertising and selling products, to a point that many businesses forgo creating websites.
And according to a 2017 E-Cab report, a ten billion Taka (US$10 million) in transactions takes place on eCommerce sites per year. When Bangladesh needs widespread internet access or a reliable online transaction system, the e-Commerce sector has seen dramatic growth since the early 2000’s. And the country’s central bank authority, Bangladesh Bank, began permitting online transactions in 2009.
What is 5 Reason to Start E-Commerce Business in Bangladesh?
If you’re a retail or wholesale business with hundreds of employees, lots of warehouses then continue reading the entire article. Because of the article for those who start an e-commerce business in Bangladesh. Also, it’s the perfect time that you can make your brand more visible to your potential customers.
Moreover, e-commerce is the key to the success of any business these days with the purchasing power of people around the world. Well, here we have 5 reasons will make things easier to start your e-commerce business in Bangladesh.
#1.For an unimaginable potential growth
According to a recent estimate, Bangladesh’s e-commerce business is set to grow from US$100 million to US$500 in 2025. It’s showing rapid worldwide e-commerce growth through 2018 by the projections from e-marketers. Besides, more than 2.14 billion people worldwide are expected to buy goods and services online in 2021. As there will be enormous market available and with immense growth, you can choose any domain or field and still be certain.
It’s always important to examine trends and to move into growth markets in choosing a business model. So, for those who are looking to start a new company, the stats back up the notion that the e-commerce model is a good choice. Moreover, there has scarcely been a better time if you want to get into the e-commerce business in Bangladesh.
#2.Become your own boss
If you want to start your own e-commerce business in Bangladesh, this is the most attractive perk. When you’re in this business, you no longer have to answer to your pesky boss. Also, you’re free from explaining why you were 5 minutes late.
Not only have those but you needed not to prepare night reports and early morning presentations. And it will be you not your bosses or managers if you have to do any of this the one seeking rewards for. But, you’ll be looking to capitalize your work-ethic while you’re your own boss.
Also, you’ll be growing their own business and help customers with their goods and services. As it’s attractive to many people that share that mentality, it’s a far more personal proposition than being an employee.
But, keep in mind that when you’re your own boss, your future is in your own hands. So, you’re entirely responsible whether you live or die with your business. That’s why it’s undeniably your best option if you’re interested in being your own boss and selling products you are passionate about.
#3.Earn when you’re sleeping
This is because at any given moment new markets are waking up and consumers are coming online to make purchases. As we live in the digital age, there have online transactions as commonplace as watching your favorite show on TV.
But, a location is important for any business because it makes a huge difference in visibility and sales. Also, you can set up a storefront at your own domain name and sell your products globally in e-commerce.
On the other hand, e-commerce business does not share the same disadvantages.
In this case, you’ll have to receive and to process the orders at any time, all day, and every day. When you start work in your time zone and deal with the packaging and shipping as normal, you or your e-commerce team pick the orders up. And for this business, you don’t need multiple storefronts across the world.
#4. Easy Getting up and running
There are more of them than there ever were because the tolls for e-commerce gotten better over time. It’s operational without breaking the bank from selling platforms to marketing automation and SEO tools.
Although the most challenging aspect of getting set up is the product if you are passionate about a specific product or a line of products.
Also, it makes it much easier to walk through the process of building relationships if they have helped you personally. Moreover, going to drive you to do the work and to build a successful business is the internal passion. That’s why you still have the ability to create an e-commerce platform and you can choose any domain.
#5.Simply Sell to Global Markets
In your e-commerce business in Bangladesh, it’s essential to export your business to sell products. So, when there is a much larger global market you need not limit yourself to a local market. But, it should not be wise while jumping into marketplaces because that can be daunting at first.
Also, there are international versions of their website that tailor to those countries in many popular marketplaces. That’s why you can simply start your computer and have a look if there is interest in your product in France. Although a few years ago we didn’t have this range, now there are ways to sell products overseas.