E-Commerce in Bangladesh

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. E-commerce includes mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction 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...