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Ecommerce a path to progress for SMEs in Bangladesh

June 28, 2024

DHAKA – In general, e-commerce is the exchange of goods and services, and the transmission of funds and data over internet. It is governed by technology and digital platforms, including websites, mobile apps and social media, which make buying and selling more feasible.

Nowadays ecommerce has become a pathfinder for businesses worldwide, including small enterprises in Bangladesh. As Bangladesh evolves technologically, it’s critical for small businesses to adapt ecommerce for sustainable growth and progress.

Traditional brick-and-mortar enterprises are restricted by geographical limitations, but ecommerce allows these businesses to reach customers across the country and even globally. This increased reach converts into more prospective customers and higher sales.

In addition, setting up and preserving an online store is often more economical than running a physical store. Overheads such as rent, utilities, and staff wages are significantly condensed. Moreover, digital marketing is generally more affordable and target-oriented than traditional marketing approaches.

In today’s world, buyers value convenience over many other concerns. Ecommerce offers access to shop anytime and anywhere, making it stress-free for customers. This convenience can always lead to improved customer loyalty and repeat business.

Ecommerce platforms provide valuable insights about customer behaviour, preferences, and trends through data analytics. This data can help entrepreneurs make seamless decisions, tailor offerings, and improve customer satisfaction.

As businesses grow, scaling up an online store is easier than expanding a physical store. With ecommerce, we can add new products, move into new markets, and handle higher volumes