Business Report :
E-commerce transactions through cards across the country saw a substantial increase in August, indicating a growing personal preference among consumers for online shopping.
This uptrend reflects people’s passion for purchasing items online for its comfort, convenience and affordability as it saves time and offers competitive rates.
According to Bangladesh Bank data, card-based online purchases marked a 17.46% increase in August 2024 compared to the previous month.
In July, consumers spent more than Tk1,448 crore on various products and services, up from more than Tk1,688 crore in June.
The data also disclosed that consumers splurged more than Tk1,657 crore on different products and services in May.
Stakeholders were expecting further growth in both number and volume of transactions, especially considering the recent boom in the e-commerce industry following a string of scams.
They were also expecting further growth in both number and volume of transactions, especially considering the recent boom in the e-commerce industry following a string of scams.
Bangladesh has emerged as a promising market for global e-commerce giants due to its thriving online shopping community, a big young demographic and widespread internet access.
A recent study has highlighted the country’s potential for substantial growth in e-commerce transactions, attributing this trend to an unprecedented rise in internet usage.
The study based on a consistent 10% exponential hike in e-commerce trade each quarter over the years forecasts a promising future for the industry.
Additionally, the Unctad B2C (business to consumers) E-Commerce Index 2016 shows Bangladesh is among top 10 economies in terms of the difference between the predicted and actual share of net users engaged in online buys.