Ecommerce takes a giant leap15 January 2022
Staff Reporter :
E-commerce has already witnessed a significant growth amid the Covid-19 pandemic with the sector expanding at a steady pace of 4.5 percent globally.
This was driven mainly by factors like increased digitization, improvements in technology and infrastructure, and consumers expecting more convenience and accessibility. The pandemic, however, has triggered a dramatic boom in e-commerce.
In South Asia, where e-commerce is behind regions like Southeast Asia, the pandemic has accelerated its adoption. Digital maturity in South Asia sped up, with more consumers - regardless of age - shifting to shopping online due to lockdowns, and businesses having to think outside of the box to find new sales channels and ways to keep customers engaged. In line with this, Daraz - the largest e-commerce platform in South Asia - has seen business on its platform continue to record 100 percent year-on-year growth and is on track to reach over $1 billion sales on its platform this financial year. The company reached over 40 million users on its platform across its five markets and over 100,000 active SME sellers in 2021.
This growth is expected to accelerate even further, especially with internet penetration in the region growing, more SMEs now looking to integrate e-commerce into their businesses and governments in the region shifting their perceptions of the economic value of e-commerce.
The pandemic has provided the ultimate test in which governments across South Asia now recognize the role of e-commerce in keeping regional economies moving through the crisis.
As a key player in the industry, Daraz has showcased how its platform can support business continuity, ensure essential goods and services can continue to be delivered, and improve economic resilience of the markets it has a presence in.
South Asia's digital economy is now at an inflection point and Daraz is committed to working together with governments throughout the region to fuel the growth of e-commerce and digitalization across its five markets. The goal is to increase the number of active e-commerce and digitally educated SMEs on Daraz's platform and ultimately create more jobs through its marketplace model.