BUSINESS REPORT: Pakistan to cross Rs. 100 billion eCommerce trade in 2021
ISLAMABAD, FEB 24: Extreme
Commerce Pakistan’s first EdTech company specializing in e-commerce and digital
trade education and practices to train Pakistani youth to sell on Daraz
platform. Extreme Commerce and Daraz signed a memorandum to improve eCommerce
and digital trade literacy in the country.
Although, the State Bank of Pakistan (SBP) and Federal Board
of Revenue (FBR) are working to introduce a platform that will facilitate
Pakistani traders to exports their products seamlessly on global platforms such
as Amazon, Alibaba, and eBay, the local traders are looking for an opportunity
to explore the global markets enthusiastically.
As per the latest eCommerce numbers, released by the State
Bank of Pakistan (SBP) upto Q3 2020 (Q1 FY21), the eCommerce market size for
the year upto Q3 2020 was 96B PKR (assuming a 60% COD volume), prepayment was
39B over the same period. There are now 2,164 merchants who accept prepayment
methods which is a large jump from the previous quarter. There are now 43k
orders a day via prepayment method (in Q3 2020) on Pakistani merchants, which
is up from 24k and 13k in the same quarter in 2019 and 2018. More eCommerce
data can be found HERE.
The partnership between Extreme Commerce and Darza, will be imparting knowledge skills on how to sell on the Daraz platform more efficiently with maximum customer satisfaction and potential to grow. The arrangement will facilitate the sellers to expand their enterprise further and improve their online selling skills, including formation of businesses, creating stores, product branding and marketing.
The Extreme Commerce’s Video Boot Camp (VBC) is a collection
of 100+ E-Commerce and digital money-making skills in the world. VBC covers an
extensive range of skills that builds and empower with eCommerce and digital
trade skillsets to earn money by offering services to clients across the globe
and setting up own businesses and stores on national and international
eCommerce platforms. Through this MOU, the sellers and traders on Daraz will
also benefit from the rich knowledge resource available on the VBC platform as
well. The partnership will be catalytic for the eCommerce market to cross the
Rs. 100 Billion eCommerce trade barrier in 2021.
Sunny Ali, the Founder and Chief Executive officer of
Extreme Commerce shared his views on the partnership and said, “Our first step
is to start building capacity of the sellers on Daraz through our trainings and
our state-of-the-art Video Boot Camp (VBC). Educating everyone with eCommerce
dynamism on Daraz. We will be the bridge between Daraz sellers and Daraz with
the Extreme Commerce’s knowledge repository as the learning platform. We can
quickly relay issues, challenges and find solutions together. As this will help
the sellers in the country to explore the eCommerce phenomenon as a
knowledge-based economic growth model.
Extreme Commerce’s vision to make Pakistan a global
e-commerce back-office hub has been acknowledged by international institutions
as well. Extreme Commerce aims at developing a national e-commerce ecosystem
through inspiring and empowering entrepreneurs. Being Pakistan’s largest
e-commerce knowledge sharing and capacity building platform, Extreme Commerce
has a community of more than half a million people nationwide. Whereas, Daraz
believes in enabling local entrepreneurs and businesses to do business anywhere
in this digital era and has a community of more than 70,000 sellers nationwide.
Omair Baksh, Head of Marketing at Daraz said, “Adaptability
to e-commerce has increased in the past few months and an increased number of
sellers are moving towards online selling to make a stable living for
themselves. We take complete responsibility to train the seller community and
equip them with the right skills for their business growth. Daraz has always
focused on seller education as a core and with this partnership we are taking
an additional step to create value for our sellers and buyers along with
improving customer experience.
The cross-border Business to Consumer (B2C) e-commerce
regulatory framework has also been developed by the SBP and the Web-Based One
Customs (WeBOC) e-commerce module that the FBR is developing, would help
facilitate online sales of exporting firms by allowing hassle-free
documentation and shipment of export orders.
With this partnership Pakistani e-commerce enthusiasts will
have access to customised courses designed for Daraz sellers that will focus on
specialized training on digital trade, data analysis and other innovative
solutions for business growth in ecommerce.
The success of any ecommerce business is highly dependent on
customer experience that can be improved by many folds through capacity
building of the seller base through education and awareness. A key battle for
the ecommerce industry in Pakistan has stood to be customer trust which can be
improved with ecommerce education, performance-based trainings and knowledge
sharing by experienced mentors.
Extreme Commerce is Pakistan’s first EdTech start up with a sole focus on skills development and capacity building within the ecommerce and digital arena. Founded in 2017, it is the largest community of its kind in Pakistan, with well over half a million members and over 100+ courses and income streams to choose from. Extreme Commerce estimates that by 2025, it will foster a community of over 1 million strong, generating well over $1 billion in inward remittance for Pakistan.
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COURTESY DAILYTIMES
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