The digital economy and e-commerce industry of Pakistan has flourished tremendously amidst COVID-19 pandemic. This is majorly because consumers’ physical ability has been curtailed due to lockdown of shops, markets, and offices in the pandemic.
Online businesses in Pakistan’s economy have also gained immense prosperity and digitization has strengthened. This has opened new job opportunities for the younger population. Such measures have been useful in creating a digital upheaval in Pakistan’s economy.
A prominent online shopping store – Daraz.pk – has experienced an increase in its sales by nine times ever since the coronavirus pandemic. This is useful for Pakistan’s economy by expanding its consumption and trade, which is likely to grow its economy by 7 percent. New job opportunities will be opened, which will resultantly enhance country’s GDP by an estimated figure of $36 billion dollar by 2025.
Though the e-commerce industry in Pakistan stands at an infancy stage, a massive increase in e-commerce transactions and e-commerce merchants has been witnessed due to the pandemic. Considering this increase, the government has developed an international payment gateway which will be integrated with different online payment companies like Paypal. It will help to trigger an increase in e-commerce’s sales.
Besides, it is expected that these sales are likely to accelerate further by a grant of tax relief to e-commerce industry because shoppers visiting brick and mortar shops are minuscule due to lockdown. More than 60 percent of the sales of brick and mortar shops has been redirected to online shopping thereby strengthening e-commerce industry. The online businesses are expected to grow by 50 percent, and have replaced retail outlets, which are considering closure in order to curtail their expenses.
The coronavirus has accelerated market penetration rates of e-commerce in fields as diverse as shopping, grocery, freelancing, online businesses, and education. The traditional vendors, who had no prior online presence, have also shifted to e-commerce.
Another renowned name, Cheetay is gradually becoming a leader in e-commerce industry of Pakistan. It caters to requirements of fastest growing delivery and logistics services providers. The concept of contactless delivery adopted by Daraz and Cheetay is a new form of innovation, which mostly involves making payment via card before delivery. A rider then simply places groceries, food and other accessories ordered on the doorstep of the customer.
Cheetay has been one of the first e-commerce platforms in Pakistan to introduce ‘contactless services.’ It believes in maintaining a distance of six feet both from consumers and suppliers, and its pick and drop off points are also designated. The corona pandemic has indeed helped the e-commerce sector to focus on capitalizing growth strategies and the plans which they have hoped to achieve over the years at present.
Cheetay, in addition has introduced several new services such as Pantry, which is an alternative of local groceries. Pharma is another service launched by Cheetay to order medicines from local pharmacies. These services hold paramount importance in relation with e-commerce during times of corona pandemic.
The aforementioned elaborates the significance of e-commerce as a flourishing industry amidst coronavirus pandemic.