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Assessment: E-Commerce Is Curse or Blessing

E-commerce provides several benefits according to the document: 1. E-commerce allows businesses to reach a global customer base as it eliminates geographical and language barriers. It gives products and services worldwide reach. 2. Better marketing opportunities are available through e-commerce like search engine marketing, social media marketing, and building trust through reviews. 3. E-commerce helps reduce costs as businesses do not need a physical retail space for their full inventory and can save on expenses like rent, utilities, and staffing of a large retail outlet.

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118 views5 pages

Assessment: E-Commerce Is Curse or Blessing

E-commerce provides several benefits according to the document: 1. E-commerce allows businesses to reach a global customer base as it eliminates geographical and language barriers. It gives products and services worldwide reach. 2. Better marketing opportunities are available through e-commerce like search engine marketing, social media marketing, and building trust through reviews. 3. E-commerce helps reduce costs as businesses do not need a physical retail space for their full inventory and can save on expenses like rent, utilities, and staffing of a large retail outlet.

Uploaded by

Muhammad Shojib
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Department of Business Studies BBA Program

Assessment
E- Commerce is curse or blessing.

NAME: MD SHOJIB MIAH


ID NO: 1814501034

University of Information Technology and Sciences


I think that e- commerce is blessing.

Introduction

E-Commerce services started way back in the 1960s. When firms began to use Electronic
Data Interchange (EDI) to exchange documents of their business back and forth. The
1990s saw the expansion of online shopping businesses, which is quite common today.

Business, be it barter system exchange or purchasing and selling of tangible and


intangible goods has been prevalent for decades and centuries. No one can self-
accommodate. And this brings out the need for demand and supply of goods and services.
The exchange has been going on all over the globe for centuries, locally, and across
locations. Keeping the same concept in mind, now think electronically through e-
Commerce services.

What is e-Commerce services?


E-Commerce services, also known as e-Business services, or electronic business, is
simply the buying and selling of tangible and intangible over an online platform. It also
involves electronically transferring data and monitors between two or more parties
through a gateway. Simply put, it is online shopping as we commonly know it.
It has become so friendly and easy, that anyone can shop for almost anything right from
their living room, with just a few clicks. This has evolved more with the introduction of
smartphones, where now, you can shop from anywhere according to your comfort level,
with a smart device connected to the Internet. Now you can search for almost any goods
or services online, without going to go anywhere physically.

I think that e- commerce is blessing Because the Covid-19 pandemic has appeared as a
blessing in disguise for the e-commerce entrepreneurs as their businesses have become
lucrative.
Seeing the possibility of this sector's growth, many local entrepreneurs are becoming
interested in launching startup e-commerce companies now.
Speakers made the comments during a virtual dialogue titled "E-commerce: Bangladesh
Perspective" organised by the Agamir Bangladesh on Tuesday afternoon.
According to the Agamir Bangladesh, a citizens' platform, online orders for major e-
commerce companies and supermarkets have increased up to ten times amid the
pandemic than that at normal times.
"Within two years, we are expecting that e-commerce will create employment for 5 lakh
people," said Md Abdul Wahed Tomal, general secretary of e-Commerce Association of
Bangladesh (e-CAB).
He said due to the pandemic 85 percent of e-commerce companies were closed two
months ago, but now almost all companies are running again and receiving a good
volume of orders.
Tomal further said, "The global trend of business is changing due to the Covid-19
pandemic. Now people living in Bangladesh are making goods in China and selling those
in America. We have to adapt to changes in order to achieve a sustainable growth in this
sector."
Mallika Roy, assistant professor at Economics Department of Chittagong University,
said, "Earlier, fashion related products were most sought on e-commerce platforms, but
now demand for medical equipment like personal protective equipment, masks, hand
sanitisers has risen by 198 percent."
She said one of the main reasons behind it is development of the ICT sector. Increase in
mobile penetration and availability of internet connection have attracted a huge number
of entrepreneurs and customers to this sector.
She also said the scope of creating employment in the e-commerce sector has increased
while the sectors are going through pay cuts or layoffs amid the pandemic.
Speakers at the programme said e-commerce platforms are more customer-friendly as
shoppers can see reviews on a product or the service of a company before buying
something from them. As a matter of fact, e-commerce companies have to ensure good
quality in their service to get good reviews.
"However, sometimes exploiting the customers' trust, some unscrupulous people run
fraudulent activities on e-commerce platforms. It is high time to monitor the sector for
the sake of its sustainable growth," said Niaz Mahmud, a journalist at the Dhaka Tribune.
"Paid-up capital plays a fundamental role in running a business. In e-commerce
businesses, customers' confidence towards the company plays the role of paid-up capital,"
he added.
e-CAB General Secretary Tomal opined that unscrupulous and fake entrepreneurs join
this sector because becoming an e-commerce entrepreneur has become so easy now.
The e-CAB general secretary also said, "Anyone can become a Facebook entrepreneur by
opening a Facebook page. I guess the number of Facebook entrepreneurs has crossed 1
lakh already in Bangladesh."
He also said there is no law regarding e-commerce at all. The fake entrepreneurs are
taking advantage of that lacking and spoiling the customers' trust in e-commerce.
"But we are working on it. We have already talked with different ministries to make laws
regarding e-commerce platforms," Tomal added.
Sources said 80,000 families in the country receive services from different e-commerce
sites every day.
According to Statista, the size of the local e-commerce market was $1,648 million in
2019. It expanded to $2,077 million in 2020, and presumably it will reach $3,077 million
in 2023.

E-commerce Helps Businesses Go Global:


Directly related to the previous point, this fact allows you to put your products for sale
anywhere in the world. They will not have the explicit need to travel to where you are to
see what you have to offer.
If you are running a physical store, it will be limited by the geographical area that you
can service, but owning an e-commerce website will give you the opportunity to increase
your outreach. It’ll offer your products & services to customers around the whole world,
regardless of the distance and time zone.
Furthermore, this eliminates all kinds of geographical and linguistic tango barriers. Your
e-commerce translated into different languages will allow them to buy from different
countries.
With e-commerce and mobile commerce as well, the entire world is your playground.
Your products or services are within reach for a lot of customers who might be sitting in
another corner of the world.
So, if you want to grow your online business worldwide, it is a great idea to start creating
your own online store and localize your it in different languages.

E-commerce Offers Better Marketing Opportunities:


Your e-commerce site is the best marketing tool that you would ever have. Thanks to the
internet, now anyone can market through online tools like social media marketing, email
marketing, search engine marketing, pay per click ads, and SEO help you build very
useful links and contacts.
For example, with good SEO, your online store will appear in the top results of SERPs.
Also, social media networks will provide you with a platform to engage and build trust
with your customers through reviews and ratings, as well as keeping them informed with
regular posts about your products and offers.
Download the B2C Retail Benchmark Report, Q1 2020, and find insights into the 2019
trends in consumer behavior on retail and brand websites and the best marketing channels
in 2020.

E-commerce Helps You Reduce Your Costs:


To have an online store it is not necessary that you have all your products presented in a
physical space. In fact, there are different companies that operate online where they only
show all their inventory through their electronic commerce.
This implies not only saving by not needing a rental or purchase of premises, but also
everything that involves electricity, the Internet, etc. Or if you want to have one so that
customers have a physical space, it does not have to be as large as everything you offer.
In either case, you will be reducing your costs.

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