Najaf Rajper- English, Article Revised

Revised

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Online Business in Pakistan

Najaf Rajper

Article English- Revised

Roll no: 2k18/MC/113

E-commerce or Online Business has revolutionised the modern business throughout the world giving new business opportunities.

 The convenience gained from Online Business had influenced both the businessman and consumers to switch from old retailer towards online shopping. As the internet population continues to grow, new sales businesses have evolved and we are seeing firms investing in online business as online stores are now becoming an essential part of their sales and marketing strategies.

The rise of online business has inspired many Retailers to setup online distribution networks as the system is more cheap, consumer-friendly and manageable in comparison with a traditional way, which requires an entirely different distribution model. A traditional distribution channel of customer goods in Pakistan normally entails a Manufacturer/Service Provider, Distributor/ Retailer/Branch, and Consumer. With the influx of online business new distribution business has evolved by which Manufacturers are enjoying the freedom to sell products to a large number of  buyers directly whereas customer could enjoy the independency to choose different alternates in small time on low cost.

Recently in these years when technology have increased and transformed the globe into global village, different businessman have left the old ways of businesses behind by investing in online businesses.

The majority of ideas no matter how good they might sound end up being a complete money-sucking nightmare due to expensive costs, slow scalability and low margins. Online businesses however, can be very appealing as they don’t have the traditional hurdles that most new enthusiasts face. 

The e-commerce started 40 years ago and it continues to grow with new technologies, innovations, and thousands of traditional businesses entering the online market each year. Electronic Data Interchanges and teleshopping in the 1970s built the way for the modern day e-commerce store. The history of e-commerce is closely entangled with the history of the internet. Online shopping only became possible when the internet was opened to the public in 1983.

This new opportunity attracted many business enthusiasts, from all over the globe.

Therefore E-commerce market in Pakistan has now been around for nearly 18 years. The first online store named Beliscity started in 2001 and even though it no longer exists today, other early stores such as Shophive (2005), Symbios (2006) and HomeShopping (2008), while each of these websites continues to serve its customers even today, none of them has blossomed into homegrown successes stories as the likes of Flipkart or Coupang.

In 2012 Rocket Internet decided to enter the Pakistani market. Within the first 6 months, they had already launched three start-ups namely Azmalo, Daraz and FoodPanda. Azmalo shut down within its first 2 months but  later came with a new vision as a drop-shipping that too eventually changed its name to Kaymu.

 Kaymu then went on to be acquired by Daraz in 2016. Daraz started as a fashion-focused portal and in early 2015 transitioned to a managed marketplace focused on all categories and was subsequently acquired by Alibaba in the summer of 2018. They also subsequently launched 5 other ventures which were eventually shut down.

The oldest foreign entrant is OLX, which started its operations in 2010 and continues to operate today. Other large global start-ups included Careem and Uber in 2015 and 2016 respectively. In the ride-hailing category, the largest local player is Bykea, and we have regional players such as Cheetay in Lahore.

Pakistani start-ups of note include, Rozee.pk which started as side project of Naseeb Networks in 2006, and Zameen.com, Pakistan’s largest property classified player, which also started up at around the same time in 2007. The oldest however is PakWheels which started in 2003, initially, as community forum for automobile enthusiasts in the country.

According to The World Bank, the number of people using internet in Pakistan has increased from 6.8% to 18% during 2007 to 2015. The number of people using internet in India increased from 3.95 % to 26% during the same period. 

Pakistan is ranked 19th out of 210 nations in terms of internet users with 30 million surfers. Being a under developed country, Pakistan still lacks infrastructure required for a well-established  business environment such as availability of internet, public awareness and lack of acceptance. But despite the fact, an increased acceptance for online shopping in Pakistan. In past few years, many online business offering food, electronics, clothing and even rides. Older Industries that once heavily relied on a traditional brick-and-mortar system are now setting up direct links with customers by changing the demand of any intermediary support.

As the market is changing and modernizing we should follow modern ways of doing businesses and different laws should be made and implemented to protect the privacy of customers and should limit the frauds too.

Revised

Online Business in Pakistan

Najaf Rajper

Article English- Revised

Roll no: 2k18/MC/113

Online business in Pakistan is growing day by day and more sites are coming on the surface with new and different ideas of entrepreneurship. Pakistani internet user base is growing day by day and creating many opportunities for the customers and the businessman.

Pakistan have been home to different online business websites like,

·         500mein.pk.

·         Daraz.pk.

·         Kaymu.pk.

·         OLX.com.pk.

·         Buyon.pk.

·         Getnow.pk.

·         Bazarpk.com.

·         Homeshopping.pk.

Recently in these years when technology have increased and transformed the globe into global village, different entrepreneurs have left the traditional ways of businesses behind by investing in online businesses.

The majority of ideas no matter how good they might sound end up being a complete money-sucking nightmare due to expensive costs, slow scalability and low margins. Online businesses however, can be very appealing as they don’t have the traditional hurdles that most new enthusiasts face. 

The e-commerce started 40 years ago and it continues to grow with new technologies, innovations, and thousands of traditional businesses entering the online market each year. Electronic Data Interchanges and teleshopping in the 1970s built the way for the modern day e-commerce store. The history of e-commerce is closely entangled with the history of the internet. Online shopping only became possible when the internet was opened to the public in 1983.

This new opportunity attracted many business enthusiasts, from all over the globe.

One of the most successful online business of this era is Alibaba, it was founded in 1999 by a English teacher, Jack Ma, who scraped together $80,000 from 80 investors to start an online marketplace for Chinese companies. He became the richest man in China and his estimated net worth has topped 

Another successful online business emerged in USA, in 1995, Amazon officially opens for business as an online bookseller. Within a month, the fledgling retailer had shipped books to all 50 U.S. states and to 45 countries. Founder Jeff Bezos’s motto was “get big fast,” and Seattle-based Amazon eventually morphed into an e-commerce colossus, selling everything from groceries to furniture to live ladybugs, and helping to revolutionize the way people shop.

Therefore E-commerce market in Pakistan has now been around for nearly 18 years. The first online store named Beliscity started in 2001 and even though it no longer exists today, other early stores such as Shophive (2005), Symbios (2006) and HomeShopping (2008), while each of these websites continues to serve its customers even today, none of them has blossomed into homegrown successes stories as the likes of Flipkart or Coupang.

In 2012 Rocket Internet decided to enter the Pakistani market. Within the first 6 months, they had already launched three start-ups namely Azmalo, Daraz and FoodPanda. Azmalo shut down within its first 2 months but  later came with a new vision as a drop-shipping that too eventually changed its name to Kaymu.

 Kaymu then went on to be acquired by Daraz in 2016. Daraz started as a fashion-focused portal and in early 2015 transitioned to a managed marketplace focused on all categories and was subsequently acquired by Alibaba in the summer of 2018. They also subsequently launched 5 other ventures which were eventually shut down.

The oldest foreign entrant is OLX, which started its operations in 2010 and continues to operate today. Other large global start-ups included Careem and Uber in 2015 and 2016 respectively. In the ride-hailing category, the largest local player is Bykea, and we have regional players such as Cheetay in Lahore.

Other large Pakistani start-ups of note include, Rozee.pk which started as side project of Naseeb Networks in 2006, and Zameen.com, Pakistan’s largest property classified player, which also started up at around the same time in 2007. The oldest however is PakWheels which started in 2003, initially, as a community forum for automobile enthusiasts in the country.

As there is ease and comfort, there are different frauds too like, Most online shopping scams are essentially ordering a product and never receiving the product, so you paid the money and you received nothing in return. Some of the most common items involved in scams are pets and pet supplies, cosmetics, clothing and health care. But Broker went beyond just selling knockoff glasses. Some customers never received their orders though their credit cards had been charged. Those who dared to complain or ask for a refund found themselves on the receiving end of exorbitant “restocking” or “cancellation” fees. And if they objected, things got even worse. That percentage has nearly doubled in just the last five years. But even as we become more and more comfortable with the process, experts warn the internet is still fraught with risks. 

Over the past year, e-commerce websites have started working and are keeping a good standard. Pakistan’s e-commerce industry is becoming more stable. keeping this progress in mind government should deal with online fraudulent with iron hands. 

According to me government should make laws regarding the frauds of online business as it is growing on a massive scale and a quality business should prevail.

We need local context, what is tend in Pakistan and changes
Put some local and interesting in the intro

Online Business

Name: Najaf Rajper

Roll no: 2k18/MC/113

Business have been in demand and individuals have found unique business ideas, but recently in these years when technology have increased and transformed the globe into global village, different entrepreneurs have left the traditional ways of businesses behind by investing in online businesses.

The majority of ideas, it doesn’t matter how good they might sound, it ends up being a complete money-sucking nightmare due to expensive costs, slow scalability and low margins. Online businesses however, can be very appealing as they don’t have the traditional hurdles that most new enthusiasts face.

E-commerce have started 40 years ago and it continues to grow with new technologies, innovations, and thousands of traditional businesses entering the online market each year. Electronic Data Interchanges and teleshopping in the 1970s paved the way for the modern day e-commerce store. The history of e-commerce is closely entangled with the history of the internet. Online shopping only became possible when the internet was opened to the public in 1983.

This new opportunity attracted many business enthusiasts, from all over the globe.

One of the most successful online business of this century is Alibaba, it was founded in 1999 by a English teacher, Jack Ma, who scraped together $80,000 from 80 investors to start an online marketplace for Chinese companies. He became the richest man in China and his estimated net worth has topped

Another successful online business emerged in USA, in 1995, Amazon officially opens for business as an online bookseller. Within a month, the fledgling retailer had shipped books to all 50 U.S. states and to 45 countries. Founder Jeff Bezos’s motto was “get big fast,” and Seattle-based Amazon eventually morphed into an e-commerce colossus, selling everything from groceries to furniture to live ladybugs, and helping to revolutionise the way people shop.

History of E-commerce in Pakistan

E-commerce market in Pakistan has now been around for nearly 18 years. The first online store named Beliscity started in 2001 and even though it no longer exists today, other early stores such as Shophive (2005), Symbios (2006) and HomeShopping (2008), while each of these websites continues to serve its customers even today, none of them has blossomed into homegrown successes stories as the likes of Flipkart or Coupang.

In 2012 Rocket Internet decided to enter the Pakistani market. Within the first 6 months, they had already launched three ventures namely Azmalo, Daraz and FoodPanda. Azmalo shut down within its first 2 months but was later re-envisioned as a drop-shipping that too eventually changed its name to Kaymu. Kaymu then went on to be acquired by Daraz in 2016. Daraz started as a fashion-focused portal and in early 2015 transitioned to a managed marketplace focused on all categories and was subsequently acquired by Alibaba in the summer of 2018. They also subsequently launched 5 other ventures which were eventually shut down.

The oldest foreign entrant is OLX, which started its operations in 2010 and continues to operate today. Other large global start-ups included Carem and Uber in 2015 and 2016 respectively. In the ride-hailing category, the largest local player is Bykea, and we have regional players such as Cheetay in Lahore.

Other large Pakistani startups of note include, Rozee.pk which started as side project of Naseeb Networks in 2006, and Zameen.com, Pakistan’s largest property classified player, which also started up at around the same time in 2007. The oldest however is PakWheels which started in 2003, initially, as a community forum for automobile enthusiasts in the country.

As there is ease and comfort, there are different frauds too like, Most online shopping scams are essentially ordering a product and never receiving the product, so you paid the money and you received nothing in return. Some of the most common items involved in scams are pets and pet supplies, cosmetics, clothing and health care. But Broker went beyond just selling knock-off glasses. Some customers never got their orders even though their credit cards had been charged. Those who dared to complain or ask for a refund had themselves on the receiving end of unreasonable “restocking” or “cancellation” fees. And if they objected, things got even worse. That percentage has nearly doubled in just the last five years. But even as we become more and more comfortable with the process, experts warn the internet is still fraught with risks.

Over the past year, many e-commerce websites have started working and are keeping a good standard. Pakistan’s e-commerce industry is becoming more stable. keeping this progress in mind government should deal with online fraudulent with iron hands.

According to me government should make laws regarding the frauds of online business as it is growing on a massive scale and a quality business should prevail.