The year 2015 was the era of rising trend in online retailing and shopping as more businesses started to realize the potential power of online marketing and to bring their brick and mortar business online to gain more customer base. The feasibility of online shopping is already seen across the globe where tech savvy individuals who have tremendous power ta make purchases online expect the businesses to satisfy their demands through digital channels.
It is quite clear that there are billions of mobile users and majority of them have access to internet which makes them the leading prospects for online shopping. In fact, the infographic from Elastic Path is a detailed view of how these digital users are driving demand for online shopping. Shoppers who buy through mobiles spend 66% more than shoppers who buy via retail stores. There are currently 2 billion millennial worldwide and by 2025, it is estimated that 75% of them will make the global workforce.
Such a huge potential is the only way for retailers to reach their target customers to expand their sales revenue and to outreach maximum target customers to expand their brand awareness. This rising trend of online shopping is also very fierce in bringing out the competition among retailers as it is a matter of survival for retailers.
Pakistan, although made a delayed entry to the booming e-commerce industry but now the country is experiencing fruitful results of online shopping in Pakistan. Over the past few years the country has seen tremendous growth in online purchases with current value of US$30million being spent on online purchases. This highly positive picture of e-commerce industry makes it viable to reach around US$600 million by 2017.
Several factors have been responsible for this rise in e-commerce industry as the youth of the country which comprises of about 70% of total population is highly motivated. Many youngsters are joining the tech industry due to its high potential and also gearing up for their own small startups. Credit should be given to some local and international incubators like PASHA and Rocket Internet who are constantly providing support and guidance to these passionate fellows to become successful entrepreneurs.
2015 had seen the tremendous impact of various online deals on consumer purchase behavior from some famous online shopping portals like Getnow and retail brands like Gul Ahmed. Thus, the New Year is going to be a mega boom for this startling industry of Pakistan. The e-commerce market of Pakistan is diverse as various retailers and businesses have already seen the potential in their respective industry to go online. Many new business ideas have been rolled in to cater the rising demands of online consumers. From small startups to big brands, every retailer is now focusing on the new avenue of online market to rise among the competition in the market. From food retailers to clothing businesses, online shopping in Pakistan is currently the hottest trend and will continue to charm its stakeholders in 2016 as well.