Sep 09 , 2020
We as humans beings one way or the another opt for things that can give us great results or services in quick and a short amount of time. Most of us spent time online and talking of which most of us love shopping and what could be easier to get all that products that you had to go and get which consumed a lot of time just a click away, fascinating right? Well, thank you to the e-commerce that has made this dream come true for all of shopping lovers.
Online shopping is the process of buying and selling products from Internet. Since the emergence of this social media era, buyers have been selling their products to people who are surfing the internet frequently. Shopper visit numerous websites from the comfort of their homes and get them delivered to their door step.
Online Shopping trend has revolutionized retail. It has evolved to meet the needs of people, and to make online shopping easier for everyone. When it started, online shopping was not a trend in Pakistan but it has now become a very successful trend in Pakistan one reason being of convenience.
Let’s understand this with a very simple example.
If one has to buy a pair of shoes, he has to drive through the traffic and reach to the store, find a parking place and then look for the product in the entire store until he locates the product he needs. Even after finding the desired product, he may often need to stand in long lines at the cashier.
On the other hand, online shopping helps us avoid this disadvantages and time consuming process with just a click. We simple search for the out desired product in one of our search engines, it give us a numerous amount of websites to choose from and then just by clicking the required website, we simply browse through the items we need which are even held in a virtual shopping cart and shipped to directly to you with just one tap.
The diversity of shopping online is really vast, We can purchase just about anything, from a needle to car, books, clothing, jewelry, electronics such as mobiles, household appliances, hardware, software, toys for kids and even health insurance are just some of the hundreds of products and services we can buy from an online store.
This trend is growing so fast mainly due to these following reasons:
- Sublime convenience:
Online stores never close. They are open 24/7. In comparison to a brick and mortar store with fixed hours, We can choose any time of the day or night to get on the internet and start shopping.
You can dream of a product all day long and then purchase it anytime of the day.
- Comparison of prices:
When you visit a store physically, You have to purchase a item at the given price of the vendor and further if you need the product in a lower price you have to indulge in negotiation which is a skill only few have mastered. With online shopping you can compare the prices of your item from numerous websites just by simply surfing the web.
- Infinite choice:
In a brick and mortar store the variety of goods is limited due to shelf space. Not so with an online store. If you don’t see what you want in one store online, you can swiftly move on to the next one.
- Easy review of products:
It’s easy to get access consumer reviews for any product you can think of online, which gives you a greater insight of the product you are going for.
- No pressure sales:
In Pakistan you know how we can be pressurized by the seller to buy a certain product, but luckily you don’t have to put up with this in online shopping.
Feeling relived? Because we are.
Online shopping Trends 2020:
The world of online shopping is becoming increasingly competitive. And this just adds more products for us to buy from. To stay ahead of the competition, Online stores trends need to be constantly monitored. As we move into 2020, here are some the online shopping Trends in Pakistan:
- Online Sales Growth is Unstoppable
Online shopping sales have been growing constantly. It is one of the most popular online activities. The online shopping market in Pakistan. In Pakistan is the 46th largest market for online shopping with a revenue of US$2 billion in 2019.With an increase of 101%, the Pakistani online market contributed to the worldwide growth rate of 16% in 2019. Revenues for online shopping market continue to increase.
- The Future of Online Shopping After COVID-19
Undeniably, one of the biggest impacts on online shopping trends in 2020 will be COVID-19.
With government shutting down Pakistan due to Corona virus, more and more people are turning to online shopping to purchase items. And experts predict that the impact of the corona virus will not just be a short-term boost to online shopping but even after COVID-19 it will boost up the charts of the online stores. The comfort that online shopping has provided Pakistan with, now it is hard for the customers to go back the old shopping methods.
“We have received an overwhelming response… our data shows that online orders have grown by nine times [since March],” said Muhammad Ammar Hassan, chief marketing officer at Pakistan’s largest online shopping store, Alibaba.
“We are getting hundred percent year on year growth in each item … and this has even increased since March due to the coronavirus,” Hassan said.
In fact, the online shopping industry will be the biggest legatee of the coronavirus pandemic. The COVID-19 impact on online shopping, unfortunately, has a heavy loss for brick-and-mortar stores. As many as 10,000 are forecast to shut over the next five years.
- Mobile Shopping is Growing
The growth of online shopping on mobile has been huge. Adults as well as youngsters are making purchases using mobile. Smartphones are a part of everyone’s life. Easy shopping is introduced by smartphones as they can be taken everywhere and anywhere and products can be bought simply by accessing the website and getting it delivered to your door step. Since 2016, sales made via mobile devices increased by 15%. By the end of 2021, 73% of ecommerce sales will take place on a mobile device. Due to online shopping, the usage of mobile devices has also been increased. People use mobile devices and internet to not only purchase their desired products, they first browse or research about the product to make up their mind about it. Online sellers to be mobile-friendly.
- Evolving Role of Social Media in online shopping
Social media is important for retailers because it allows them to connect directly with consumers, which in turn develops consumers interests directly with the brands. Social media has revolutionized online shopping over the last few years. The role of social media in online shopping is also rapidly increasing. Facebook and Instagram have introduced the “buy” button and “Instagram Checkout”, social media is playing a significant part in the world of online shopping.
Social media has changed and influenced they way we live our daily lives or buy things. Social media is has become the need of the youth and this is what is targeted but the brands. To improve their position in the market, the brands use social media as a great opportunity to be discovered by their target audience.
Instagram influencers, Entrepreneurs, Fashion bloggers with large number of following, help the brands to be discovered.
Actors, Celebrities, Social Media influencers work in collaborations with the brands & services to promote them.
- Use of Artificial Intelligence
Global retailer spending on Artificial Intelligence (AI) will reach $7.3 billion per annum by 2022, up from an estimated $2 billion in 2018 (BusinessWire, 2018). Artificial intelligence increases personalization of the customer care. These AI range of tools to generate offers time to time, offer chat bots to help them any time. They also respond to customer queries instantly. In the coming years AI will play an important role in online shopping as retailers will invest in large amount to increase their customer care services.
- Introduction of Holiday Offers / Sales
Globalization brings people and businesses closer, due to which different traditions and holidays have been introduced in Pakistan. Holiday online shopping trends show that short-term deals and offers work in getting consumers to purchase products. An example of this is 'The Black Friday' sale introduced in Pakistan. The very well know Black Friday sale is considered to be the extravaganza of online shopping. Black Friday falls on the last day of November. Other days like Mother’s day, Father’s day etc. are also celebrated and discounted prices are applied on various products. The majority of holiday presents are purchased online rather than in-store. 67% of the consumers we surveyed indicated that at least half of their holiday shopping was completed online.
“The findings really stress the importance of delivering an exceptional online and physical store experience all year long, so that when the time comes to buy, consumers think of your brand, product, or store first,” said Taylor Schneider, director at ADI.
Traditional holidays like Independence day, Eid-ul-Fitr, Eid-ul-Adha, are also a reason of huge sale and attracts a number of audience with their exciting new offers.
Top online stores In Pakistan
The most successful Pakistani online shopping Market is
- Gul Ahmed Shop. The store had a revenue of US$35 million in 2019.
- It is followed by khaadi.com with US$32 million revenue
- alkaramstudio.com with US$22 million revenue.
Store are ranked on the basis of revenue they generate in Pakistan. These stores are focused nationally and they sell largely in Pakistan and operate globally.
Store rankings are based on every store that generates revenue in in Pakistan. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in in Pakistan was considered.
One of the fastest-growing stores in the Pakistani market is beoneshopone.com. The store achieved sales of about US$2.1 million in 2019. Its revenue growth amounted to 375% in the previous year.
Following are some websites and online stores in the following categories:
CONSUMER ELECTRONICS IN PAKISTAN
PERSONAL CARE IN PAKISTAN
GENERALISTS IN PAKISTAN
Despite the convenience and advantages of online shopping, not everyone prefers to purchase products and services online. Some people like the idea of physically going to a store and enjoy the shopping process. Some of the reasons why online shopping is not referred by some are:
- They like to go through every aisle and select their product, touch the product, try on clothing, and be around other people.
- Online shopping doesn’t allow shoppers to touch products or have any of these experiences. It also doesn’t allow them to take the product home the same day they buy it.
- Other people may be worried about shopping online because they fear their credit card information will be stolen.
- People worry they may become the victims of online theft. This discourages some consumers from online shopping.
- Another and most widely accepted reason to avoid online shopping is the fact that the products prorated online may not be the ones we receive. Hence a waste of money and time. People worry about the product looking one way on the website and the some different way when it arrives.
- Quality is never a aspect to be compromised on. There is a huge risk of getting your product in not the quality you ordered it for and or you may not like the texture and quality of the product in real life.
- Another discouragement is when buying cloths, one rely on their body measurements so that their favorite clothes can fit them perfectly. And if it comes in some other sizes, they may wish to return it which again is an inconvenience one may not wish to face.
Market expansion in in Pakistan is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate for the next four years will be 34%.
Five categories are considered
- Fashion is the largest segment in in Pakistan and accounts for 69% of the Online shopping revenue in in Pakistan. This is followed by
- Electronics & Media with 13%,
- Food & Personal Care with 9%, Toys,
- Hobby & DIY with 5%
Furniture & Appliances with the remaining 5%
With the advancement in technology and changes in consumer behavior, you need to keep an eye out for these eCommerce trends in 2020.Offline shopping is becoming rather polar. They are two sides of a coin and everything has its advantages and disadvantages but the comfort, ease and convince online shopping serves us with can be a great factor to overlook these disadvantages. With all these on going and up coming trends of 2020, You can now shop better for less and have a online shopping experience like never before.