Pakistan’s Current Position in Digital Economy Market
Pakistan has always been a major connector between the east and west for several decades. History proves that it plays a crucial role in trade, crafts, and even in army movements for safety across its neighboring regions. Again, Pakistan is playing a very important part and there is bound to be a growth in its digital economy market. With the CPEC or China Pakistan Economic Corridor project in its almost complete stage, Pakistan is witnessing rapid growth in its economy or Digital Economy. Online shopping in Pakistan is on the rise and a major contributor to this development. E-commerce websites such as Daraz, Buyoye, Homeshopping and Getnow are actively contributing in promoting this online shopping industry.
A Tectonic Shift in Digital Economy Market
There is a lof of industrialization happening all over the country. This is causing a ripple effect in the country’s economy, making it a necessity for new and established businesses to consider implementing the use of online shopping stores for business.
The more accessible a business will be, the better its economic growth. There is no doubt that the use of ecommerce is on the rise not just in Pakistan but worldwide. For obvious reasons, businesses that depend on sales are making buying online easier and safer for their customers. It is proven that easier and quicker online shopping platforms attract more sales and generate more revenue.
Digital Age and Ecommerce in Pakistan
With the advent of mobile devices and easy access to internet services all over the country, people are changing their lifestyle. More people (of all ages) turn to online platforms to find what they need instantly. No matter what kind of item people need, whether it is groceries shopping or clothing, even renting cars or purchasing property, they use Google.
If a business appears among the online shopping stores listed in the search result, it will definitely get more traffic and have a higher chance of getting sales. As buying online is becoming the new in-thing, everyone wants more convenience. However, this also makes it a very competitive market and comes with other challenges.
Where is Pakistan Standing in the Digital Economy Market?
It was in the news some months ago that the World Bank Country Director of Pakistan said that Pakistan is ranking at the 147th place on the “Doing Business Index.” There has been work done to improve this over the past several years, and the fruits of the efforts should reflect in upcoming ranks.