Kaymu is a virtual marketplace spread across a number of countries around the world. This online marketplace brings together buyers and sellers of various kinds of products including electronics, clothing, mobile devices and what not! Basically Kaymu is an aggregator that brings numerous dealers from social networking sites and other online platforms with their trending online sites and offers them a bigger stage and expert community of advertising, conveyance and in addition, client administration. This is something that Bangladesh sellers have an edge on and can make the most of it. Additionally, what is truly vital is that Kaymu is extremely alluring for purchasers.
E-commerce Situation in Bangladesh
Bangladesh is one of the top 10 countries with the largest population where emerging trends are headed for smartphones and online transactions. The young people these days possess entrepreneurial skills and wish to make progress. The e-commerce industry in Bangladesh is experiencing new horizons of success and innovation as more and more online trading platforms are emerging on daily basis.
According to BASIS (Bangladesh Association of Software and Information Services) more than 2000 online trading platforms have entered Bangladesh in just 3 years. The rapid growth in internet users and mobile phone coverage has influenced the online retailers to sell online and make their customers’ shopping experience more convenient. The economic growth with better technological infrastructure and internet boom have altogether made Bangladesh an attractive market for international as well as local entrepreneurs.
A look into Kaymu’s unveiling of the large market potential would tell us that Kaymu catered to an important need. Kaymu not only caters to big companies but also to individuals, giving their businesses a chance to grow by providing a medium. Kaymu is empowering regular people to sell, to earn and to succeed. The big advantage of Kaymu is that it offers them an avenue to increase sales without any capital investment. It’s as simple as taking a picture, uploading it on the Kaymu website and allowing Kaymu’s traffic to attract sales for you.
Kaymu Bangladesh has recently got hold of the no.1 spot as the online marketplace in Bangladesh. This has largely been because Kaymu offers convenient, reliable and secure transactions. The convenience of shopping online is ready to eliminate conventional methods of shopping. Also, mass transit traffic jams make it convenient for products to be purchased and sold online.
All sellers have a trusted delivery partner who is collecting cash on the doorsteps and then returning it to the merchant. As for the buyers, Kaymu has a system where they can rate sellers on the website. Depending on past buyers’ rate and reviews on sellers using stars, buyers can make their purchase decision. For example, five stars would mean the seller is reliable.
“We have 30-40% of returning customers and with a consistent 70% of the new customers each month” says Syeda Umaila Akhter from Kaymu Bangladesh. “Our base of customers is growing very fast. This means part of the customers who were satisfied are coming back. But there is also a fresh input of new customers every month, which means we are growing fast as well.”
How Kaymu is influencing SME trend in Bangladesh?
SMEs of Bangladesh are greatly influenced by now-changing e-commerce trends as it has provided them a new horizon to perform their business activities in a more feasible way. The technological advancement and more internet usage have motivated various small business owners to shift their regular business operations online. This has reduced their costs greatly and has given them a wider scope to reach out to their target market.
Additionally, various start-ups have gained a great deal of advantage from this e-commerce boom and have come up with the innovative business ideas to make their mark in the market. Kaymu is one such business model that has created a benchmark for these start-ups to broaden their scope of doing business online. Kaymu has not only helped businesses and retailers but has also greatly benefited the consumers. Since people have access to internet, they have greater options to select, compare and order products online without any delays and hurdles.
The e-commerce industry has given cost advantage to both the buyers as well as the sellers across Bangladesh. The user’s perspective of shopping has broadened since the internet and mobile technology have together made them sharp, informed and powerful to make purchases online.