A group of 10 local e-commerce companies has announced a joint online shopping festival aptly named “Mega Shopping Festival 10-10” with an ambition to popularize online shopping in Bangladesh.
The festival, which is designed following the similar initiatives in the west and east such as Amazon Prime Day and Alibaba’s Singles' Day, will take place from October 1 to October 10.
The participating companies will offer hefty discounts, various rewards and prizes to randomly selected winners, free delivery and special customer service to attract customers to shop online during this period. The group said it plans to turn the event into an annual shopping festival.
Why this matters
eCommerce industry in Bangladesh is going through a phase of maturation. While the past couple of years have seen many sporadic developments in the space, it has changed over the past one year or so.
A form of consolidation has been happening. Due to changes in the Facebook algorithm that has affected FB based business negatively, many small sellers are now relying on these eCommerce platforms to attract business.
Although the sector did not see a huge growth in terms of numbers in the past few years, it has grown steadily and awareness and customer education have happened. The entrance of players like Alibaba is likely to impact the market in a major way. This new push from the local players to popularize eCommerce will certainly have a positive influence on the growth.