Evaly, a new e-commerce startup that aims to offer largest collection of products to users in a single platform, ensure fastest delivery in metros and empower retailers by offering a direct digital storefront for their offline shop, has formally launched in Dhaka on 16th December in a lunch event held at Le Meridien Dhaka and participated by industry insiders and e-commerce enthusiasts.
Founded by Mohammad Rassel, a successful second-time entrepreneur, Evaly aims to be a marketplace with the largest number of retailers and the largest collection of products in Bangladesh.
The startup says it already has over 4000 categories of products and wants to become the product search engine in Bangladesh.
“Our ambition is to build an everything store where you would literally find everything,” says Mohammad Rassel.
Evaly has started working closely with offline retailers and is offering them a storefront that they can use as their online shop. It claims to have 15,000 retailers/merchants on its platform. Users can order products on Evaly website or using its app from anywhere in Bangladesh.
Empowering retailers and building the largest product and merchant aggregator - these are ambitious goals. But there is certainly a winning business to be built in this space.
As we slowly move from penetration to the creation phase of the internet, an increasing number of businesses would need to have their online presence. If Evaly can position itself as a viable platform for retailers, it can become that storefront for a large number of retailers across the country.
Having a large number of retailers means, you automatically have a large product collection. While this makes perfect sense, customer remains a key component for any aggregator. You need customers to retain the retailers and continue to improve as a platform. Evaly says it has competitive advantages such as speedy delivery, shared trust between offline and online retailers and easy product search.
Bangladesh has made unprecedented progress in internet and mobile phone penetration. According to BTRC, the country has over 147 million mobile phone subscribers and growing and as of September 2018, over 90.05 million internet users. As more people start their internet journey, they will completely change how we shop, buy and consume.
The eCommerce industry has grown steadily in recent years in Bangladesh. The market size has grown. Big investments have happened. Payment infrastructure has improved. There are challenges as well. Logistics remains a challenge. But the signs are on the side of positives. Coupled with the internet and mobile penetration, the future of commerce is certainly going to be very different.