In 2018, finally, we could see some of the implications of technology fundamentally changing how business operates in the context of Bangladesh. The old rules rendered obsolete. The old playbook ineffective. And the new ways of doing things have emerged.
Technology has driven down the cost of starting a business. Technology enables niche. Technology enables aggregation far more effectively and with greater impact than the bricks and mortar world. When it comes to tech, an ecommerce marketplace is not a mere marketplace, a transportation app is not a mere transportation company and a healthcare app is not a mere healthcare service. It redefines the rules.
This has far-reaching implications for everyone. For entrepreneurs and business. For policymakers. And for consumers. It’s best to quote Sabbir Hasan Nasir, Executive Director of Shwapno, here. He explains why his company is investing in tech in a recent interview with us:
“Superstores are convenient because you are near your consumers. But you are not near enough. I don’t want to go to a superstore for shopping. I want you, superstore, to come to me. That’s where e-commerce comes in. But e-commerce is not enough. Why e-commerce is not enough because I want even more comfort. I don’t want to decide what I need at my home. You better check and decide what I need at my home and you shop it to my place. That’s the next thing. Amazon is trying hard to get there. Predicting the shopping behavior and predicting the shopping list. When companies get better at understanding their customers, I tell you, it will more shipping than shopping. Now we replenish our shelf and Amazon does their warehouse but next, we will be replenishing kitchen of our customers. That’s the next thing coming with smart refrigeration and IOT.”
Predictive shopping already has started happening in some parts of the world. And then this quote from one of our analyses in 2018 on the ride-hailing industry and policy:
“Ride-hailing is obviously a major trend. This is an interesting space. It connects both offline and online and does so very efficiently. On top of that, transportation is more like messaging in mobile, the ultimate deal in the physical world. When you dominate the nodes of transportation, you can do a lot of other things. Moreover, Ride-hailing services are app-based which allow these service providers to have a dedicated space in users mobile phone. You can use that for many other reasons. Ride-hailing, I think, allows a service provider to become a platform on top of which you can put layers. Go-Jek is a good example. In Bangladesh, it is likely that a few ride-hailing companies will try to build layers the examples of which we have already seen.
Throughout 2018 we have published intriguing analyses, rare insights into the new world of business in Bangladesh that you would not find anywhere else. Some of them will give you new perspectives on how the world of business is changing in Bangladesh and others will enable you to navigate this new world better in 2019. And others will make good food for your brain. Enjoy a collection of our Insight analyses from 2018.
Here is to the intellectually curious, relentless seekers, makers, inventors of the future, and rule breakers for a wonderful 2019!
Cover photo: Photo by rawpixel on Unsplash