Evaly Turns One - A Look Back At The Evolution Of Evaly

Evaly, one of the fastest-growing digital commerce startups in Dhaka, has turned one this month. Founded by Mohammad Rassel, the company started its journey in December 2018 with an ambition of building an everything store of Bangladesh. 

A relatively late entrant to Dhaka’s digital commerce scene, the company has since been able to achieve an incredible growth using a combination of an aggressive push for growth, extensive investment in brand building, and an ingenious operational strategy. 

Today, the company is one of the largest ecommerce players in Bangladesh and aims to dethrone Daraz in the next year in terms of market share and growth. 

“Our ambition is to dominate the ecommerce market in Bangladesh. We are only a year old company and in terms of numbers and growth, we are neck-to-neck with Daraz in almost every area,” said Mohammad Rassel in a recent interview with FS. 

Evaly has built one of the most widely recognized brands among the digital commerce companies in Bangladesh. This has helped the company to build a large following on social media and a large and diverse customer base. 

While it suffers from the same challenges that have affected many other digital startups such as bad customer experience, the company has managed to achieve incredible numbers that surpassed the number of its many contemporaries. 

In an interview with Future Startup, Mohammad Rassel said, “between September-October this year, Evaly had a net GMV of $7.5M, which is higher than almost all ecommerce players in the market. The company says it plans to cross tk. 130 crore in sales in December. It has already put forward a series of lucrative campaigns.”

Understand 

• Evaly aims to build the largest product collection in Bangladesh. The company says it has made solid progress towards the direction. It has a growing number of sellers – all types of them, including brand sellers, big retailers, and small offline retailers. “We have offline retailers coming online for the first time using Evaly. Evaly has also been able to attract a significant number of small facebook and online sellers who are now using Evaly as their online home,” said Mr. Rassel. The company says it has been building its web and app from the ground up because it wanted to build custom features that allow it to become the everything store. The company has also built a diverse platform where you can find every type of product. “On the product front, we have sold almost all types of products. We are only lagging in fashion items. Other than that, we are going for all the other items. We sold cars. We sold rod and cement, jewelry, grocery and everything in between,” said Mr. Rassel. “We have achieved about 40% of our initial goal regarding everything store. However, we are still far from creating one.”
• From day one, Evaly has focused on offering price benefits to customers which goes well with the established norm of retail success across the world – offer great collection at the best price and win. Walmart has applied this in large scale retail and now Amazon is doing the same to online retail. Evaly says it aims to do it in Bangladesh. This strategy has played an important role in the growth of Evaly. 

While Evaly has seen phenomenal growth over the past year, the journey ahead is not going to be any easier for the company. 

eCommerce has grown over the past years in Dhaka. There is a certain level of market maturity and customer awareness that will influence the development in the market in the coming years. The competition is likely to intensify. 

It means, while Evaly will have to continue to push growth as it moves forward into 2020, it will equally have to consolidate its position in the market. A lot depends on how the company balances these two acts. 

Evaly Collection:

Over the past years, we’ve extensively covered Evaly. Here are some of our most interesting stories on Evaly:

1.

Mohammad Rassel: Evaly’s Ambition Is To Dominate The eCommerce Market in Bangladesh

“Our ambition is to become the dominant player in Bangladesh,'' says Mohammad Rassel, Founder, and CEO of Evaly. “We are only a year old…

2.

Evaly Connect: Adding Social Factor To eCommerce In Bangladesh

While there are examples of successful social eCommerce companies in markets like China (Pinduoduo in China that encourages group shopping),...

3.

The Rise Of Evaly: An Interview with Mohammad Rassel, CEO, Evaly

Evaly Founder and CEO Mohammad Rassel talks with Ruhul Kader about the meteoric rise of Evaly and its fast-expanding universe, the state of Evaly’s...

4.

This Is How Evaly Plans To Disrupt eCommerce Logistics In Bangladesh

Evaly Xpres is the logistics operation of eCommerce startup Evaly. It is not unusual for an eCommerce company to have its own logistics operation...

5.

Ecommerce Startup Evaly Launches With Big Ambition

Evaly, a new ecommerce startup that aims to offer the largest collection of products to users in a single platform, ensure the fastest delivery in metros...

6.

This Ecommerce Startup Aims To Build The Everything Store Of Bangladesh

Evaly, an up and coming e-commerce company, says that it has built an almost perfect collection of everything in Bangladesh - an everything store...