“If your business is not on the internet, then your business will be out of the business.” – Bill Gates, Founder of Microsoft
In recent context around the globe, E-commerce business, has been growing by leaps and bound. E-Commerce, in general, embodies the concept of doing commercial transaction over the Internet. It has been experiencing the rapid growth since its evolution, even in Nepal. Just think of it, people who need to get Groceries is getting all the preferred items on their door step in just a click. The E-Commerce has made the daily life of individuals convenient and even more to those who are swamped with their works. It has helped to save the valuable time of people. Similarly it has huge contribution on economic growth too.
History of E-Commerce in Nepal
Initially the E-Commerce was introduced in our country just with the purpose that the Nepali people residing abroad can send gifts to the one in Nepal. People outside the country were given an opportunity to send presents to their loved ones in Nepal. This is how the concept of E-Commerce in Nepal got started.
Later on, some online stores wore seen but those were just virtual stores having no product as well as lacking management of customer service. No proper process of buying and selling online was to be seen. The purpose of virtual stores in Nepal was just to bring the awareness of E-Commerce among the mass of people. This way the E-Commerce came into existence.
Current Status of E- commerce in Nepal
Nepal has been witnessing a whirlwind growth in online business. But still the condition has not come up-to the point as it is meant to be. For E-Commerce business there’s no proper registration which majorly leads to the mushrooming of Online Stores in Nepal. Similarly, the owner of online store lacks proper knowledge about how E-Commerce really operated and new technology and methods of boosting your store through online platform. It has been a piece of cakes to many people to start E-Commerce, having said that it doesn’t mean that there are no any good online businesses in Nepal. There are. For instance, Daraz online, Sasto deal, Munchha.com, URBANGIRL etc.
If we see from the perspective of buyers, the first thing that comes is trust issues. Trust for what? Trust for the products they buy online. Some people have discontinued buying online because of the bad experiences of getting worst customer service, delivery of not exact products, and no return policy. On top of that there is lack of online payment gateway. Simply, buyers buy from social media such as Facebook, Instagram but they can’t pay online and are said to make cash payments when the goods will be delivered, i.e. cash on delivery. Elder generation still prefer the traditional shopping habit, going from shops to shops and barging to the fullest and getting things done.
Future of E commerce in Nepal
The future of E commerce business in Nepal seems to be very promising. Online business houses are upgrading their system and learning ways for customer satisfaction and expanding their market. Still there are limited number of applications of online business, since most are just on social media like Facebook and Instagram. Also, slowly people are catching the trend of online shopping. Still a lots of infrastructure is lacking. Hence, a careful analysis and perseverance will surely pay off as the country is finally over its transition phase.