Kathmandu, October 11, 2018: Rajeev Amatya, the Managing Director of Daraz Nepal, Nepal’s biggest eCommerce platform, shared the journey of Daraz at Venture Talks on October 8 at the Nepal Tourism Board.
Next Venture Corp organised the 12th edition of Venture Talks which is an interactive monthly talk series with the key business players of the local market.
The audience consisted of aspiring entrepreneurs, vendors, students, journalists, market enthusiasts, investors and businessmen. Amatya expounded on the growth of Daraz for the first half of the programme whereas the second half was devoted to addressing e-commerce queries from the audience.
Four months ago, Daraz was acquired by China’s e-commerce giant Alibaba. This acquisition has worked in huge favour for Daraz, the result of which is visible in the market itself, with Daraz declaring 11/11(November 11) as a flash-sale day—Daraz expects around 1,00,000 orders on that day.
Amatya reiterated that such a big investment in the e-commerce market in Nepal would bolster a revolutionary behavioural change across the local market, which is used to the ‘feel and touch’ aspect of buying a product.
Amatya maintained that Daraz would help small businesses and sellers flourish better with the new investment, and the new packaging system would help optimize the supply chain. Other expansion plans for Daraz include collaborating with banks and financial institutions in the future to incorporate card pre-payment from their platform. If executed well, this could mean a revolutionising step for expanding cashless transactions in Nepal.
They have also revamped their site recently; on September 29 a new system was implemented across the entire e-commerce interfaces owned by Alibaba.