E-commerce in Bangladesh

E-Commerce in Bangladesh

E-commerce involves buying and selling of products and services by businesses and consumers through an electronic medium. Broadly, e-commerce is classified into four categories: business to business or B2B (Cisco), business to consumer or B2C (Amazon), consumer to consumer or C2C (eBay), and Business-to-Government (B2G). Business-to-business e-commerce involves agreements between businesses and businesses. Distribution management, inventory management, channel management, supplier management, and payment management are some of the areas in which B2B applications are widely used. In Bangladesh, bgmea.com.bd, bizbangladesh.com are examples of B2B platforms. B2C commerce involves e-commerce between businesses and consumers. This form of e-commerce involves the purchase of books or any form of consumer goods. It also includes the purchase of software, e-books, games, songs as well as e-banking. ajkerdeal.com, bdbazar.com, daraz.com, bajna.com are some examples of B2C. Advantages of B2C platforms to companies are reduced operating costs, bigger outreach, globalization, customer convenience, and knowledge management. Consumer-to-consumer e-commerce involves transactions between individual consumers. For instance, online auctions, peer-to-peer systems for money, or file exchanges can be classified as forms of C2C e-commerce. In Bangladesh bikroy.com, clickbd.com are examples of C2C platforms. B2G is usually used for licensing processes, public purchasing, and other government operations. B2G e-commerce is rather insignificant when compared to the other three forms. However, B2G can be one of the driving forces for running the public sector known as e-governance.

A wide range of technologies is used in e-commerce that includes electronic data interchange (EDI), electronic mail (e-mail), electronic funds transfer (EFT). In the case of Electronic Data Interchange (EDI), there needs to be an agreement between trading partners. EDI is a standard method for exchanging business data. E-mail and fax are also forms of EDI. In Bangladesh small, medium, and big enterprises have taken up e-business platforms. When compared to developed countries, developing countries have a higher potential for improving the business structure and raise productivity by using e-commerce as a medium. M-Commerce (Mobile Commerce) and F-Commerce (Facebook Commerce) are very popular in today's e-business world. Over the years, the number of online transactions has been on the rise. According to BTRC officials, the number of internet subscribers in Bangladesh had crossed 80 million in 2017. At present, there are approximately 2,000 e-commerce sites and 50,000 Facebook-based outlets delivering almost 30,000 products a day. Currently, 80 percent of the online sales are taking place in Dhaka, Chattogram, and Gazipur.
Online transactions in Bangladesh have been increasing over the years. Improvements in the standard of living coupled with advancement in livelihood, shopping behavior has experienced a significant shift. In Bangladesh, the e-commerce industry set sail in the late 90s but was unable to expand immediately. Gradually, over the years, banking, logistics communications, and payment methods have improved creating opportunities for the e-business sector to develop. A number of sectors including the banking sector are now using the internet payment system. As consumers can avail of credit, debit card services, and digital wallets, the cash-on-delivery system is now more accessible.

Over the last few years, internet connections have improved and the number of people who have access to the web has increased thus making way for e-commerce businesses to flourish. In 2016, $50 million was invested in the e-commerce sector in Bangladesh. Out of which $10 million was from Foreign Direct Investment. In 2017, the B2C e-commerce business market measure equaled USD 110-115 million (around BDT 9.0 billion) compared to BDT 1335.71 billion made by the retail market. The outreach of the e-commerce business market exceeded Tk 17.0 billion in 2017 from Tk 4.0 billion in 2016, as revealed from the findings by the e-Commerce Association of Bangladesh (e-CAB). The market measure for e-commerce is expected to equal Tk 70 billion by 2021. The local e-commerce industry in Bangladesh began evolving as a proper ecosystem from the year 2012. This was facilitated by expanded internet connections along with the gradual legalization and approval of online payment by the Bangladesh Bank. Initially, several banks did not support the online payment gateway system.
In Bangladesh, retail e-commerce is growing at 72 percent a month. At present, more than 35,000 individuals and above 25,000 small and medium enterprises (SMEs) are part of this sector. Till 2018, the number of e-commerce business sites and e-commerce pages equaled 2,500 and 150,000 respectively. It was estimated that the number of deliveries per day added up to about 15,000 to 20,000 at the retail level.
Before 2013, the government had placed restrictions on the purchase and sale of goods and online services through international credit cards (export.gov, 2017). In the first three quarters of 2016, the e-commerce industry achieved 67 percent growth whereas, the country's e-commerce transaction reached BDT 3.59 (Xinhua, 2016).
According to Bangladesh telecommunication regulatory commission (BTRC) in 2016, the internet penetration rate was recorded at 13.2 percent, and the number of internet users was 66.6 million. In 2017, the number of internet users reached 80.6 million along with an increase in the penetration rate to 48.4 percent. In 2018 the number of internet users further increased to 91.3 million and the penetration rate was 52.77 percent. Currently, the number of internet subscribers has reached 96.199 Million (June 2019). According to market analysts, Bangladesh's e-commerce business market will reach USD 20 billion by 2020. According to the June 2019 statistics of BRTC, 90.4 million users subscribe to the mobile internet, 0.06 million subscribe to WiMAX, and 5.73 million to ISP + PSTN connections.
Although the e-commerce sector has grown over the years, there remain a number of obstacles. Some of the key challenges are net neutrality, high-speed net, parcel delivery logistics and assurance of quality products. Foreign players also pose competition and risk to local start-ups. The sector suffers from a lack of logistics and sound transportation systems that restrict e-commerce trading to expand. The transportation system affects the delivery of products. Challenges also persist in the logistics sector. A large chunk of almost 65 percent of the operations of the e-commerce companies takes place in the capital and Chattogram. The e-commerce companies fail to reach all parts of the country, including of course the rural areas, due to poor infrastructure and inability to access remote areas for lack of adequate transport facilities.
In Bangladesh, in the majority of the cases payment is made upon delivery. 80 percent of the payments are done through the cash-on-delivery method, whereas only 15-20 percent are done through mobile payment gateways. Cash-on-delivery leads to the risk of tax evasion and also results in a lack of transparency in transactions. This is largely due to a lack of trust and the absence of a reliable and safe payment system.  In addition, the number of credit and debit card users in the country is low, as a result, many customers are unable to make online payments.  The e-wallet system is expected to overcome this problem to some extent.  bKash has partnered with the e-commerce ventures in the country and in addition, if banks also follow suit, it will be beneficial.
The e-commerce industry in Bangladesh is an emerging industry. This sector is steadily growing and attaining competitiveness. The local e-commerce companies which have been in the market since the inception of the e-commerce industry should be given protection. Simultaneously, foreign investments are required in this sector. The payment procedures offered by e-commerce sites need to be made more secure. Low-cost, high-speed internet needs to be ensured in the rural areas. The e-commerce industry needs to put more emphasis on delivery logistics and customer service. Immediate action to ensuring consumers' rights needs to be taken since a regulatory authority is not present to prevent consumers from being cheated and given low-quality or date-expired products.
Despite the obstacles, the sector has a lot of potentials and in the next few years, the contribution of e-commerce to the country's GDP is likely to be significant. The government should be more forthcoming in supporting this sector as part of its Digital Bangladesh initiative. 

 

What is SEO?

Website optimization – or SEO – is the practice of structuring your website’s pages to make it easier for search spiders to crawl your site, create an optimal user experience and provide unique information or helpful resources on a topic that searchers are looking for. This is all done in order to drive higher ranks in the SERPs – or search engine results pages. When you create content that is unique, informative, educational, and optimized, you will likely find your pages naturally rising in ranks in the SERPs. This will drive both new traffic and more traffic to your site. 

Why do I need SEO?

As more businesses, more products and services, more education, etc. move online, there is a growing interest in learning SEO techniques and strategies with the hopes of ranking higher for important pages. We did some research via Instant to learn more about what users are hoping to understand about SEO. Below are some examples of growing search trends for topics surrounding SEO for beginners. We will answer these questions in the content below.

As you can see, there is an increase in interest in the basics of SEO. If you’re reading this blog, you’re likely interested in performing SEO yourself and learning what exactly goes into the initial steps for optimizing pages of a website.

Statistics show that 28.5% of users click on the first organic SERP, 15.7% click on the second, and 11% click on the third. Less than 10% of searchers click on paid advertisements. Why? Because users don't trust them. Because of this, SEO is absolutely vital to the success of your website. 

Not only does SEO help the success of your site, though. Optimizing your site provides users with an overall better experience. For example, when you focus on page speed, a search engine ranking factor, Google will reward your site for loading quickly. On the other hand, search engines will also penalize your site for loading slowly. Slow loading pages, pages that don't provide valuable answers but are stuffed with keywords, an unresponsive website, and more will get your site penalized and dropped in rankings via search engines.

Focusing on the overall health of your site will give search engines the opportunity to rank your pages well in the SERPs. 

Why is SEO important?

So, you might be wondering why SEO is important and if it is, is it important to your industry or business? The answer is yes. The organic channel makes up 53% of all web traffic and is expecting to rise above other search traffic, year after year.

Not only is the organic traffic channel growing, but there is no media cost for SEO. If that weren’t enough to interest you, SEO can provide substantial ROI. By creating unique content that is also well-optimized, you can increase your ranks. As they increase, you will drive traffic. The more traffic, the better your chances of converting a user to a customer.

While the organic channel continues to grow, it’s important for SEOs and digital marketers to grow with it. Learning the basics of SEO is imperative but also understanding the “why?” behind it is as well. Search engines like Google are continuously evolving their algorithm with new updates on a daily basis. Why? Because Google, Bing, Yahoo, and other search engines want to provide searchers with the best possible user experience. Because of this, it is important to create content for the users, not bots.

While it’s tempting to practice keyword stuffing or accept low-quality guest blogs just for a backlink, these are poor SEO practices, and you should avoid them at all costs. Going into the beginning stages of SEO, you should understand that SEO is an ongoing process that requires time and patience. While most SEO efforts can be quick to implement, the results will take time.

What is on-page SEO?

On-page SEO includes all of the optimizations you can do to the front end of a page found in HTML source code. It includes everything involved in creating the best possible user experience for readers. Understanding on-page tactics are key to understanding SEO in general and how it works. 

On-page SEO includes the following elements:

1. Title tags
2. H1, H2 & H3 tags
3. Image alt
4. Anchor text
5. Keyword density
6. Meta descriptions
7. Internal linking
8. Tags
9. URLs

Some best practices for on-page SEO include the following:

• Write well-developed content that is fresh, original, and provides real value to users
• Use the keyword in the URL, titles, subtitles, and body copy
• Write descriptive and engaging meta descriptions and titles to clarify content and encourage clicks from the search engine results page
• Use a digestible layout that makes it easy for visitors to read your content
• Work on producing fast page speeds
• Optimize alt text and file names on images that include the topic keyword

What is off-page SEO?

Off-page SEO refers to all of the actions of your site taken off of your domain. It includes all of the SEO elements and techniques used to prove your site's worth and reputation from external digital presences including reputable websites, directories, and more.

Off-page SEO elements include the following:

1. External backlinking
2. Anchor text from external links
3. Brand mentions
4. Influencer programs
5. Guest blogging or writing
6. Social media

Use the following off-page SEO practices to gain a leg up on your competition:

• Cultivate high-quality backlinks from other websites - learn how in this whitepaper
• Build internal links using the anchor text from other pages within your domain or other sites you manage
• Develop content for publications like guest blogs that you can link back to your site
• List your business in any applicable directories
• Build your social media presence

How do I do SEO for a website step by step?

There is no perfect way to perform SEO step by step as each page and business will require different SEO elements based off of what a site is hoping to gain from page optimization. For example, if you’re optimizing a page for local users in order to drive foot traffic to your store’s location, your SEO efforts will differ. You’ll want to focus more heavily on optimizing locations pages, increasing digital citations, and creating an optimized Google My Business page.

Questions to ask yourself while performing SEO

1. Is my content out of date? If the date on your post is several years old, the content is likely also old. You may want to consider refreshing the content if there is new data and insights on the topic in order to see ranks improve.
2. What are my primary, secondary and tertiary keywords for this page? You’ll want to begin the process of choose keywords with keyword research. You can leverage Data Cube in order to find relevant keywords for your site with high search volumes. You can also leverage Instant to dive into the seasonality of search trends. Once you’ve completed some keyword research, you’re ready to choose the keywords to optimize a page for. If you’re looking to optimize a page, you should, at minimum, have a primary keyword. Secondary and tertiary keywords support the primary keyword but typically have smaller search volumes. You can check on keyword search volumes using Data Cube.
3. Are the page’s images compressed and optimized? Optimizing an image includes giving it a file name and image alt text based on your chosen keywords. Compressing an image will assist the page in loading more quickly which prompts better UX and ranks.
4. Does my keyword appear near the top of the page? Your keyword(s) should be used in title tags, H1s, and within the first paragraph of the page’s copy to easily indicate to searchers and bots what topic the page is about.
5. Can I share internal links throughout the page? Likely, if you don’t have other information or resources to link to on your page, the topic may not be optimal to include in your content calendar. If you do have opportunities to include internal links, you should do so where they’re relevant. Internal linking is used to link parts of your site together, to improve navigation, and to keep users on your site for longer.

If you’re new to SEO and working on the perfect strategy for optimizing pages, we recommend checking out this on-page SEO checklist to better guide you through the initial steps of SEO. Once you’ve checked off all the boxes in the checklist, you’re ready to get SEO efforts implemented into your page. We recommend doing this for every page until you feel comfortable performing SEO without it.

 

Lorem Ipsum is a dummy text

What is Lorem Ipsum?

Lorem Ipsum is simply dummying text of the printing and typesetting industry. It has been the industry’s standard dummy text ever since the 1500s. When an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popular in the 1960s with the release of Letraset sheets containing its passages. And more recently with desktop publishing software like Aldus PageMaker including versions of it.

Why do we use Lorem Ipsum?

It is a long-establishing fact that a reader will be distracted by the readable content of a page. When looking at its layout. The point of using it is that it has a more-or-less normal distribution of letters. As opposed to using ‘Content here, content here, making it look like readable English. Many desktop publishing packages and web page editors now use it. As their default model text and a search for ‘its will uncover many websites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humor and the like).

Where does it come from?

Contrary to popular belief, it is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock. A Latin professor at Hampden-Sydney College in Virginia. Looked up one of the more obscure Latin words, consectetur. From its passage, and going through the cites of the word in classical literature, discovered the undoubtable source. It comes from sections. 1.10.32 and 1.10.33 of “de Finibus Bonorum et Malorum” (The Extremes of Good and Evil) by Cicero. Written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of it, “Lorem ipsum dolor sit amet..”, comes from a line in section 1.10.32.

The standard chunk of its use since the 1500s is reproduced below for those interested. Sections 1.10.32 and 1.10.33 from “De Finibus Bonorum et Malorum” by Cicero are also reproduced in their exact original form, accompanied by English versions from the 1914 translation by H. Rackham.

Where can I get some?

There are many variations of passages on it available. But the majority have suffered alteration in some form by injected humor. Or randomized words that don’t look even slightly believable. If you are going to use a passage of it. You need to be sure there isn’t anything embarrassing hidden in the middle of the text. All its generators on the Internet tend to repeat predefined chunks as necessary. Making this the first true generator on the Internet. It uses a dictionary of over 200 Latin words. And combined with a handful of model sentence structures. To generate it which looks reasonable. The generate it is therefore always free from repetition, injected humor, or non-characteristic words, etc.

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A car (or automobile) is a wheeled motor vehicle used for transportation. ... Most definitions of cars say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people rather than goods.

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