Economic Reporter :Online transaction is becoming more popular in the country as consumers are becoming more focused on it. Stronger security protocols and easier transaction facilities provided by banks and trusted logistic companies are driving the online buyers to rely on such transactions.The trend in purchasing through e-commerce platforms all the year round accounts for 37 per cent while during religious festivals like Eid, Puja and Christmas 27 per cent and other cultural occasions like Pahela Boishakh and English New Year 20 per cent. Most middle-class and affluent consumers enjoying an access to internet prefer shopping online.Light Castle Partners (LCP) has recently launched a report titled – ‘The Rise of Digital Consumer Class In Bangladesh’. Light Castle Partners (LCP) – a business management consulting firm – unearthed the findings in its report titled “The Rise of Digital Consumer Class in Bangladesh”.Lightcastle Partners (LCP) conducted an online study with over 450 respondents in Dhaka, Chittagong, and Sylhet-three developed markets in the country. Coming from emerging middle, and the middle and affluent class (Monthly income within USD 251-650 range) households, around 64.4 per cent of these respondents are aged between 20 to40 with 35 per cent representation from 20-30 year age group.Concentrated in Dhaka, digital aspirants are one step closer to being truly digital. Around 19% of our respondents purchase low-cost items (clothing, baby products etc.) online and prefer Cash on delivery as the primary payment option.23 per cent respondents are receiving product information online and are dependent on physical options for product evaluation and purchase/ payment. Living in growing neighborhoods of Chittagong, Sylhet, and Dhaka, they spend more time online for communication purposes only.Though it is comprised of roughly 7 per cent of respondent base, connected maestros have the highest potential to create an impact. With 100 per cent respondents having access to laptops and smartphones, this group also involves families’ chief wage earners, preferring online/ mobile payments for online purchases.Right now, E-commerce sites are getting more visitors than ever. According to LCP’s survey on Digital Consumers, in 2015, ekhanei.com was the most popular e-commerce site among Bangladeshi users (21% of the total user). Then other sites came second with 18% share. Bikroy.com ranked third with 17% share.The majority of e-commerce business in Bangladesh fall under C2C (consumer to consumer) transaction business model, where a consumer sells products to another consumer. Companies like Ekhanei.com, Bikroy.com, Priyoshop.com and daraz.com are the top players. A growing number of B2C (business to consumer) e-commerce sites also operate their businesses in Bangladesh, most of which are existing businesses adding an online shop front. However, there are also social media exclusive firms as well. B2B (business to business) transaction-based businesses in Bangladesh are the least prevalent form of e-commerce business in Bangladesh. Most companies operating in the RMG sector utilize B2B online transaction to do business with foreign firms.
