November 25, 2021
By Asif Shahzad
Islamabad (Reuters) – Pakistan’s largest e-commerce retail platform, Daraz, aims to host up to 300,000 small and medium-sized enterprises (SMEs) in two years, the CEO said. The company has potential competition with the global giant Amazon.
E-commerce growth in 220 million countries, such as retail giants such as Amazon and Wal-Mart, and neighboring India, where large local platforms operated by Reliance Group and Tata Group of India are on the market. It hasn’t started completely yet.
Founded in Pakistan in 2012 and acquired by Chinese giant Alibaba in 2018, Daraz has 100,000 SMEs in Pakistan.
In an interview Wednesday, Bjarke Mikkelsen said, “We hope to win 300,000 active and educated SMEs to sell on our platform within the next two years. Will basically create one million jobs. “
Pakistan’s fast-growing middle class, over 60% youth population, over 100 million broadband contracts,
It will be a favorable destination for e-commerce platforms.
Earlier this year, Amazon announced that it would allow Pakistani entrepreneurs to sell their products in their markets.
Prior to the interview, Mikkelsen met with Prime Minister Imran Khan and his finance and investment team to discuss adjustments in the free zone to give tech companies special incentives for their prosperity.
With operations in four South Asian countries: Sri Lanka, Bangladesh, Nepal and Mayanmar, Daraz is a team of 10,000 employees with access to 500 million customers. In the last two years, he has invested $ 100 million in Pakistan and Bangladesh, Mikkelsen said.
He said he is targeting sales of nearly $ 1 billion through the platform this year and has seen a 100% year-over-year increase in orders over the past four years.
According to Ministry of Commerce data, the value of Pakistan’s e-commerce sector increased by more than 35% in the first quarter of 2021 to 96 billion Pakistan rupees ($ 548.89 million).
Of the 70 million users who visited the Dara’s website last month, 35 million were from Pakistan. More and more people are ready to use digital services in Pakistan, Mikkelsen said.
He added that e-commerce in South Asian countries where Daraz operates is only 2% of the retail market and can grow 10 to 20 times.
($ 1 = 174.9000 Pakistan Rupee)
(Written by Asif Shahzad, edited by Emeria Sithole-Matarise)
Pakistan’s e-commerce platform Daraz aims to strengthen Amazon’s eyes as they reach the market
Source link Pakistan’s e-commerce platform Daraz aims to strengthen Amazon’s eyes as they reach the market