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Current status of e-commerce business in Bangladesh

E-commerce is one of the most popular names nowadays. When we hear the name, we do not understand that buying and selling products online is called e-commerce. E-commerce is an easy way to realize your dreams and become sustainable as an entrepreneur. But, nowadays, the fraud of some e-commerce companies on this online platform has created anger among the customers.

And so the whole sector is now suffering from a crisis of confidence after the complaints against these institutions. These e-commerce companies, which gained popularity quickly in a short period of time, were accused of defrauding customers and merchants along with embezzling hundreds of crores of rupees. Initially, accused e-commerce companies made all kinds of ‘unusual’ offers to attract customers. Then it is seen that they are not delivering the products on time as per the promise despite taking advance payment.

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Consumers complain that despite paying for the product, they are not getting the product on time. But on the other hand, the company’s product suppliers or merchants say that their dues are not being paid day after day. And this is how the money has been stuck with the institutions for a long time.

After a few months customers are being harassed saying “product is out of stock”. In most cases, the e-commerce companies (e-commerce website) are not keeping any contact with the customers or merchants. Many attractive offers have mainly worked for these e-commerce companies to increase the number of millions of customers in a very short period of time. Where customers are spending both time and money.

E-commerce companies initially deliver products to a few customers, but after a few days, complaints from a large number of customers that they are not delivering the products on time, as well as not paying the dues of the customers, are piling up. Many people fear that the potential e-commerce sector for a handful of companies is facing a big risk in such a situation.

Read the full article for more details.

Advantages of e-commerce business:

When we buy and sell any product through online it is called e-commerce. The biggest advantage of e-commerce is that it is possible to purchase products according to choice and demand with just a few clicks at home. Because the fun of buying products at home with just a few clicks is different.

As people’s needs have changed over time, market needs have also changed. People are buying products from online market without going directly to the market. If quality products can be purchased at home then why people should go to the market. It is natural that people will turn to the online market if they get such a benefit that products are delivered to their homes with just a few clicks. Currently, there are more young entrepreneurs on e-commerce platforms. If we consider the reason why young entrepreneurs are more, then first of all, it is possible to invest less in this business and get more profit in less time.

On the other hand, creating an e-commerce website does not require much money. Because nowadays it is possible to create an e-commerce website at a very low cost. There are many organizations in Bangladesh who create e-commerce websites at very low cost (e commerce in bangladesh). So many people are now preparing for this business as the cost and time is less.

Fraud in the name of e-commerce:

Constantly, one after the other – expensive e-commerce companies such as Evely, Alesha Mart, Ring ID, eOrange, Qcom, Dhamaka Shopping and Dalal Plus are accused of irregularities and fraud. This has created a crisis of confidence among a large number of customers.

Many are stopping using e-commerce platforms. Recently, the law enforcement agencies have arrested the leaders of some e-commerce companies in the country on the charge of fraud. Also, it is still unknown whether the customers will actually receive their compensation. Buyers are often facing various problems while purchasing products online during the Corona period.

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Non-receipt of goods on time despite advance payment; They are not aware of the way to get rid of this, even though they are subjected to many ironies such as the quality of the products received against the money paid. Therefore, we feel it is necessary to have a proper policy and mechanism to protect consumer interest. In addition, consumers should be aware, especially in response to flashy advertisements of e-commerce companies, the buyer should refrain from sending money before receiving the purchased product.

Instructions are given on paper:

The Ministry of Commerce has issued policies and guidelines for the management of digital commerce to restore the status of e-commerce in Bangladesh and maintain a place of trust in the e-commerce sector. However, the victims have complained that there is a lack of monitoring to what extent these instructions are actually being implemented. The new guidelines mainly fix the timing of product delivery and refunds. It is said here, if staying in different city, delivery of goods must be ensured within 10 days.

If the e-commerce company and the buyer are located in the same city, the product should be delivered within five days. No payment can be accepted if the product is not in stock. The e-commerce companies will inform the customer through telephone, e-mail or SMS that the product has been handed over to the delivery man or delivery company within 48 hours of the advance payment of the buyer.

The delivery man will deliver the product to the customer within the next 72 hours.

Continue… (Part 2)

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