E-commerce in Nepal: Past, Present and Future
E-commerce in Nepal has started to grow and impact lives positively. Hungry and lazy? Food will be delivered at your doorsteps from your favorite eateries- choose the food, the restaurant and your method of payment, give them your location for delivery and BOOM food arrives where you want it! Gone are the days when you had to drunk drive to go get more booze while having a night out with your mates- service providers are ready to deliver the liquor of your choice at your doorsteps whenever you want it! These are just examples of how the evolution of online businesses have impacted the purchasing trends and scenarios in Nepal. Our country is currently taking baby steps towards a technical revolution and e-commerce in Nepal looks like a very promising and happening prospect.
WHAT IS eCOMMERCE?
To understand more about e-commerce in Nepal, first one must know the basic concept of e-commerce. E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. So basically, e-commerce means buying or selling anything over the internet. The concept is that you browse for the product of your choice online, buy what you like and it gets delivered to you. It saves you the effort, time and fuel cost. How hectic is shopping when you have to go from shop to shop looking for merchandise? All this is solved by the introduction of e-commerce.
E-commerce in Nepal is a relatively budding prospect. About a decade ago, Send Gifts to Nepal was setup with the help of which people residing abroad sent gifts to their loved ones in Nepal. Although this wasn’t exactly Nepal based, it gave people a sneak peak of what buying things online looked like. Later on, platforms like Muncha.com, Bhatbhatenionline, Thamel.com, Giftmandu et cetera were introduced but could not get their expected popularity because back then people in Nepal were just getting familiar with the Internet and it’s many wonders. With the gradual increase in the number of internet users with time, right now, e-commerce in Nepal is flourishing and gaining huge momentum. People are loving this idea of shopping with the help of their devices- not only clothes but everything from furniture to food, liquor to electronic appliances.
With more people getting access to the internet, the future of e-commerce in Nepal looks even more promising. Because of that, even traditionally run businesses are looking to hire personnel to make their business e-commerce friendly as well. The market is evolving rapidly and those who do not keep up with it are bound to be swept off their feet. The internet is what’s trending right now and it will be the case for the foreseeable future. There may soon come a time when even a small Nepali household will buy their rice, lentils or toothpaste with the help of e-commerce. That is the potential right there. How it will progress depends on how well the businesses can integrate this into the lives of their customers. So far, so good!
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