ISLAMABAD: The steady increase in e-commerce has opened up new avenues of growth for small and medium-sized enterprises (SMEs) in Pakistan, empowering them with tools and opportunities to compete in the digital age and contribute to the country’s economic progress.
Chief Executive of Pakistan Furniture Council Mian Kashif Ashfaq said while talking to WealthPK that thanks to e-commerce platforms, furniture and household décor accessories business has got a boost in recent years owing to the easiest access to all leading manufacturers and brands in the country through online facilities.
“Through e-commerce, furniture manufacturers in the country have got access to thousands of customers in the country and abroad,” he said, adding that online platforms and home decor websites have made it easiest for customers to trace and buy economical and valuable furniture accessories and home decor products with ease and facility while sitting at home. He also pointed out that owing to online platforms, furniture and home décor accessories business flourished during the last few years.
Haider Ahmed Qazi, Chief Executive Officer (CEO) of Master Group of Industries, told WealthPK that there are bright prospects for e-commerce, which will boost the potential of SMEs to improve performance.
Qazi said the post Covid-19 scenario played a significant role in the development of e-commerce businesses in Pakistan, and with enhanced opportunities in recent years, it is anticipated that its total volume will reach $6.3 billion.
E-commerce is a platform where anyone can utilise his skills as sources of income. E-commerce and free-lancing are booming all over the world as emerging tools of income and employment opportunities.
Following the emergence of e-commerce in Pakistan, it has become easier for consumers to access facilities and choose their favourite products. In this scenario, e-commerce not only strengthens SMEs’ ability to enhance their respective customer base, but also provides them an opportunity to get into competition with major brands of business.
However, SMEs need to seek solutions to the challenges of limited infrastructure options, digital literacy, logistics and payment solutions through sustainable development.
“DarazPK” in last few years, especially in Pakistan, has emerged as a leading e-commerce platform, which provides customers with a large choice of products with the easiest and fastest mechanism of delivery and payment.
By focussing attention on the experiences and feedback of customers and enhancing investment in the logistics department, DarazPk has won the trust and confidence of millions of customers in Pakistan.
Qazi pointed out that clothing, apparel, cosmetics, utensils, groceries, garments, shoes, and household appliances are the major products which are popular and getting significant business through e-commerce in Pakistan.
He said that e-commerce platforms provide valuable insights through data and analytics. SMEs can gain access to customer behaviour, preferences, and purchasing patterns, enabling them to make informed decisions regarding product offerings, pricing, and marketing strategies.
The importance of the SME sector for industrial development cannot be overlooked as they constitute nearly 90% of all the enterprises in Pakistan, employ 80% of the non-agricultural labour force, and contribute 40% to gross domestic product (GDP) and 25% to overall exports of Pakistan. –INP
