Course Name: Macroeconomics

Course Code: ALD 2204

Submitted To

Ratan Ghosh
Assistant Professor
Accounting & Information Systems
Bangladesh University of Professionals

Submitted By
Team Name: "Beginners"

Members
1. Md. Foysal Ahmed, Roll: 2021141010
2. Sakib Mahmud Bandhan, Roll: 2021141012
3. Mahedi Hasan, Roll: 2021141076
4. Md.Tanvir Ahmed Shawon, Roll: 2021141080
5. Md.Atiqur Rahman Chowdhury, Roll: 2021141070
6. Md. Ashraful Islam, Roll: 2021141096

Submission Date- 14th December 2021

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 Acknowledgment

Doing any work is impossible without the help of the almighty that is why we are very thankful
to our almighty for giving us a chance to complete our term-paper in time. Then, we would like
to thank our respected course teacher Asst.prof. Ratan Ghosh for giving us an opportunity to
acquire knowledge about the Impact of E-commerce Sector on Economy of Bangladesh
through completing this term-paper. Without everyone’s support, it was quite impossible for
us to complete the term-paper perfectly.

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 Letter of Transmittal
14th November 2020
Asst.Prof. Ratan Ghosh
Course Teacher- ALD 2204,
Department of Accounting and Information Systems,
Faculty of Business Studies,
Bangladesh University of Professionals (BUP).

Subject: Submission of a Term-Paper on “Impact of E-commerce Sector on Economy of

Bangladesh”.

Honorable Sir,
With due respect and honor, we would like to let you know that we are very pleased to submit
this term-paper on “Impact of E-commerce Sector on Economy of Bangladesh”.
Though We are on the learning curve, this report has enabled us to go deep into the core fact
of e-commerce sector in Bangladesh. So, it becomes a challenging and helpful experience.
Thank you for your supportive consideration for formulating an idea. Without your Inspiration,
this report would have been an incomplete one.
We humbly request you to accept this term-paper for your kind evaluation.
Sincerest gratitude for your limitless guidance.

Sincerely yours,
Team Name: "Beginners"
1. Md. Foysal Ahmed, Roll: 2021141010
2. Sakib Mahmud Bandhan, Roll: 2021141012
3. Mahedi Hasan, Roll: 2021141076
4. Md.Tanvir Ahmed Shawon, Roll: 2021141080
5. Md.Atiqur Rahman Chowdhury, Roll: 2021141070
6. Md. Ashraful Islam, Roll: 2021141096
Batch: AIS-5(2020)
Department of Accounting and Information Systems,
Faculty of Business Studies,
Bangladesh University of Professionals (BUP)

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 Table Of Contents

ABSTRACT ............................................................................................................................................. 6
INTRODUCTION .................................................................................................................................... 7
ORIGIN OF THE REPORT ....................................................................................................................... 8
Significance........................................................................................................................................... 8
Objective .............................................................................................................................................. 9
Literature Review ............................................................................................................................... 10
Research Methodology ...................................................................................................................... 11
Concept of E-commerce: .................................................................................................................... 12
Current Status of E-commerce in Bangladesh: .................................................................................. 14
Findings & Recommendations ........................................................................................................... 16
Recommendations for the impediments ........................................................................................... 17
Conclusion .......................................................................................................................................... 18
References .......................................................................................................................................... 19

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 ABSTRACT

This research is about the impact of the e-commerce sector on the economy of Bangladesh.
Throughout this research, we will try to find out the affects, the outputs of the e-commerce
sector in Bangladesh. We are going to determine our position in terms of size, function, and
features of our existing e-commerce sector activities. The first section of this report is based on
the introduction which contains subjects like the background to our study, methodology, and
strategy toward the task. Basically, it specifies the way and background of the study to generate
the report. Then, we will discuss the current position of the e-commerce sector in Bangladesh.
How they are operating their business. What they are giving to our economy will be explored.
After that, we will try to know the fact and figures in this pandemic concerning this sector.
Then will try to know the issues and difficulties of this area. We shall find out the expansion
of this sector in Bangladesh. Then how it is impacting our economy. At last, We will try to
provide some proposals to grow this industry more significantly and put the sign of it’s impact
on Bangladesh’s economy more and more.

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 INTRODUCTION

Web based business implies electronic trade which is identified with online business or online
exchanges. The innovation ordinarily holds for online discount spending or buying and selling
produced labor and products through the web. The world is becoming quicker with the gift of
innovation. Bangladesh is likewise getting comfortable with the innovation. The effect of the
internet business area is getting higher than previously. It is adding to the economy of
Bangladesh.

The internet business area improvement has outperformed all possibilities and drastically
affects changing the economy. Bangladesh is one of the most vigorously involved countries on
the planet with around 161.4 million residents living in a unimportant region. Bangladesh has
web clients around 15.0% of the populace. Thusly, this is a plot of possibilities for online
business. The internet based business bargain in Bangladesh has been growing continuously
over the period with the change of the modern climate. With the progression of living pay
prerequisite and quick pace of busted metropolitan life shopping comportment of the customers
have changed fundamentally.

Bangladesh is standing firm on 47th footing on the planet in web based business. As per
Statista, the web based business area in Bangladesh in 2019 raised at 1648 million USD which
will ascend to 2077million by this current year and in the year 2023, the commercial center
reach will be 3077 million USD.Enormous web-based internet business stages like Alibaba,
Amazon are showing their advantage in Bangladesh as around 700 crore BDT are being acted
in this area consistently these days. Alibaba has currently showed up in the web based business
of Bangladesh by buying Daraz. About around 1,200 partnerships are connected with online
business in Bangladesh. There are some settled or blasting organizations like Evaly,
Bikroy.com, Bagdoom, Ajkerdeal, Rokmari, Priyoshop, Othoba, also Pikaboo. There is some
internet banking area like bKash, Rocket, City Touch computerized banking, EBL
SKYBANKING, SC Mobile Banking, NexusPay, and MTB Smart Banking. The volume of
web based business is around 1700 crore BDT each year. Around 1,000+ web based business
visionaries in Bangladesh maintaining their business through a web-based stage. All things
considered, rather than set up nations, the web based business area of Bangladesh is as yet in
its underlying stages. Online business has a palatable development rate and assuming an

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incredible part in the economy of Bangladesh. With the point of accomplishing manageable
monetary advancement alongside business development, the public authority of Bangladesh
should bloom online business.

ORIGIN OF THE REPORT

The outcome will give us some information on the Impact of the E-business area on the
Economy of Bangladesh. This research paper will give us data about our monetary extension
through web based business. It likewise gives us a full rule on the past, present, and assessed
future states of e-initiate just as the development of expanding GDP for web based business.
Bangladesh has a creating monetary market, and it is GDP is expanding step by step. Thus, the
overview is principally zeroed in on the effect of internet business areas on GDP. Ongoing
patterns in GDP just as the web based business area were talked about and clarified how they
were identified with one another. The review likewise examined how the online business area
adds to GDP and what can be the difficulties. The concentrate likewise gives the proposal with
the arrangement in regards to the difficulties.

Significance

The outcome will give us some information on the Impact of the E-business area on the
Economy of Bangladesh. This research paper will give us data about our monetary extension
through web based business. It likewise gives us a full rule on the past, present, and assessed
future states of e-initiate just as the development of expanding GDP for web based business.
Bangladesh has a creating monetary market, and it is GDP is expanding step by step. Thus, the
overview is principally zeroed in on the effect of internet business areas on GDP. Ongoing
patterns in GDP just as the web based business area were talked about and clarified how they
were identified with one another. The review likewise examined how the online business area
adds to GDP and what can be the difficulties. The concentrate likewise gives the proposal with
the arrangement in regards to the difficulties.

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 Objective

E-commerce has been trembling and influencing the corporate environment and cracking out
different aspects of accomplishing business. Therefore, it has grown to be essential to evaluate
the environmental aspects, which will dynamically regulate the enactment of the e-commerce
sector in Bangladesh.

The objectives of the study are:

• To know the relation between e-commerce and the economy of Bangladesh.
• To evaluate the current environmental influences to decide whether e-commerce may possibly
be executed in Bangladesh.
• To know the booming condition of e-commerce will influence GDP or not.
• To analyze the positive or negative impact of e-commerce in the Bangladesh economy.
• To find out possible solutions and future circumstances.

Limitation of the study:

For preparing this report we have faced some limitations. These are:
1. Time constraint.
2. Lack of sufficient information in finding the secondary data.
3. Faced difficulties in taking primary data.
4. Unable to cover all the areas of every sector related to the topic.
5. Unable to get access to some articles about this topic.
6. As we have worked in the time of pandemic of COVID-19, it was not easy to contact every
member of our group.
7. Lack of the scope of data collection

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 Literature Review

The phrase ‘e-commerce’ has already established itself as an inevitable element for building
business strategies. E-commerce is described as the process of purchasing, selling, transferring,
or exchanging products, services or information via computer networks, particularly the
Internet [Turban et al., 2008]. Hunt (2007:1) provided a complete definition of e-commerce:
“e-commerce is the use of electronic communications and digital information processing
technology in business transactions to create, transform, and redefine relationships for value
creation between or among organizations, and between organizations and individuals.” It is
described as the type of industry where items and services are bought and sold over electronic
systems such as the Internet and other computer networks. Babita [2014] found that e-
commerce may be a marketing strategy or approach that is employed by business organization,
industries and corporation for business using the internet system.

Wiengarten [2013] revealed that e-commerce enabled collaboration affect directly and
positively on the numerous elements of operational performance examined. Michael [2014]
indicated that e-commerce positively affects overall firm’s performance and internal process.
Asghar and Stephen [2013] discovered that e-commerce influenced the brand and corporate
image of company where security and privacy are regarded as the main barriers to e-commerce
adoption. There is a significant corpus of literature on adoption of e-commerce throughout
different countries.

Research Gap:
The goal of this research project is to learn about the growth of e-commerce in Bangladesh. As
a result, we examined both primary and secondary data on this subject. In this term paper, we
researched the evolution of e-commerce, its current state, and future projections, how it would
spread swiftly in this pandemic, the hurdles to developing an e-commerce market, and their
solutions. We've found that it's growing faster in the economic market than in other industries.
It establishes a borderless market and fosters worldwide partnerships. However, due to several
shortcomings, users are deprived of a decent online service. Because of the pandemic, it was
hard to acquire primary data, therefore we had to rely on secondary data. We attempted to
provide information from the late 1990s through 2021. There were certain difficulties in

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gathering data, gaining access to the data as well as websites, and so on. We did everything we
could to deal with the problems.

Research Methodology

Data type:
The data we collected for the study includes both quantitative and qualitative data. The data
are all secondary.

Source:
The data were sourced from reliable articles, journals and official data containing sites online.

Method:
All data were collected through internet search engine.

Objectives:
There are several aims of our study, including to know the relation between e-commerce and
economy of Bangladesh, a brief history of ecommerce and it’s potential. In addition, to know
the factors behind the growth of e-commerce and its socio-economic impact. Lastly, to find out
issues related to e-commerce that have arisen or may arise in the future and possible solution
to overcome them.

Limitations:
There were time constraints, so we didn’t have enough time to conduct a more complete and
reliable research. The study is entirely based on secondary data. There was a lack of availability
of up to date information online. There was lack of scope of data collection as some of the
available information online weren’t accessible. There was communication constraints with
our group members..

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 Concept of E-commerce:

E-commerce, often known as electronic commerce, refers to transactions conducted through

the internet. When individuals and businesses buy or sell goods and services over the internet,
this is referred to as e-commerce. Other activities covered by the word e-commerce include
online auctions, internet banking, payment gateways, and online tickets. Whereas e-business is
concerned with all aspects of starting an internet firm, e-commerce is just concerned with the
exchange of goods and services. E-commerce frequently entails the use of the internet for at
least some of the transaction's life cycle, but other technologies, such as e-mail, may also be
used.

The following are the most common types of e-commerce models:

1. Business to Consumer (B2C)
The most frequent type of e-commerce is business-to-consumer (B2C). When you buy an item
from an online store, you are engaging in a business-to-consumer transaction.

2. Business to Business(B2B)
A firm selling an item or service to another company, such as a manufacturer and a wholesaler,
or a wholesaler and a retailer, is referred to as B2B e-commerce. Business-to-business e-
commerce does not target consumers and usually involves raw materials, software, or
integrated items. Manufacturers can sell directly to retailers through B2B e-commerce.

3. Director-to-Customer (D2C)
The newest e-commerce model is direct-to-consumer (D2C), and trends in this area are
constantly shifting. A direct-to-consumer (D2C) product is one that is sold to the customer
directly rather than through a retailer, distributor, or wholesaler. Subscriptions are a huge D2C
market, just like Instagram, Pinterest, Facebook, and Snapchat.

4. Consumer to Consumer (C2C)

The sale of an item or service to another consumer is referred to as C2C e-commerce. Platforms
such as Craiglist, Ebay, and others facilitate consumer-to-consumer transactions.

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5. Consumer to Business (C2B)
When a person offers their services or commodities to a business, this is referred to as a
consumer-to-business transaction. Photographers, consultants, freelance writers, and other
business-to-business professionals are among the visible influencers.

E-commerce in Bangladesh:
The history and growth of e-commerce in Bangladesh is older than we tend to think. In the late
1990s, our country experienced a smaller version of e-commerce to accommodate NRBs wish
to send presents to their loved ones in Dhaka. Later, from 2000 to 2008, the spread of e-
commerce was quite gradual. During this period there were various lacking in payment
gateway, delivery system, client education about e-commerce, etc. Later, with the arrival of
SSL COMMERZ in 2010, e-commerce gained traction in the country. Finally, when two e-
commerce sites, Akhoni and Ajkerdeal, were presented to online clients in 2012, the situation
began to alter. It had gotten great feedback from clients, notably in Dhaka. Along with locals,
foreign investors such as Olx, Daraz, and Kaymu entered the competition. A site called
rokomari.com, which follows a similar business strategy to Amazon, had started selling books.
Bikroy.com is another example of an organization with a distinct business approach. They
provide both purchasing and selling alternatives for consumer things on their site. FMCG and
grocery companies have also entered the e-commerce industry, with websites such as
othoba.com, pickaboo.com, and chaldal.com representing their respective industries. Pathao
Food, Hungry Naki and Food Panda are two well-known food or grocery delivery e-commerce
businesses in Dhaka and Chittagong. As a result, the spread of e-commerce is expanding by
the day.

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 Current Status of E-commerce in Bangladesh

Growth & Current Status of E-commerce in Bangladesh

E-commerce in Bangladesh is still a very new and fledgling business sector, however it is fast
rising. Bangladesh entered a new era of e-commerce in the 2000s. Since then, the Internet has
made considerable gains in this country. Bangladesh's Internet users increased to 116 million
in March 2021. Bangladesh's population was 167 million at the time, and 70 percent of the
population had access to the internet. Bangladesh opened the 4G network on February 19, 2018.
The Statista has claimed that Bangladesh is in the 47th position in the world in e-commerce. It
can be stated that Bangladesh's economy is undoubtedly increasing; it is a developing country
with a wide range of commercial potential in its diverse areas. With the shifting corporate
climate, internet transactions have gradually increased over time. At present all the banks in
this country are managing transactions and other activity through the internet. According to the
most recent Statista statistics, the sector in Bangladesh was valued $1,648 million US dollars
in 2019, and it is anticipated to expand to $2,77 million this year and $3,77 million by 2023.
Especially during the Corona pandemic, only this industry gained the most. Even at this time,
the cattle market has been brought on the web platform for Eid. There are 36 million active
social media users in the country, with 8.4 million of them using Facebook. The Facebook
commerce (f-commerce) business is worth around Tk 312 crore. Along with hundreds of
entrepreneurial organizations, almost four lakh female entrepreneurs offer products on
Facebook and other internet platforms. During this time, web usage has grown by 50 percent.
Five lakh persons would be involved in Bangladesh e-commerce during the next five years,
according to official government statements. Around TK 700 crore is now transacted in this
market per month. To put it another way, the yearly transaction currently reaches 8000 crores
TK. Approximately 1,200 firms are presently dealing with e-commerce in Bangladesh.
According to e-Cab sources, this industry in Bangladesh has expanded by 100 percent in the
last three years. In other words, this business is virtually double every year. China's Alibaba is
currently the market leader in Bangladesh's e-commerce company. Amazon, the world's largest
e-commerce company, is also interested in Bangladesh. Alibaba had already entered the
Bangladeshi e-commerce market with the acquisition of Daraz. In 2018, Alibaba Group
purchased Daraz Group, one of Bangladesh's major eCommerce firms. Daraz said in June 2020
that it will invest $59 million in Bangladesh by 2021 to expand its eCommerce logistics
infrastructure, including its warehouse and sorting facility.

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Almost everything may now be bought and sold online in Bangladesh. As a result, Bangladesh's
e-commerce market has reached one and a half billion US dollars, according to Statista, People
are increasingly buying their favorite goods online from the convenience of their own homes.
Every day, over 35,000 people use e-commerce sites; Dhaka, Gazipur, and Chattogram account
for around 80 percent of e-commerce customers; and the majority of purchasers are between
the age of 18 to 24 (88 percent), with 174 male respondents and 76 female respondents.

Present Scenario of E-commerce in Bangladesh:

B2C e-commerce websites have previously been mentioned. C2C companies are rising as well.
Bikroy, Evaly, Several Bangladeshi business-to-business websites focus on manufacturing and
supply chain solutions. The Bangladesh Garment Manufacturers Employee Association
(BGMEA) and other significant ready-made garments (RMG) firms, for example, have created
B2B e-commerce platforms for international RMG orders and procurement. In huge urban
regions, B2C websites have gained prominence. These sites are online markets akin to eBay
on an individual and auction-based basis.

There are four types of E-commerce in this country and their related top companies are given
in the table below
Types Related E-commerce Sites
B2B Address Bazar, Bust Tread, Bizbangladesh.
B2C Pathao Food, FoodPanda, Evaly, Daraz, Chaldal, Rokomari,
Priyoshop etc.
C2C Bikroy.com, cellbazar, clickbd.com, jobsA1.com
B2E Various employee websites.

Various E-commerce sites and their traffic:

Serial Company name Type of Websites: Traffic

Business
1 Evaly B2C Evaly.com.bd 5.20M
2 Daraz B2C Daraz.com.bd 4.70M
3 Chaldal B2C Chaldal.com 3.30M

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 4 Ajkerdeal B2C Ajkerdeal.com 1.10M
5 Rokomari B2C Rokomari.com 931.8K
6 Priyoshop B2C Priyoshop.com 1.00M
7 clickBD B2C Clickbd.com 814.30K
8 Bagdoom B2C Bagdoom.com 834.90K
9 Othoba B2C Othoba.com 619.30K
10 Pickaboo B2C Pickaboo.com 514.40K

Findings & Recommendations

Bangladesh e-commerce is increasing, and the market size is getting bigger. However, various
constraints are restraining the market growth and entrepreneurs having a harder time running
their firm. Some of them are listed below:

• Lack of logistics and transportation System, hindering e-commerce traders to expand

their firm. That instantly affects the delivery services, national road and highways have
yet to reach an international standard that allow the speedier delivery services. The
delayed traffic impacts rapid delivery of items in the city as well.

• Due to the absence of government policy, merchants, are misled by multiple forums
and management organizations regarding firm models, planning, and marketing. Lack
of policy causes a big comprehension gap between firms and customers. Though
recently the government has authorized the e-commerce law and it has to be execute as
soon as possible. That will eradicate all the confusion in the air and create a beneficial
environment for everyone.

• Shortage of funds, local entrepreneurs having a horrible time to manage money and
financial help. E-commerce now at development stage, hence investors are not sure and
clear about its growth. The government needs to step up and take the initiative to
encourage such businesses.

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• Trustworthy payment method, e-commerce in Bangladesh still has not acquired the
consumer’s "Trust" that’s why we notice more than 90 percent payment done on
delivery. Strict policy, trustworthy and safe payment process is the only option to
overcome this issue. Another issue is the number of credit and debit cards users in
Bangladesh; The number is deficient and insufficient. Bangladesh Bank has a big role
to play here; they should push the public and private bank to take the initiative to
encourage people to use cards and lower the TXN fee for credit and debit card.
Beginning of this year, we have seen the development of the e-wallet or e-payment
system; it will surely help online and e-commerce payment.
• Integrate social media with an e-commerce platform; Facebook is the quiet competitor
of e-commerce. There are thousands of tiny merchants that are running their business
through social media notably on facebook. Technology is changing fast and so does the
consumers shopping habit or pattern. Nowadays, users spent more time with their cell
phone than their laptop or desktop PCs. So businesses need to grasp the consumer’s
demand and act according to it.

• Lack of information, Bangladeshi business and consumers are yet to thoroughly

comprehend the benefits of e-commerce. ICT ministry, e-CAB, and BASIS have a key
role to play here. They need to bring more skilled and experienced persons in e-
commerce to build campaigns to advertise nationwide. Their unified efforts can make
this a success.

Recommendations for the impediments

E-Commerce is not merely a website. It is more than this. An e-commerce site is often as
distinctive as the business model it follows. For example, any of the following might also
apply:
Product relationships/suggestions (up-selling).
Customized/Personalized products.
Ticketing and unique code creation (for usage on multiple sites/services).

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 Discounts, Coupons, and Gift Cards.
Tax computations and exemptions.
Multiple currency and linguistic support.
Fulfillment and inventory management.
Notifications (both administrative and customer).
Reporting.
One-step checkout.
Multiple payment methods.
Data Migration (from an existing store or database).
Integration with non-commerce services (marketing data collection, newsletters, sharing
purchase information on a social network).

Conclusion

By creating internet business, a non-industrial nation can be modernized. In Bangladesh, the

internet business area is rising step by step. The market has become progressively more unique.
It ought to give internet business organizations security. Unfamiliar venture is needed at the
very same time around here. Internet business destinations dispersion channel should be made
more solid. In country regions, superior grade, minimal expense broadband ought to be
guaranteed. The stockpile of the electronic business market and the arrangement of client
experience ought to be given more significance. There is a need to make a quick move to ensure
customer insurance to keep away from deluding clients and conveying unsatisfactory products.
The business has colossal potential, thinking about the difficulties, and internet business will
assume an essential part in the country's GDP in the coming years. The public authority needs
to give really subsidizing and back to the area as a feature of the Digital Bangladesh project.

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Bangladesh. Innovative Marketing, 15(4), 27–41.
https://doi.org/10.21511/im.15(4).2019.03

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Thank You

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