Find here article about facts, information about e commerce in Nepal related to growth and opportunities in Nepal. We have posted here about some of the information about e-commerce in Nepal a case study of an underdeveloped country like Nepal. You can get some of the famous e commerce sites in Nepal in this post. As we know that history of e-commerce in Nepal is not very long. The history of e-commerce in Nepal is very short. Although there are some challenges of e-commerce in Nepal, but it is growing presenting new opportunities. You can see here regulatory status of e-commerce in Nepal given below.
The growth of e-commerce sector in Nepal presenting new opportunities for fashion industry
Over a decade ago many retailers believed that consumers will not turn towards online shopping for clothing and fashion products. However, such retailers were proven wrong as more and more consumers started to shop for fashion apparel and other products via internet. According to the report published by the Office for National Statistics clothing items tops the list for most bought item online for the year 2015 in the United Kingdom. Although developed economies have adopted e-commerce at a much rapid pace, developing economies like Nepal are also catching up with this e-commerce trend.
See also: list of e-commerce websites in Nepal
Research statistics compiled by Kaymu, one of the leading online marketplace, suggest that e-commerce business is thriving in Nepal due to increased internet penetration. In the year 2015, internet penetration rate for the country was 17.4 percent. As the data reveal more than 2.6 percent of the online shoppers are interested in apparel and other related fashion accessories.
Although e-commerce industry is still in its infancy stage in Nepal, and over the years variety of payment gateways have evolved in the country. Currently major e-commerce ventures like Kaymu and NepBay are providing their services to a limited number of cities including Pokhara and Kathmandu.
see also: e-commerce business in Nepal
According to The Kathmandu Post, the local population of the country is increasingly interested in shopping in the cyberspace. Increased internet penetration and greater awareness about various internet ventures have encouraged locals to shop for goods and services through these virtual malls.
For many people feeling and touching the actual product is a crucial part of the shopping experience, however, with the arrival of internet and e-commerce businesses this attitude is changing dramatically. People are increasingly turning to virtual stores to purchase goods like fashion accessories and clothing items. The decision to buy a product now depends on the information that is available about the brand or the product online.
As locals become more and more tech savvy, they benefit from e-commerce business ventures. They are in a better position to make an informed decision, as they can compare a wide range of products and buy products at the most affordable prices.
See Also: scope of e commerce in Nepal
The e-commerce sector is flourishing in Nepal because of the convenience it provides to consumers. As a consumer, you can get your hands on latest fashion products and apparels without any hassle. They do not have to physically go to different shops to compare products neither have to worry about making time for shopping nor have to stress about parking space. E-commerce businesses make transactions simpler, you can purchase everything and anything with just few mouse clicks.
The future of e-commerce is bright in Nepal, as an increasing number of businesses are using online platforms to sell products including Hamrobazar and Kaymu Nepal. The success of these ventures, especially of Kaymu can be attributed to the fact that it not only allows buyers to buy a wide range of products, but also allows sellers to create their personal virtual stores, it has introduced the model adopted by eBay to the Nepalese market. According to the research, the e-commerce sector in the country is expected to achieve an eighty percent increase in the number of transactions via the internet.
As the e-commerce sector expands in the country, new businesses with innovative ideas will explore niche market segments and transform the whole shopping experience for the consumers.