Not too many years ago, people used to shop from local stores, facing series of problems like car parking, weather intensity, long queues and shaky shopping cart. Even when online shopping became available, people were discreet and uncomfortable to use their credit cards and providing their personal information to any cyber-shop but now, this phenomena has been changed thoroughly. Across the world, online shopping has grown exponentially. According to facts and figures, spending money on online shopping is going to increase by $10 billion in developed countries with next five years.
Although people still have some concerns of security and safety while buying online, yet more and more of them are inclined and prepared to shop online. Online shopping is featured with numerous advantages including, faster delivery, easy return policy, and free shipping that has increased the desirability of online buying. IBIS World Research, an influential source about industry research and reports, forecasts 8.6% per year growth in online revenues over the next five years. Growth in online shopping is characterized by strong consumer demand, availability of products and an increasing number of buyers along with savvy internet users and individuals.
Subsequently, online shopping trends are also growing vigorously in Pakistan though the number of users is still far below the world average of 30% but people are becoming more familiar and proficient with online shopping perception. Pakistani shoppers are embracing e-commerce activities profoundly due to the proliferation of smart phones and availability of faster internet systems. It is estimated that approximately 51% of individuals, using the internet and smartphones, approach online stores, making 18 to 24% purchases online. Nowadays, several newly launched online shopping websites in Pakistan such as GetNow.pk , 24hours.pk and several others are eager to increase online shopping in Pakistan in the form of online deals and promotions that caters a wide range of products and services on discounted prices. Analysts indicate that in Pakistan, the major hindrance towards online shopping is the lack of reliable electronic payment criteria but still they predict that a compound growth of 10% in online spending trends for the next five years. Clothing, computers, electronics, gadgets, cosmetics and priming services will continue to dominate online buying in Pakistan.
Amidst, apparel, electronics, and computers are already making 40% of current online sales and it will continue without any change in near future too. Considering the prevailing major recession in the country, an increase in online shopping is a good omen for the industry. A survey has revealed that 82% of customers doing online shopping are satisfied with their buying experience. In Pakistan, online sales continue with mostly small-ticket items as big products lag far behind the evaluation. On average, it is observed that retailers who have physical and online stores both have reported 23% growth in their business. However, retailers who only have online stores have seen only 9% growth in their business. Online shoppers are now more motivated to search best shopping deals to get better prices and a lot of products promptly.
Altogether, internet shopping industry in Pakistan is blooming briskly though it is inborn to our traditional shopping habits but will seek new horizons in coming future. According to Google, figures for online shopping trends in Pakistan are encouraging. In the abreast of next five years, it is estimated that 25% of local business will adapt to internet business, forming a new abode in the internet marketplace for Pakistani trade and industry.