Although it is late in Bangladesh, e-commerce has started, but today e-commerce has triumphed all over the world. E-commerce business has been launched in full swing in different countries of the world. Last year, the Hamburg-based business intelligence organization YStats.com published a report entitled “The World’s Leading E-Commerce Companies 2014”. In this report, they publish a list of the ten most profitable e-commerce websites in the world. For the readers, a brief introduction of top e-commerce companies is given here:
The name of Amazon.com is the first name of a reputed e-commerce company. In 1994, Jeff Bezos started the US-based company. Last year, on Cyber Monday, Amazon sold 84 products per second online. Amazon has introduced smart robot systems in their warehouses to deliver products quickly to consumers. In 2012, Amazon bought the robots for 775 million and launched them on a trial basis at their Fulfillment Center in 2013. At Christmas last year, Amazon used a total of 15,000 robots to move goods quickly to their warehouses.
Despite being such a large company, Amazon did not see a profit for a long time, which made investors very dissatisfied. The company did not make a good profit in the third quarter of last year but did good business in the fourth quarter. The company had a net profit of 214 million. Experts hope that the company will do good business this year.
JD.com’s full name is Jing Dong Mall. This is a Chinese e-commerce website. They mainly sell consumer electronics. Liu is the founder of the company in Qiangdong. He is better known as Richard Liu. In 1998, he founded JD.com. However, online sales began in 2004. JDcom had a 54.3% share of the Chinese market in the second quarter of last year. The company has the Fulfillment Center infrastructure, the largest in China, to deliver products quickly to customers. By the middle of last year, the company had 97 warehouses with a total area of 1.8 million square meters. There are also 1808 delivery stations and 715 pick-up stations. JD.com has a strong delivery network across China. The company has more than 60,000 employees.
Wal-Mart Stores Inc.
We have all heard the name of Wal-Mart Stores Inc. in Bangladesh. It is a multinational retail corporation. This company is one of the main buyers of our readymade garments. Sam Walton founded it in 1962. Aalmart US, Walmart International and Sam’s Club are divided into three businesses. The company has more than 11,000 retail outlets in 27 countries around the world. Although it is a retail outlet, Wal-Mart also has an e-commerce business. During the 2013 big shopping season, 90.3 million people visited Amazon.com’s website and 250 million people visited Wal-Mart’s website. Walmart also does very good business online this Christmas.
Another well-known American e-commerce company, eBay Inc., was founded in 1994. This is a C2C and B2C website. In 2002, ePay bought PayPal, an online payment service provider. Compared to other companies, the company did not make that much profit in the 2014 Christmas shopping season. Earlier this year, eBay published a report for the fourth quarter of 2014 stating that the company had earned 4.92 billion. This is 12% more than in the fourth quarter of 2013, but very little compared to last year’s Christmas shopping season earnings. The report added that the company will earn 4.35-4.45 billion in the first quarter of 2015, which has disappointed market experts. E-bay is now desperately trying to survive in the highly competitive online market. For this reason, they announced layoffs of 2400 workers.
Otto Group is a German company. Its main business is in Germany and France, but it has businesses in 20 countries around the world. The company is the world’s largest mail order company and one of the largest e-commerce sites in Europe. It was established in 1950 and since 1995 they have started an e-commerce business. Compared to 2013, online sales in Germany increased by 54.5% last year. According to the German e-commerce trade association BEVH, online sales from mid-October to December 24 were worth 11.6 billion. Despite being in a good position in e-commerce, Otto Group is now facing competition. In 2013, Amazon.com earned 10.5 billion and Auto Group came in second with 9 billion.
Alibaba Group Holding Ltd.:
We all know about Alibaba Group Holding Limited, the most popular website in China. Alibaba’s journey began in 1999 with the establishment of a website called Jack Ma Alibaba.com. Last year, the New York Stock Exchange released Alibaba’s initial public offering, or IPO, from which they raised 25 billion in new history. Alibaba’s business volume outweighs the combined e-commerce business of Amazon and eBay. The company’s revenue rose 40% to 4.22 billion in the December quarter of last year. By September 2014, it had risen to 334 million. In November of that year, on “Singles Day”, the company earned more than 9 billion by selling products online in a single day.
Alibaba Group Holding Ltd.:
We all know about Alibaba Group Holding Limited, the most popular website in China. In 1999, Jack Ma launched an Actinova NV called Alibaba.com. (Cnova N.V.)
Popular French e-commerce website CDScount and Synova Brazil jointly founded Synova NV. The company has businesses in France, Brazil, Colombia, Ecuador, Thailand, Vietnam, Ivory Coast, Senegal, Cameroon and Belgium. According to the latest data, the company has 1 crore 29 lakh active users. The company sells more than 12 million products. In 2013, the company received 2.36 million orders and last year, 29 million orders were processed in 9 months. Sinova is already number one in France and Brazil and its market is growing day by day. In 2013, Synova NV’s website received 6.8 billion page views and in the first nine months of 2014 it received 5.3 billion. The average number of unique monthly visitors to the website was 39.1 million in 2013 and increased to 41.9 million in the first six months of 2014.
Tesco is a UK-based multinational retail company founded in 1919 by Jack Cohen. It currently has businesses in 12 countries around the world and has more than 3,300 outlets in the United Kingdom. In January of this year, the company closed 43 outlets in the UK and dropped plans to open new ones. CEO Dave Lewis has taken various plans to make the company profitable.
Rakuten is the largest e-commerce website in Japan. The company did well in the fourth quarter of last year. The company earned 33.28 billion yen and a profit of 106 billion yen throughout the year. Most of Rakuten’s business is Japan-centric, but the country’s low birth rate has led to a decline in the number of working people, which in turn has led to a decline in online purchases. To get rid of this problem, Rakuten has recently bought various companies to expand their business in different countries of the world. In October last year, Rakuten bought Ibets, an American e-commerce website, for 1 billion.
Best Buy Co.
Best Buy is basically a retail outlet that sells only electronics consumer goods – mobile phones, smart phones, laptops, etc. The company earned. 11.37 billion in last year’s Christmas shopping season. Mobile phones (iPhone 7) and big screen TVs are the best sellers. But experts say more is needed to increase sales and keep the company profitable. But Best Buy stores are a strong aspect of this organization. Any buyer can buy products online from Best Buy online and pick them up later from their nearest Best Buy outlet.
Problems and Possibilities of e-commerce in Bangladesh
The popularity of online eCommerce business and shopping is growing worldwide due to the evolving globalization process. The fun of buying products with just a few clicks sitting at home is different. Just as human needs have changed over time, so have market needs. At present, people are buying products from the online market without going directly to the market. Although purchasing products online from Bangladesh is not yet fully operational, it is expected that it will not take long for it to become fully operational. There are several top eCommerce businesses in Bangladesh that have launched this service and reliable and trustworthy organizations are far below the demand.
There are more young entrepreneurs in the online eCommerce business. Young entrepreneurs are more likely to invest in this business because it has less investment and is more likely to make a profit in less time. On the other hand, creating an e-commerce website does not cost much. Because now it is possible to create an e-commerce website at a much lower cost. There are many companies in Bangladesh that create quality eCommerce websites at a very low cost. So many people are now preparing for this business due to low cost and time.
The future of e-commerce business is very bright. Because in order to keep pace with the world, we must be at the door of it at some point. If this is going to happen in the future, then why delay in starting ecommerce business in Bangladesh. If you want to make an organization stand in a good place, it is better to prepare it in advance. All products of the world including Bangladesh you can now purchase online. However, considering all these, it can be said that its future is bright.
Not all e-commerce sites in the country today are trustworthy. Some organizations do not ensure the right product, delivery at the right time, the right price; As a result, buyers are deceived and embarrassed. For this, it is necessary to formulate a policy for e-commerce business and implement the regulations in its light. This will give buyers confidence in online shopping. On the other hand, there are problems with the payment system. The lion’s share of e-commerce transactions in Bangladesh is still in the cash-on-delivery process. Card transactions are still very low. Because Bangladesh Bank could not fully turn on the payment switch. There are further allegations that payment gateway service providers charge higher rates. The sooner these issues are resolved, the more we can enjoy the full benefits of e-commerce.