E-Commerce Prospect in Bangladesh

Abstract

E-commerce has been a magnificent global business transformation, but more is needed to know about it in the context of the fast-growing digital economy. Therefore, this study endeavors to comprehend e-commerce prospects in Bangladesh. It applied a qualitative strategy and a case study research design following the subjectivism and interpretivism philosophy to extract knowledge from social phenomena. Consequently, three company managers were interviewed using Microsoft Teams and Forms, and data were thematized and patterned manually using Microsoft Office.

Empirical findings reveal that Bangladesh has a stunning e-commerce revolution due to high internet penetration, massive digitalization, and favorable government policies. Likewise, massive smartphone users accelerate e-commerce opportunities, but cybersecurity and digital payment are concerned. Nevertheless, e-commerce prospects are brightening through rural areas' market expansion, secure digital payment, and logistics efficiency. The investigation indicates that SWOT analysis is a powerful tool for e-commerce business analysis. However, the transformative digital market should be evaluated frequently in the various stages of corporate operations.

The research suggests that companies must repeatedly assess challenges and opportunities in the dynamic e-commerce market to realize its enormous potential. The recommended implementation includes data security, secure payment methods, market expansion in rural areas, and advanced logistics.