ECommerce In Nepal
Nepal has an internet users base of about 16.67 million as of November 2018, about 63% of the population.[1] Despite being the one of the poorest country in world[2] , the penetration of e-commerce is high compared to other similar market, and is growing at an unprecedented rate, adding around half million new entrants every month. The industry consensus is that growth is at an inflection point.
In Nepal, cash on delivery is the most preferred payment method, accumulating 90% of the e-retail activities.[3] Demand for international consumer products (including long-tail items) is growing much faster than in-country supply from authorised distributors and e-commerce offerings.
As of 2017, the largest e-commerce companies in Nepal are Daraz, Munhca, SastoDeal, HamroBazar and SmartDoko[4].[5]
Market size and growth[edit]
Nepal's e-commerce market was worth about $1 Million in 2011, it went up to $25 million in 2018.[6] About 3% of Nepal's e-commerce market is travel related. According to Daraz Excutive for Nepal, there was 300% annual gorwth [7] in thier platform. Electronics and Apparel are the biggest categories in terms of sales.
According to a study conducted by the Internet and Mobile Association of Nepal, the e-commerce sector is estimated to reach Rs. 50 Million by 2020.
A new sector in e-commerce is online medicine, selling complementary and alternative medicine or prescription medicine online. There are no dedicated online pharmacy laws in Nepal and it is permissible to sell prescription medicine online with a legitimate license.
Online sales of luxury products like jewellery also increased over the years. Most of the retail brands have also started entering into the market and they expect at least 20% sales through online in next 2–3 years.
Funding[edit]
Examples of venture capital firms having invested in e-commerce companies in Nepal are as follows: Alibaba Group took over Daraz in 2018.[8]
Esewa In partneship with Bhatbhateni launched thier own eCommerce paltform.[9]
Niche retailers[edit]
The spread of e-commerce has led to the rise of several niche players who largely specialize their products around a specific theme. As many as 300 websites are registered till date for eCommerce.
Online apparel is one of the more popular verticals, which along with computers and consumer electronics make up 42% of the total retail e-commerce sales. Niche online merchandising brands like ThreadPaints, Clothes Nepal, Baucha Maicha have already sustained them self as major player in the market.
See also[edit]
References[edit]
- ↑ "Internet Users In Nepal Increases Rapidly, Penetration Reaches 63 Percent". nepal_telcom. Retrieved 9 December 2018.
- ↑ "IWorld's Poorest Countries". 7 December 2018. Retrieved 7 December 2018.
- ↑ "Online Payment Gateway in Nepal". Retrieved 7 December 2018.
- ↑ Online Shopping in Nepal.
- ↑ "Top 5 Online Shopping Sites In Nepal". Retrieved 7 December 2018.
- ↑ "The e-commerce market in Nepal is worth $25 million: Daraz Nepal". ekantipur. Retrieved 9 December 2018.
- ↑ "300% growth of user achieved by Daraz". ekantipur. Retrieved 9 December 2018.
- ↑ "Alibaba acquires Daraz to expand its ecommerce platform in South Asia; Nepalese looking forward to a new online experience". Share Sansar. 7 Dec 2018.
- ↑ "Esewa Steps Into Ecommerce Business With EsewaPasal". KTM2DAY. 7 Dec 2018.
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