Ahead of Eid-ul Fitr, the amount of money transferred electronically from traditional banks to e-commerce platforms has grown by over 26 per cent annually as more and more individuals shop online to avoid the inconveniences of traffic and cash transactions.
According to the E-commerce Association of Bangladesh (E-Cab), during this year’s peak season for Eid-ul Fitr, which was Taka 13.5 billion from 15th March to 10th April last year, electronic transactions through banks reached Taka 17 billion.
Due to the nationwide heat wave, consumers are more interested in purchasing air conditioners and refrigerators this year, the official said.
Asikul Alam Khan, the CEO of e-commerce company Priyoshop, noted that Ramadan and Eid are two significant national holidays that promote interpersonal relationships.
The volume of e-commerce businesses increased by almost 20 per cent annually. The online buyer used mobile financial service (MFS) providers to transact approximately Taka 28 billion.
The survey found that during the Eid-ul Fitr shopping season, e-commerce companies sent over 25 million pieces, up from 20 million units the previous year.
In the last two years, e-commerce has become a new avenue for enterprises in Bangladesh since the worldwide pandemic has led to a surge in e-commerce both domestically and internationally.
Approximately 2,800 online retailers are already members of the trade association in Bangladesh, and this year’s Eid was supported by 200,000 platforms via Facebook.
