E-commerce has been one of the most growing sectors in Bangladesh in the last few years. Having reached $1 billion in 2017, the market has grown to $2 billion by 2020 and is expected to reach $3 billion by 2023. In 2021, there were about two and a half thousand e-commerce and about 5 lakh Facebook-based F-commerce in the country. Of these, about 1 percent are large, 4 percent are medium, and 95 percent are small online sellers and F-commerce enterprises. In business, online sellers and f-commerce have to deal with many problems, from transactions, product sourcing, marketing, and promotion. Maintaining a small range of online businesses is relatively low in capital and human resources, making it costly and difficult for these organizations to maintain. Today, we will introduce you to 5 services that will help make online sellers and f-commerce activities more effective and efficient.
1. Wholesale Cart
Product sourcing is one of the primary hurdles that online sellers and e-commerce entrepreneurs face while running a business. Apart from sourcing domestically, Online sellers usually source products from different countries, including China, India, Pakistan, Dubai, and America. However, since most online sellers start their business with a limited investment, the quantity of imported products remains relatively low. As a result, import duty gets much higher as customs, VAT, tax, LC, and other duty fees are added along with shipping charges. There are also barriers to shipment and customs clearance. To solve this problem, Wholesale Cart is working as an online global marketplace to import products from different countries in just 12-24 days, including China. Wholesale Cart has 20 million sellers with over 200 million products from Alibaba.
Moreover, The platform also has an image search feature that one can use to find their desired product with a picture. The platform offers product sourcing at a lower cost than other international logistics operators. Payments can be made quickly through the platform via any local debit or credit card, internet banking, and mobile financial services. In addition, if any damage happens to the product or is lost in the shipment, the authority also compensates the online sellers according to the easy refund and return policy. The platform also offers delivery across the country with 24/7 dedicated customer support.
2. 10 Studio
A strong social media presence and effective social media strategy are needed to increase the engagement and visibility of any product or brand to the customers. Video is the most effective tool for any product or brand. But due to limited investment, online sellers, F-commerce, and small businesses cannot allocate enough budget to maintain a strong social media presence. In this case, 10 Studio is working as a one-stop solution provider for online sellers and e-commerce. 10 Studio’s dedicated creative team provides 360-degree digital marketing and video production solutions, including script writing and voice-over. Also, entrepreneurs can avail the services of 10 Studio for any promotional video, including a product demonstration video, business profile or documentary, and motion graphics.
3. bKash Business Dashboard
Online sellers and F-commerce in Bangladesh frequently face problems regarding payment. Small online sellers and F-commerce usually do not have a website, or even if they do have a website, they fall behind in payment gateway service availability due to a lack of legal documents. So, these entrepreneurs usually use MFS like bKash, for payment. And so, for these entrepreneurs, bKash has Business Development Dashboard to make the entire payment process easy and seamless with accessible payment collection, payment history, and refund facility. Any merchant or personal retail account holder can avail of this dashboard service.
Online sellers and F-commerce entrepreneurs can open a personal retail account without paperwork. Merchant or individual retail account holders can sign up to the business dashboard, create a two-page website and send payment links to customers using Messenger, WhatsApp, SMS, email, or any other messaging platform. The customer can complete the instant payment from his bKash wallet on any device by clicking on the payment link. There is also a full or partial refund facility for product returns on the bKash Business Dashboard.
Websites are essential for any F-commerce or online seller to reach more customers with their own business and increase brand recognition among customers. But building any e-commerce site is quite expensive, which often is not possible for a small entrepreneur. Although one can easily make eCommerce sites with platforms like Shopify, Wix, Zyro, etc., the subscriptions of these platforms are also relatively high. In addition, being an international service, these platforms can often lead to difficulties in getting the desired solution. Soppiya has overcome such problems. Using this fully native service, now F-commerce or Online Sellers can quickly build a customized website by choosing the theme, widget, and plugin of their choice.
Entrepreneurs will be able to run a fully operational business for free under the basic plan of the platform. An entrepreneur can list 50 products in the free basic plan and get two pictures for each product and a 3 GB bandwidth limit. Pricing for Soppiya’s Starter, Advance, and Pro packages for additional features is also quite reasonable. Besides, being a local organization, it can conveniently solve any problem.
5. Quick Book
Quick Books software is handy for online sellers, f-commerce, or small businesses to keep financial records and make accurate calculations. Using this software, users can input and track all types of cash transactions. Anyone can also store receipt photos for each transaction in Quick Books. You can easily view your business’s income and expenditure accounts from the QuickBooks dashboard. There is also the opportunity to track real-time inventory and order tracking from the inventory management options. There is also the facility to create customized invoices from Quick Books and send due payment reminders to the customer. The Quick Books mobile app lets you see real-time updates from anywhere. Quick Books also provides insights and reports based on your sales, which will help you make different business decisions.