E-commerce Purchases Using Cards Reached Over BDT 900cr in March

E-commerce Purchases Using Cards Reached Over BDT 900cr in March

According to the Bangladesh Bank data, cardholders spent BDT 908 crore on e-commerce items and services in March, rising around 18% from the previous month and 6.31% from the prior year.

Sales primarily drove the growth in March before Ramadan, especially groceries. Daraz, one of the most popular e-commerce platforms in Bangladesh, recorded sales growth of over 40% that month. Tajdin Hassan, chief marketing officer of Daraz, said, “we witnessed growth in our fashion and grocery sales in March.” Syed Mohammad Kamal, country director of Mastercard, said, “since the Covid-19 situation improved in March, customers began to spend more.” 

E-commerce purchases reached the highest level in June previous year, worth BDT 1,277 core. According to Bangladesh Bank data, e-commerce platforms like Evaly, E-orange, Qcoom, Dhamaka, and 25 others in Bangladesh received BDT 6,050 core of payment between March and June in the previous year via several payments gateways and banks.

Although e-commerce transactions via cards decreased by BDT 800 crore from July to October 2021, customers lost faith in e-commerce platforms. Despite making payments in advance, many customers didn’t receive products from the controversial e-commerce site Evaly. 

Over the last decade, the domestic e-commerce sector has grown exponentially, and experts believe that the growth has increased after the Covid-19 situation.

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