Throughout history, we have come a long way from the Barter system to buying and selling goods through money, Being physically present during the transaction is made so that we could build trust with each other. However, with the introduction of the Internet and E-commerce, things are changing rapidly as more and more people had access to the internet.
The growing number of internet users in Nepal has created a large market for E-commerce. There are many E-commerce startups coming forward in Nepal. Meanwhile, the big names are Daraz, Sasto deals, E-sewapasal, etc. As E-commerce in Nepal growing rapidly, there is a notorious impact on Physical outlets or traditional brick wall stores. And COVID 19 Pandemic seems to given the final blow to the physical stores so far.
Internet In Nepal
Internet was firstly introduced in Nepal in the year 1993 in the venture of Royal Nepal academy of science and technology (RONAST)and a private company Mercantile office System (MOS). However, only 9% of the population used the internet until 2011.
The use of the internet in Nepal has been grown ever since and in 2017 around 63% of the population used the internet which is likely to be increased as people are starting to take the internet as the basic service of their life.
Initial Days Of E-Commerce In Nepal
As the use of the internet is rapidly increasing in Nepal this has opened up a platform for online business. Moreover, Munchahouse.com is the first online shopping site in the history of Nepal after which many followed its path. Currently, there are many online businesses in Nepal. for Example; Sasto Deal, Daraz, Meroshooping .com, etc.
Though many of the online businesses were popping up in Nepal. Their growth were slow and steady as many of the Nepalese people were unable to trust the online business as they preferred to go visit the physical outlet rather than ordering the same from online. The reason behind the slow and steady growth of E-commerce in Nepal could be a lack of trust by the consumer as well as by the initial service provided by the existing E-commerce businesses.
For Example, I bought a shirt for the first time through E-commerce which came out to be a damaged piece but when I called them and said what happened they didn’t even consider replacing it. This incident was a few years back however things have been changing slowly as more and more people have been trusting the E-commerce, as well as an E-commerce business. Moreover, they are upgrading their services and being linear to consumer satisfaction.
As the world has been suffering from the Pandemic COVID 19 for more than 6 months. The world economy is on the verge of collapsing. Every business, Sector has been hit hard, people are afraid to go out of their houses. The governments are imposing the lockdowns restricting the public gathering, and closing up the places like Theaters, restaurants for the possibility of public gatherings. So in this scenario, we must say that the online shopping trend is on its rise in Nepal.
In the current scenario, only the viable option seems to be an online business. You wanna have some food you can order it and it gets delivered to your doorsteps. Probably, you need grocery or skincare products or even medicine, there is a site to take care of your wants. So in times like these, we have to say online businesses are making some profit however, many of them are suffering too.
On the other side, those businesses that had only their physical outlet available are also going online to survive in the current situation. So, in a sense, the current pandemic is killing the physical or Brick store and Boosting E-commerce in Nepal.
E-Commerce Future In Nepal
We have been dealing with the Pandemic Since the Begining of the year 2020 and still there seems no hope that it will end any time soon. Though the scientist from various countries have been working to make a vaccine and various vaccine have been running their third phase of the test which means they have been testing the vaccine on human.
Maybe these are the good sign but one thing is clear that after this pandemic e-commerce in Nepal will create more opportunities. Nevertheless, the complete dependency on e-commerce was the foreseeable future-looking at developed countries throughout the world. The Pandemic has made that future come sooner hence E-commerce Seems to be the New Normal not only in Nepal but throughout the world as well.