Why is Facebook so important for eCommerce in Bangladesh?
In last 5 years, eCommerce grows rapidly in Bangladesh. When it has more than 200% growth rate in 2016 and 2017 for few online shops. There were two major factors behind this boost in the eCommerce industry. These two key factors are-
A huge number of new internet users come overnight after launching 3G mobile internet. Even though, Mobile internet still not cheap in Bangladesh. Recently all operators started 4G Internet which will generate more internet users with faster browsing experience.
In last two years, Smartphone users increased several times and more than 70% of the Smartphone users use internet on their phone. If we see some statistics, almost 80% of the eCommerce visitors are coming from Mobile devices.
Beside that broadband internet has spread almost every home in last 4 years in Major cities in Bangladesh. Now broadband is becoming available in Upozilla even some villages. With unlimited internet package and more stable connectivity, broadband internet become the first choice of all internet users.
As we know the Internet is the heart of eCommerce business and it depends on smooth and affordable internet connectivity. Whatever the growth is now it will be even more in coming days when the internet will be more affordable and it will reach rural level.
Use of Facebook:
You will find many users who know only facebook in the name of internet. Lots of Facebook users use only facebook on their phone and they buy mobile data only to use Facebook. People in Bangladesh use facebook for connecting with friends, making new friends, sharing photos and have fun online.
When millions of Bangladeshi users start using Facebook it becomes a part of their daily life. All smalls and medium even big eCommerce companies start promoting their products on Facebook and the found this platform is the best place to promote and sell their products online. Some of the sellers start selling only on Facebook and some of them they don’t even have a website.
It creates a new level of business on Facebook and thousands of new entrepreneurs come forward to take the full benefits of the Facebook platform. This sector is well known as F-Commerce, which is very popular in Bangladesh nowadays.
eCommerce & Facebook in Bangladesh:
In the present day, if you ask any eCommerce entrepreneur how they are marketing their products or where they are spending their marketing budget. You will get 80% of the total marketing budget is spends on Facebook only in Bangladesh. This is because customers are familiar with facebook shopping or they are visiting any eCommerce site after knowing about the product on Facebook.
Facebook become the most popular place for both buyers and for the sellers of eCommerce in Bangladesh. At present situation, you can’t imagine an eCommerce company without a Facebook page or Group.
Good thing is, You don’t have to spend for every product you sell or get sale lead from Facebook. Facebook is still the good place to get organic visitors if you have a robust business model. You can post product images, videos or other information with the buyers.
At the end of 2017, Facebook changes their algorithm to reduce the organic reach for lots of eCommerce pages all over the world. It increases the cost of customer acquisition and selling product through Facebook now. If you have some unique ideas to create better content, you can still get millions of organic views and sales from Facebook but that’s not much easy as it was early days. We will talk about how you can get more organic reach on Facebook for your eCommerce site in another topic later.
After all, Facebook is still the paradise and cheaper platform for all eCommerce sites. Facebook helps lots of entrepreneurs to start their online business and it will remain number one for next few years that we can say.
If you have more questions or if you want to add some more information on this article, please comment below. We will definitely look into that. Till then take care!