E-commerce market projected to generate $7.7bn revenue in 2022
LAHORE: Pakistan’s e-commerce market is projected to generate US$7.666 billion revenue in 2022. As per the data released by Statista, a German company specialising in market and consumer data, the e-commerce market in Pakistan is growing; revenue is expected to show an annual growth rate of 6.09 percent between 2022 and 2025, resulting in a projected market volume of US$9.1 billion by 2025.
EcommerceDB, a subsidiary company of Statista, said that Pakistan was the 37th largest market for e-ecommerce with revenue of US$6 billion in 2021, placing it ahead of Iran. “With an increase of 45 percent, the Pakistani e-commerce market contributed to the worldwide growth rate of 29 percent in 2021,” it added.
Designer clothes shop topped the online store ranking for Pakistan in 2021. Data released by EcommerceDB, Limelight topped the list with a net sale of US$50 million, followed by Gul Ahmed Shop with a net sale of US$ 48 million. Khaadi stood at third place with a net sale of US$29 million, followed by Sana Safinaz and Alkaram Studio, with net sales of US$23 million and US$22 million, respectively.
The information technology experts believe that there is a huge potential for the e-commerce to grow in Pakistan. Pakistan is the fifth most populous country in the world, with the percentage of youth standing at 64 percent. Moreover, the internet has penetrated deeply into the heart of Pakistan.
As of January 2021, there were over 61 million internet users in Pakistan, an increase of 11 million users from the previous year. “These statistics clearly prove that Pakistan is a gold mine that can provide a great source of income for e-commerce entrepreneurs,” they added.
Copyright Business Recorder, 2022