E-COMMERCE IN NEPAL: CHALLENGES AND OPPORTUNITIES:

E-COMMERCE IN NEPAL: CHALLENGES AND OPPORTUNITIES:  

Understanding eCommerce business in Nepal:

Talking about eCommerce is always a vague. In this blog, I have discussed briefly on the aspect of eCommerce in Nepal. The detailed reports and blog will continue the support to this blog. Now these are the basic to understand before taking a deep look into the eCommerce business.

Background for E commerce:

The world now relies in Internet. E commerce is now major part of the Internet. Major countries and companies have started selling online. Home delivery, online payment, satisfaction guaranteed, and money back returns are provided for trusted and quality products over the Internet. Everyone relies over Internet.

E commerce in Nepal

Many companies have started the trend of eCommerce in Nepal decade ago, but the challenges are still the same. The actual sales have not been able to start due to lack of knowledge, awareness and online payment systems. Selling globally and inside the country is the same in years. Payment Gateways are being developed but they have their limitation due to legal and security issues. The lack of proper knowledge and awareness among the generation is the major hurdle in eCommerce. In past recent years due to education and reach to Internet among the many people in Nepal has brightened the future of eCommerce. The interest of students in the field of IT, the growth of IT companies has helped a lot in the awareness and interest in young generation for Internet and IT. This has directly created more opportunities for the growth of eCommerce in Nepal.

Growth of Commerce in Nepal

Before a decade eCommerce was started as sending gifts and money online and other websites promoting “Send Gifts to Nepal” which had merely a concept of eCommerce. It was target to Nepali residing in USA, UK, Australia and Europe. There was no effect of that business to support the eCommerce concept in Nepal. Gradually the business was promoted by other companies who saw there was a marginal profit. Along with the rise of IT, and business concept many online stores were launched but they didn’t have the actual process of buying and selling online. They were the virtual stores with the best example which gave a concept of selling and buying online but not paying.

Current Practice of E commerce in Nepal

Many online portals and shopping portals are launched. Leaving the measurement of success behind, they are now on the top list. Peeping into the future of eCommerce, launch of few large online shopping portals was thought as milestone, everyone thought there will be a turnaround in the eCommerce industry in Nepal. Now having dozens of virtual Nepali stores in the web, they still have the same problem of payment and a belief of people, they still have a level of trust to build among the visitors.

Challenges of Ecommerce in Nepal

Talking about the challenges of eCommerce in Nepal is majorly education. Let me discuss a few here

• Education: I believe, major challenge is education, since eCommerce is a computer+internet business. Education awareness to this is most. Anyone who can use computer and internet well can be involved in. But as we know the major of the population are uneducated in this term.
• Payment Gateway: We today cannot use our bank/ card for paying online. There are rarely limited system that we can pay online. We cannot dream of paying to international shopping site and service. Dont know how long but we need to wait a long for this.
• Reliability: Not only about shopping, paying or buying any service over the internet is not reliable. We still think its a fake business. Even the providers are not able to make the users understand that its reliable.
• Competitors : Due to limited business providing eCommerce, there is no fair competition among. The price is very high to shop online. I believe this to be a challenge. More competition in business will make eCommerce business more transparent and trustworthy.
• Delivery & Returns: If you happen to purchase any products online, its very hard to get delivered where you want. You may be asked to collect on the street. To return the purchase you will get your sweat on. 

Future of eCommerce in Nepal

It’s a practice which no one can escape and avoid. It will be either today or tomorrow we must adapt to it. Both the development of payment system, legalizing and securing the payments, creating reliability from the portals is a major issue. With the growing generation every business will have to adapt and think about their online existence in future depending on the nature of business. It will not be too long; there will be a boom in the trend of eCommerce business soon in Nepal.

Recommendation for eCommerce business in Nepal

We must create history not become a history. We must always be active on the development, process and the business policy and strategy on eCommerce business in Nepal. We offer different online payment system verification. You must be guided with the start-to-end process for making your business online. If you think, it’s time to go online, sell online, Payments should be easy. Every individual’s trust must be built by business owners. Time has come to take your business online, start your online shop today!!! 

Also, I recommend that some big business house , big names should come in eCommerce sector to make people believe in eCommerce.

Conclusion

Being a small market, small buyer group and the generation has been a major factor both as a challenge and opportunity of eCommerce business in Nepal. The future of e-commerce business lies in the hands of players who are currently in the market.