A Review on E-Commerce System in Bangladesh: An Empirical Study

E-commerce is one of the most prominent service industries globally. As the world moves into software services and subscription-centric economies, e-commerce will be at the forefront of growth in emerging markets and one of such growth markets for e-commerce platforms in Bangladesh. The Bangladeshi e-commerce marketplace, while still relatively small, is seeing rapid growth and adoption thanks to the development of internet usage, smartphone penetration, and mobile payment platforms within the country. Another catalyst for the rise of e-commerce in Bangladesh is the rapid ascension of companies like Daraz and Evaly. These local e-commerce platforms have succeeded in disrupting the e-commerce market in Bangladesh by catering towards the local market and innovative business models for e-commerce in emerging markets. An interesting case study is how these company's innovative business practices, services portfolio, and marketing strategies have captured an emerging market like Bangladesh. This paper aims to contextualize global e-commerce, focusing on the Bangladeshi e-commerce market, platforms, catalysts for growth, and challenges. The research tries to look at existing business models for e-commerce platforms and identify improvements to create an e-commerce business model adaptable to emerging markets. In addition, the paper tries to outline the growing importance of subscription models for e-commerce platforms along with critical industry trends such as security, privacy, and the importance of artificial intelligence²and data analytics. The paper also showcases key business strategies for e-commerce platforms in emerging markets like Bangladesh while highlighting existing regulation challenges.