Daraz Bangladesh Limited is changing the online shopping experiences : the successful launch of fatafati friday

Abstract

At the 21st Century, with the help of technology, people are getting all the latest services. In this paper, I have tried to put my overview of Bangladeshi e-commerce industry, Daraz Bangladesh Limited and its strategies, model, assessment with the current market players and its vision to provide the most expanded online shopping marketplace for the Bangladeshi Consumer. Daraz Bangladesh Limited is a project of world‟s largest internet incubator Rocket Internet GmbH. In September, 2013, Daraz Bangladesh Limited started its operations here in this country and within a short period of time, has become a popular destination for the online shoppers. Daraz Bangladesh Limited follows the Amazon business model of buying and selling on a single platform where the sellers sell their products on Daraz website in exchange of commission percentage on each and every sale. Daraz is a B2C (business to consumers). Daraz is an online marketplace where buyers and sellers meet and exchange goods via Daraz portal. Buyers from Dhaka enjoy the facility of payment via cash on delivery while the buyers outside Dhaka throughout the country also can enjoy the home delivery service by pre-payment through mobile banking as well as cash on delivery. Daraz provides sellers the free advertisements of their merchandises through social media, newsletter and Google Search Engine Optimization (SEO). Daraz also provides offline marketing to the sellers such as print media, billboards and etc. which is currently free of cost. Through Daraz, sellers can sell their products very easily as Daraz takes full accountability of photo shooting the sellers‟ products, uploading and monitoring them on their website and also delivering them to the buyers. The company pays the sellers on a monthly basis i.e. the sellers give the products to Daraz on credit and receives the payment at the end of the month. Currently it runs from the funding of its parent company, Rocket Internet Gmbh. Daraz‟s revenue is increasing from its inception. Its NMV (Net Merchandising Value) is increasing rapidly and the targets are getting steep. Though Daraz is a new company, but already they have formed their own space in the market in becoming very widespread to the online consumers. So they are working uncompromisingly to market the products of its sellers and acquire new ones. Bangladesh is a exciting market for Daraz. Most of the people do not know the use internet yet. But Daraz has a clear goal to offer their customers a diversified shopping experience.