E-commerce: Growing Apace

E-commerce: growing apace

Digital retailers seem to be having a superb time amidst the pandemic. As per the latest e-commerce sector-related payments data from the State Bank of Pakistan (SBP) that is available for the Jul-Sep quarter of FY22, the non-cash/digitally-paid e-commerce transactions (which are reported by locally-registered e-commerce merchants having local accounts with Pakistani banks) grew by 226 percent year-on-year in volume to 12.7 million and 88 percent year-on-year in value to Rs22.4 billion.

It’s been an impressive run for non-cash e-commerce transactions over the past two years. This suggests that cash-based e-commerce transactions (which dominate the sector, by the way) may also be growing at a brisk pace. As per the SBP data, the FY21 annual growth in digitally-paid e-commerce transaction volumes went up by 115 percent (thus reaching 22 million transactions), and the yearly growth in transaction value was 74 percent (to click almost Rs61 billion). It was the best growth year since 2017-18.

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