With its wide marketing reach due to more effective targeting, greater interaction, and higher return on investment, F-Commerce became a popular online business model among the young entrepreneurs of several countries, especially in Bangladesh. New generations of shoppers who shop online are really appreciating this form of business. The reason for this is that shopping in Facebook pages is convenient for the young generation. The F-commerce community continues to grow at an incredible rate.
Facebook commerce is popular due to its ease of use. It comes as one solution for many who are unemployed, as they can create a business on the site and earn handsome amounts of money. Customers can visit and purchase more from Facebook pages as they offer diversified products. Facebook pages offer a free way to setup an online store, and they don't have to worry about getting their products onto a website, which is very inexpensive.
According to E-Cab, in 2020, the traditional e-commerce channel handled 7,000 crore worth of business transactions and b-commerce was responsible for 1,000 crore. The emergence of f-commerce during the outbreak saved many lives. Businesses also turned to f-commerce to survive.
Indeed, the f-commerce sector is a huge potential for a developing country like Bangladesh, and it adds value to e-commerce. Nevertheless, this rising star, though, needs proper guidelines for entrepreneurs as well as consumers. Regulations should not hamper the spontaneous growth of startups.
We (Startup Grind - Chittagong Chapter) are focussing on starting small than on scaling. Therefore, we invited Ms "Esha Imtiaz", a leading F-Commerce founder, to our virtual fireside chat. She shared her story, what she achieved and where she can go... Join us on November 14th at 9.00 pm. Let's grind together.