F-commerce in bd is a platform that allows business owners to conduct online transactions with customers directly through the Facebook platform. By employing the “share” feature of Facebook, people can easily increase the value of the products. It’s a brand-new social shopping method. F-commerce is one of the most recent types of electronic commerce, and it has gained popularity among young people worldwide. F-commerce is a business model based on online stores, so it offers business owners an affordable platform where they can easily manage their own business. It has gained rapid popularity due to its extensive marketing reach, better targeting, increased involvement, and higher profit. F-commerce in bd has a better chance of succeeding because it is one of the top ten Facebook-using countries.
Even a few years ago, f-commerce in bd was not so popular among young businessmen. However, business owners and entrepreneurs have recently come to appreciate the magical power of marketing via social media sites like Facebook. Why F-commerce is booming in Bangladesh? Nowadays, it’s difficult to find somebody without a social media account. Social media so dominate our lives that we log into our profiles to check the facts even when we receive news. There are 8.4 million Facebook users in the nation, out of the 36 million people who use the internet. According to experts, if there is a decent internet connection and an accessible online payment system, the e-commerce market is expected to reach $3 billion by 2023. As a result, F-commerce is becoming increasingly popular in Bangladesh.
The Rise of F-commerce in Bangladesh
The factors listed below explain why F-Commerce is becoming more popular in Bangladesh:
1. Broad marketing reach on a single platform – Facebook is accessible to 93% of users.
2. Simple to use – Facebook gained popularity with its user-friendly design.
3. Lower operating costs – Virtually there is no need for promotion costs, particularly for startups.
4. Effective platforms for small business owners – It is a good platform for the owner of a small company to advertise their goods in front of a large audience.
5. Widespread internet use is driving an increase in Facebook users.
6. Women’s empowerment on Facebook – Almost all female business owners use Facebook to run their operations.
7. A devoted consumer base that buys products and recommends them to others.
8. Simple system for Facebook ads
9. Dedicated infrastructure (Facebook)
10. Starting a business doesn’t require any money, etc.
F-commerce Advantages in Bangladesh
Drive organic traffic: There is a lot of organic traffic on Facebook that everyone may use. Owners can drive sales and attract a lot of traffic to their business by using Facebook ads.
Customization of Facebook page: The Facebook program allows young people and women to personalize their storefront by uploading their photographs and videos without vast skills.
Direct interaction with sellers: It enables consumers to interact with one another directly. If customers wish to confirm something about the products or services, they can immediately contact the seller via Facebook and clear up any confusion.
Targeted ads: As a marketing tactic, anyone may design several Facebook ad campaigns that target a certain audience. It is a cost-effective way of marketing.
Analytics of audience: An on-site suite for analytic reporting will assist a startup in learning how the followers interact with the business. As well as it confirms when they interact and even where they are located.
Information availability: Facebook enables business owners to routinely update their page with relevant and quality content. The page can be used to engage the audience and to provide the most relevant information about the products and services.
Fewer clicks needed: With f-commerce, customers can easily shop from the Facebook page. Customers stay on social networking sites, and there is no need for any sophisticated websites.
Promoted posts reach more people: These posts can help a small business owner reach a huge audience and increase the number of sales leads within a short time.
Problem Facing F-commerce in Bangladesh
- Maintaining integrity is crucial because, without it, the business might swiftly end.
- Facebook’s algorithm changes frequently, which causes issues for small business owners.
- High competition among products of the same kind.
- The vast majority of business owners lack a trade license. As a result, obtaining bank lending facilities is challenging.
- Most logistics have expanded outside Dhaka, making it challenging for business owners to procure raw materials.
- Lack of proper logistic support.
- No legal framework to regulate the F-commerce site in Bangladesh.
- The government is losing a huge amount of revenue in the form of taxes.
- There is a lack of experience and proper knowledge.
- There is no regulatory body and frauds are growing at an alarming rate.
- Lack of payment option from customers end.
Bonus Tips on Effective F-commerce
Recognize consumer psychology: You must first comprehend the psychology of the buyer. It’s quite simple! Understanding the needs of your clients is essential if you hope to succeed. Ensure that your platform offers social media sharing, pinning, and retweet buttons.
Respond to everything: This is another essential point that many people overlook. You must ensure that you respond to all potential consumers’ messages, posts, and comments on your page.
Post something regularly: Facebook’s ever-changing algorithm is already in a unique state. You must post frequently if you wish to reach a large enough following.
Contest: Holding a contest is a great method to attract a sizable following.
Platforms: If you’re not a programmer, seek platforms that have all the features you’ll probably require. Choose one of the numerous free options available.
User Friendly: Difficult to use forms and confusing navigation are the two things that hurt online companies the most. Your platforms ought to be simple and intuitive to use.
Audience: Build up a sizable fan base first when it comes to your audience. These people will essentially serve as your “passing trade” (people walking or driving past the front of a shop).
Images: Your products should be shown with top-notch images and thorough descriptions.
Bottom Line
F-commerce has tremendous potential for a country like Bangladesh. Even though it offers more value to our e-commerce business, f-commerce in bd requires suitable economic definition and standards for both entrepreneurs and customers. However, legislation should not stifle the natural expansion of start-ups.
