E-commerce sector can surge above $6b

Pakistan's e-commerce sector is rapidly ascending on the global stage. According to the newly released 2024 Pakistan E-commerce Industry Report, the country's e-commerce revenue is expected to reach $5 billion in 2024, and the industry will achieve a compound annual growth rate of 5.92% between 2024 and 2029 as well as is expected to reach $6.7 billion in 2029.

"Pakistan's e-commerce sector contains golden opportunities, but the current B2B platform is not well developed, especially in remote areas, where many local merchants need to purchase goods from wholesalers. China's highly developed supply chain system can provide Pakistan with a series of practical experiences," Aurang Zeb Khan, VP of Opay Pakistan, who had successfully promoted Shoplus, a local B2B2C e-commerce solution, said.

Drawing from his experience as the former CEO of Shanghai Cheezmall, where he championed the innovative B2B2C business model, Khan has facilitated the integration of global supply chains through the new platform Shoplus, which could not only connect Chinese suppliers directly with retail outlets in Pakistan, but also extends comprehensive value-added services, including overseas warehousing, logistics and payment solutions.

"Pakistan has a population of 241 million, 64% of whom are under the age of 30, meaning the demographic dividend is a major advantage for the development of e-commerce," said Naiel Oberoi lkram, the Pakistani partner of Gobi China, a Chinese venture capital firm. "In the past five years, Pakistan's e-commerce consumption has grown from $1.7 billion to $4.7 billion, a growth rate of 176%."