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Enthusiasm over e-commerce fair

Trust key to e-commerce growth: sector leaders

Star Business Report
Marketers should focus on building trust and place robust security measures to accelerate growth of e-commerce ventures in Bangladesh, industry insiders said yesterday.
"The time has come to focus on creating a positive impression about e-commerce platforms among customers to benefit from inherent growth potential," said Mohammad Abdur Rouf, chief operating officer of Aarong, a leading fashion and
lifestyle brand in the country.
Consumer confidence on virtual stores will increase significantly if online marketers can deliver as per promises, he said at the inauguration of an e-commerce fair in Dhaka yesterday.
"We should only put up the exact items we want to sell online. It is vital to win con-sumer credibility," he said. Aarong launched its e-commerce platform during Eid-ul-Fitra couple of months ago.
Mustafa Jabbar, a former president of Bangladesh Computer Samity, the national association of ICT companies, called upon the government to make a guideline for e-commerce ventures. "It is necessary to bring online stores under a guideline that provides for planned development and considers customers' security," he said.
The size of the country's virtual marketplace has increased significantly in the last two years, said Arild Klokkerhaug, director ofEkhanei.com, a leading virtual store.
Trust and safety is the top priority for his portal, he said, adding that the popularity of virtual stores will increase significantly with declining internet costs. “I strongly believe that e-commerce will grow at a faster rate in the country."
Nasrul Hamid, state minister for power, energy and mineral resources, inaugurated the three-day fair at Begum Sofia Kamal National Public Library in Dhaka.
Computer Jagat, a leading ICT magazine in Bangladesh, is organising the exhibition to popularise online shopping and luretheyouth into settingup more e-trading companies.
"Online shopping is gaining popularity in the country, but the amount of transactions is still little," said Md Abdul Wahed Tomal, convener of the Dhaka e-Commerce Fair 2014.
The slogan of this year's fair is 'Business at your dick' and is expected to increase such trading by building awareness.
The number of e-commerce sites increased more than threefold to 350 in the past year,
he said, adding that around 2,000 companies are doing business through Facebook.
Around 35 exhibitors, including Bangladesh Bank, are showcasing their products at the fair. An awards night will also be organised where 16 people will be honoured for their contribution to the sector in 2013.
The fair will remain open from 10am and till 8pm, and visitors will not be charged for entrance to the fair or seminars.
Six seminars on e-commerce will be held at the fair - electronic banking services paved the way for e-commerce in the country; local e-commerce and upcoming Bangladesh market; the progress of mobile apps and games in Bangladesh; e-commerce beginning and continuation; ICT for youth entrepreneurship and innovation; and preparation of Bangladesh for the bright future of e-commerce-where we stand?
According to business projections, e-commerce has the potential to become one of the five leading sectors in Bangladesh in the next 10 years.
In Bangladesh, online shopping, including e-ticket sales and sales through Facebook, has yearly transactions worth around Tk 200 crore, which is growing by nearly 30 percent every month, according to industry insiders.
Ekhanei.com, a popular classifieds website, andTottho Apa are platinum sponsors for the fair. Team Engine and WebTV next are gold sponsors and Aarong is a silver sponsor. The Daily Star is the media partner for this year's fair.