The country’s e-commerce sector witnessed a rough ride in 2021 as the sector had boomed in the first half of the year before the business suffered a serious setback due to scams by a number of e-commerce companies, shattering the public trust in the firms.
The scam-hit entities’ failure to repay clients’ money and operations closure prompted the government interventions to streamline the sector.
Against the backdrop, the e-commerce business contracted in the second half of the year 2021 after witnessing a manifold growth since the Covid outbreak in the country in March 2020.
E-commerce transactions through the formal banking channel dropped sharply in the second half of the year due the customers’ trust deficit.
E-Commerce Association of Bangladesh vice-president Mohammad Sahab Uddin told New Age, ‘The 2020 growth momentum of the sector continued in 2021 but the sector has suffered…