Abstract
This paper aims to investigate the expectation from online retailers in the context of Generation Y, as the target market group in Bangladesh. It also examines the similarities and dissimilarities between the global online retail market trend and the target group. Volunteer final year university students conducted face to face survey using structured questionnaires. Primary data was collected using paper-and-pencil method where interviewee completed the form in most of the cases. This research found differences between the expectations of consumers from online retailers and the online market trend in developed countries. Existing issues and directions for future online businesses have been discussed. Most of the males want to purchase ‘Clothing and footwear’ online, whereas ‘Jewelleries and Watches’ is the most desired online product category by females. Two third of Gen Y in Bangladesh is already shopping online with high interest in F-commerce. Online shopping abandon rate is high due to service quality issue. Lowering internet cost is driving the e-commerce growth. 450 Gen Y respondents living in the capital have been surveyed, where internet service is optimum. Larger population from different age groups with different backgrounds, living in different cities can be examined in future. Need for reliable delivery service to support e-commerce growth, cash on delivery options, addition of Skype and Viber in customer service and success stories of Facebook stores have been revealed for the consideration of the existing and future market entrants. The findings should work as a guide for the international investors and MNCs. This study is the first of its kind in the context of Bangladesh and sets a benchmark. This research opens the door for continuous evaluation of the market and to venture new business and services as per consumer expectations.
Highlights
As the online market in the developed countries have matured over the past decade, developing countries like Bangladesh is pursuing the upward trend in much faster pace (Robenhagen, Shahrukh, & Taufiq, 2014)
Recent report by GSMA Intelligence dubbed the growth of mobile access in Bangladesh as ‘well ahead of time’ (Lucini & Hatt, 2014)
Developed online markets are observing a surge in E-commerce and M-commerce facilitated by faster internet access and availability of smartphone (Einav, Levin, Popov, & Sundaresan, 2014)
Summary
As the online market in the developed countries have matured over the past decade, developing countries like Bangladesh is pursuing the upward trend in much faster pace (Robenhagen, Shahrukh, & Taufiq, 2014). 98% mobile connections were 2G and only 6% subscribers were using smartphones at the time of the this GSMA research (2014), mobile data usage was accounting for 20% of total internet usage. This scenario is a clear indication of the consumer intention to use internet services, much faster 3G internet access, introduced in late 2013, is expected to take over 2G internet usage by 2020 (Lucini & Hatt, 2014). The rapidly developing online market in Bangladesh is poised to catch-up with developed online markets in the coming years
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