Lahore, Pakistan - November 8, 2024 - Pakistan's e-commerce market is experiencing significant growth, positioning itself as a promising market in the region. According to recent data, Pakistan is the 53rd largest e-commerce market globally, with a projected revenue of US$52.2 billion by 2024.

Key Takeaways:

• Strong Growth Trajectory: The Pakistani e-commerce market is expected to witness a compound annual growth rate (CAGR) of 14.3% from 2024 to 2028, resulting in a projected market volume of US$54.9 billion by 2028.
• Global Impact: With an expected increase of 15% in 2024, Pakistan contributed to the worldwide growth rate of 10.19%.
• Dominant Categories: Electronics leads the market, accounting for 23.1% of the revenue, followed by Hobby & Leisure (22.0%), Fashion (18.3%), Furniture & Homeware (11.8%), Grocery (8.6%), and Care Products (8.5%).

Factors Driving Growth:

• Increasing Internet Penetration: A rising number of internet users are fueling the demand for online shopping.
• Smartphone Adoption: The widespread use of smartphones has made it easier for consumers to access e-commerce platforms.
• Government Support: The government's initiatives to promote e-commerce have played a crucial role in the industry's growth.
• Emerging Payment Options: The availability of digital payment methods has simplified online transactions.

Challenges and Opportunities:

While the e-commerce industry in Pakistan is thriving, it still faces challenges such as limited logistics infrastructure, trust issues, and a lack of awareness in certain regions. However, these challenges also present significant opportunities for innovation and growth.

Ecomnews.pk will continue to monitor the evolution of Pakistan's e-commerce landscape and provide insights into the latest trends and developments.