The impact of a cashless electronic payment system on hyperinflation in Bangladesh

E-commerce has profoundly changed the corporate environment, and companies now consider the internet a vital tool. Bangladeshi e-commerce is experiencing rapid growth, leading to a significant shift in the country's retail e-dealings. Along with a questionnaire-based survey to better understand online customer attitudes and purchase experiences, this study analyzes the Bangladeshi capabilities of electronic elements, including its history and present expansion. The study highlights challenges and potential growth areas for the e-commerce industry and offers suggestions for marketing initiatives for Bangladeshi online merchants. E-commerce is predicted to have an influence on people's social and professional lives in the future, with 62% of people utilizing the internet. Global online shopping for electronic commerce is anticipated to be worth USD 6.33 trillion, or 20.1%. Bangladesh ranks 36th internationally in terms of the largest eCommerce market, with projected eCommerce sales of USD 7,896 million by 2023. By 2028, earnings are estimated to exhibit an average yearly increase worth 22.3%, giving rise to an anticipated market value worth $17,647.3 million. With predicted 6.1% growth, the Bangladeshi eCommerce industry helped contribute to the 8.7% worldwide growth rate in 2023. The largest market in Bangladesh is for hobbies and leisure, then comes electronics, clothing, food, furniture, home goods, personal care products, and DIY. Even though it is still in its early stages, e-commerce has grown in Bangladesh thanks to the launch of websites like Daraz, Akhoni, and Ajkerdeal.

E-commerce development in Bangladesh: marketing improvement based personalized recommendation service

Kundu,

Rayhan,

Faruq

et al. 2024

Research on adapting marketing techniques to different culture economics and regulatory environment to entering new international markets

Hasan,

Rayhan,

Mukta

et al. 2024

The study focuses on how products from emerging markets are sold abroad. According to case studies, companies actively seek out countries with a large Bangladeshi diaspora and hire locals who are familiar with business culture. Manufacturers' globalization is aided by this strategy since it raises their profile and fosters understanding with local buyers. The cultural literature benefits from illuminating the ways in which collectivism and the avoidance of ambiguity promote marketing strategy, trust, and networks. It proposes a modern, people-focused IM approach that is innovation-driven, shaped by customer preferences for food products, and that places an emphasis on the contributions of diaspora. Organizations’ potential use of globalization to access hitherto untapped markets is also explored in the research. Corporations' strategies and methods for penetrating these markets face both opportunities and threats as a result of globalization. The qualitative study looks at characteristics related to international market entrance and global expansion based on previous research. The results demonstrate how businesses may become more globally competitive by adapting to cultural and behavioral differences and selecting the most effective market entrance strategies. The significance of varied commodities, works, and services for international economic activity is shown in this research, which lends credence to globalization and market entrance methods.

A strategy for development and economic progress: challenges and opportunities of rural entrepreneurship

Mukta,

Rayhan,

Faruq

2024

Employing the Economic Performance Model to gauge rural places' attractiveness, this study investigates the opportunities and threats of rural entrepreneurs in underdeveloped regions. With 85.7% of its citizens residing in impoverished regions, rural areas play a crucial role in Bangladesh's economic development, according to World Bank research. While prior research has mostly concentrated on finances, innovation plays an essential role in rural growth. Using a semi-structured interview approach, we surveyed several local businesses to learn about their experiences involving entrepreneurs who own small businesses and the challenges and possibilities they encounter. We looked towards the Innovation Operations Approach and found the main opportunities and threats. To reduce unemployment and economic hardship, rural businesses must flourish in Bangladesh. To compile this data, we consulted other sources and spoke with rural business owners in Bangladesh. The study recommends policies and rules put in place by governments to support small-scale farming, highlighting its significance in rural growth. Academics in Bangladesh are particularly interested in studying the characteristics and backgrounds of founders from the country, plus the challenges and possibilities associated with the expansion of private enterprise in the country. Evaluation, summary, and recommendations for further research are included.