E-commerce is future mode of business: FCCI chief
FAISALABAD: E-commerce is the future mode of business which will also provide an opportunity to SME (Small Medium Enterprises) sector to directly supply their products to the end-consumers in any part of the world, said Shabbir Hussain Chawla President Faisalabad Chamber of Commerce & Industry (FCCI).
Talking to a delegation of Alibaba.com in the meeting room of FCCI here today, he said that there is no doubt that Alibaba is the pioneer in selling and purchase of products through online. He said that this mega firm had started its journey as a small enterprise that made tremendous progress and currently it is handling business of Billions of dollars in 190 countries across the globe. “Pakistan should also enter into this market in collaboration with Alibaba to get maximum dividends from its portal in addition to launching its own company”. He suggested that Alibaba.com should establish their warehouse in different countries to ensure speedy supply to the customers in addition to effective logistic services and reliable banking system to repay the amount if the delivered product is found defective or damaged during the delivery process.
Jason Jia and Patrik Wang of Alibaba.com briefed about the operational activities of the Alibaba and said that it will be a unique opportunity for the SME sector of Faisalabad to use this portal to have direct access to the buyer without establishing their own warehouses and without involving any middle man.
He told that in the fiscal year ending March 31, 2017, the Chinese e-commerce corporation recorded revenue of 119.8 billion yuan in Chinese online sales. “This translates to approximately 17.4 billion U.S. dollars”, he said and added that as of 2015, China is catching up with the United States in the battle for e-commerce supremacy.
He said that the Asian country has generated almost 250 billion U.S. dollars from online sales and is set to dethrone the United States as the largest market in the world in the following years. He said that some of the factors contributing to this growth are increased internet penetration and ever-growing spending power of the general population. “The company’s most profitable day in 2015 was Single’s Day, a popular Chinese festival functioning like the antithesis of Valentine’s Day”, he said and added that on November 11, Chinese singles throughout the country celebrate being single and proud, especially by treating themselves with presents. He said that around this date in 2015, almost 500 million orders were placed on Alibaba’s Tmall and Taobao, amounting to over 14 billion U.S. dollars in sales.
The meeting was also attended by Senior Vice President Sheikh Farooq Yousaf, Vice President Usman Rauf, Mian Javid Iqbal, Rizwan Ashraf and Sohail Bin Rashid.
Later President Shabbir Hussain Chawla inaugurated an awareness session organized by alibaba, a local company dealing in the sale and purchase of various products on line.
He also pin pointed some description in the system of Alibaba and asked Imran Arshad Chawla Chief Executive Officer of Balibaba to redressed the same to get maximum share from the fast growing E-commerce market of Pakistan. A documentary on Balibaba was also presented to the audience.
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