Extreme Commerce, Daraz sign deal

KARACHI: Extreme Commerce, Pakistan’s first EdTech company, and Daraz signed a memorandum of understanding to improve eCommerce and digital trade literacy in the country, a statement said on Tuesday.

EdTech, specialising in eCommerce and digital trade education and practices would train Pakistani youth to sell on Daraz platform, it added.

Although the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR) are working to introduce a platform that will facilitate Pakistani traders to export their products seamlessly on global platforms such as Amazon, Alibaba, and eBay, the local traders are looking for an opportunity to explore the global markets enthusiastically.

As per the latest eCommerce numbers, released by the State Bank of Pakistan till the third quarter of 2020 (Q1 FY21), the eCommerce market size for the year was Rs96 billion (assuming a 60 percent COD volume), prepayment was Rs39 billion over the same period.

There are 2,164 merchants, who accept prepayment methods, which is a large jump from the previous quarter. There are 43,000 orders/day via prepayment method (in Q3 2020) on Pakistani merchants, which is up from 24,000 and 13,000 in the same quarter in 2019 and 2018.

The partnership between Extreme Commerce and Daraz will be imparting knowledge skills on how to sell on the Daraz platform more efficiently with maximum customer satisfaction and potential to grow.