Pakistan is considered to be a cash-based informal economy. This is to say that majority of transactions are conducted in cash, except for those that are very large and require a bank draft or pay order. Many studies suggest that up to 60% of economy is informal, majorly the local companies and particularly small/medium sized enterprises, are undocumented and outside the tax net. Until recently where the new government has made it indispensable and obligatory to pay taxes.
The new regime has also come up with a mobile app that facilitates general public to complain about any inconvenience they are facing. Several advancements are being made in different areas of the government sector when we talk about E-commerce. However, in the private sector many local banks provide e-banking services and many airlines now offer e-ticketing services, many apparel and accessories brands are also utilizing this mode of selling and the growth is considered to be exponential in next five years.
Modes & Platforms:
There are hardly any people without a Facebook account in nowadays, coupled with Instagram, both are quite powerful mediums of social information which almost all the companies utilize in order to reach out to their potential customers. Furthermore, there is YouTube and Twitter glorifying the product and services being provided through visual appeal and making it a trend worldwide, which not only elicits desirability of a product, but bolster the image of service provider as well.
Moreover, the companies use, or it can be said manipulate, the data of its users to show them what they like or dislike. However, this ploy may sound unscrupulous to many as people do not like their internet surfing or other information being accessed by third parties for the greater good of people. “Be wary of your internet surfing as we are all being observed”.
To understand the psychology behind the attraction over the smartphone and computers, we have to recognize that high esthetic appeal will always create a uniqueselling point for a brand, or service. Let’s talk about the apparel industry for instance. They have to manifest their clothing in such an impeccable way that it should elicit a yearning in the person who is being targeted. A brand has to communicate with its potential customer about what it is all about and how distinct it is from the rival brand.
This is done through Fashion shoots where season campaigns are implemented on mesmerizing locations coupled with the themes and narrative a brand follows, an example of it is Monark menswear who revitalized the whole industry by instigating this concept of shooting in grandiose locations along with a narrative which remarkably became the talk of the industry. Moreover, many other brands imitated this concept and eventually in recent years this practice has become a trend in the local market.
So, we can all agree that an awe-inspiring content or image we will see on internet has a high chance to stimulate our desirability to buy that product or service.
When it comes to buying, our craving for exciting new experiences is never fully satisfied. General perception now is that consumers are increasingly opting out of the traditional means and instead, being creatures of comfort, relying on digital avenues for retail therapy. This has become a global attitude where people are preferring convenience over anything that involves toil, especially the youth and adolescents who are mesmerized by this idea of online buying since, their lifestyle is wholly dependent on the smartphones.
Pragmatically people would always admire something that will add ease to their life, regardless of their age and likes and dislikes. Think about it this way, no one wants to get up, start the car, go all the way to the shopping center and make a purchase, consider this with overwhelming work and other daily errands of a day involving tediousness. The booming E-commerce is a blissful occurrence in the modern day and its amazing how rapidly things are evolving. The pundits of technology quote that this is the best time to be alive in the human history and clearly there is no skepticism in that.
Muhammad Arsalan Tahir, graduate of Pakistan Institute is an emerging fashion blogger who works with reputable menswear brands such as Monark in the field of management, fashion, visual merchandising, strategic marketing and brand communication.