Daraz.com: A Comprehensive Study of Nepal's Leading E-commerce Platform
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TRIBHUVAN UNIVERSITY NEPAL COMMERCE CAMPUS Minbhawan, Kathmandu PROJECT REPORT ON Daraz.com Submitted By: Roshna Khanal Submitted To: Mr. Raju Karki (In partial fulfillment of the requirements for the Course E-Commerce) Minbhawan, Kathmandu July, 2021
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Project Report on: “E-commerce in Nepal” - Daraz A report submitted for the project requirement of Module: “Ecommerce” Module Tutor : Raju Karki Module Code: ITC 311 Bachelor of Business Management Tribhuvan University (Nepal Commerce Campus) July, 2021 Submitted by :Submitted to: Roshna khanalMr. Raju Karki Lecturer, Ecommerce
Nepal Commerce Campus Minbhawan, Kathmandu Certificate of the Project This is to certify that the project work titled“A STUDY ON E-commerce services and providers in Nepal – Daraz.com”is the work carried out by Roshna khanal. In partial fulfillment of the degree of Bachelor’s of Business Management(BBM) 7th semester in E- commerce to the Nepal Commerce Campus, is a record of bonafied work carried out under my guidance and supervision in the academic year 2020. The results embodied in this project report have not been submitted to any other University or Institute for the award of any Degree or Diploma. On the basis of the declaration made by them, I recommend this project report for evaluation. ……………………….. ..………………………. Certified byHead of the Dept. Mr. Raju KarkiBBM ( NCC )
Acknowledgement This report has been generated with the main objective to fulfill the requirement of the course E-commerce. This report is based on the brief information of online shopping with the objectives and importance. The efforts put into this report is not of a single person but includes many input from other individuals .I would like to take this opportunity to thank them all. I am thankful to our teacher Mr. Raju Karki for his guidance and motivation. I thank him for providing such a golden opportunity to prepare this report. I express our sincere thanks to my friends for their time and advices to sharpen the contents of this study. I have put in My all possible strength to make this report error free and as good as it can be, however there might be some mistakes done in course we apologize for any mistakes (if found) and look for any sort of comments, criticisms which will help us generate better reports in the days to come.
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ABSTRACT This project report is based on Electronic Commerce. Electronic Commerce is process of doing business through computer networks. A person sitting on his chair in front of a computer can access all the facilities of the Internet to buy or sell the products. This report is based on the brief information on online shopping with the objectives and importance.This report, in an introductory phase ecommerce a short description on online shopping in Nepal then highlights about website; Daraz.com along with its history, services and objectives. The project work sets light on Categorization of Daraz.com, which contains of background of Daraz, short history of Daraz,.It employs for quicker customer service, delivery process, payment process, and business model it follows.Daraz.com as a popular online shopping site is also being exposed to growing competition and its likely Advantages and Disadvantage of Daraz’s existence. Thus, this report attempts to explain the major plans andstrategiesDaraz.comadoptstomaintaintheirpositioninthemarket,retaintheir customers, continuous effort for quality improvement.
List of Figure Figure 1: Business to consumers…………………………………………………….6 Figure 2: Business to business……………………………………………………….7 Figure 3: Consumer to consumer……………………………………………………7 Figure4: Consumer to business………………………………………………………7 Figure5: Categorization of product………………………………………………….9 Figure6: Website of Daraz……………………………………………………………10 Figure7: Search the product………………………………………………………….10 Figure8: Select the Product…………………………………………………………..11 Figure9: Read and check the product details……………………………………….11 Figure10: Register / verification of the customers ID/ login in…………………….12 Figure11: Add to cart…………………………………………………………………12 Figure12: Select the address………………………………………………………….13 Figure13: Confirm your order and choose for payment method………………….13 Figure14: Wait for the order to deliver……………………………………………..14 Figure15: Receiving order …………………………………………………………..14 Figure16: Unboxing. …………………………………………………………………15 Figure17: Payment method…………………………………………………………..15 Figure18: Debit/Credit Card (Visa)………………………………………………….16 Figure19: Cash On delivery………………………………………………………….16 Figure 20: Esewa………………………………………………………………………17
Table of Content Chapter 1:Introduction..........................................................................................................................1 1.1 Introduction to E-commerce............................................................................................................1 1.2 E-commerce in Nepal......................................................................................................................2 1.3 Introduction to Daraz.com.np..........................................................................................................4 1.4 Business models..............................................................................................................................5 1.41 B2C(Business to Consumers)........................................................................................6 1.42 B2B(Business to Business)............................................................................................6 1.43 C2C: Consumer to consumer)........................................................................................7 Chapter 2:Daraz......................................................................................................................................8 2.1 Objectives of Daraz:........................................................................................................................8 2.2 Categorization of products:.............................................................................................................8 2.3 Buying process..............................................................................................................................10 2.4 Payment method:...........................................................................................................................15 2.41 Popular payment method in Nepal:..............................................................................18 Chapter 3:Advantages and Drawbacks..............................................................................................20 3.1 Advantage of buying in Daraz.......................................................................................................20 3.2 Drawbacks....................................................................................................................................21 Chapter 4:Conclusion ..........................................................................................................................22 4.1 Conclusion....................................................................................................................................22 List of Reference………………………………………………………………………………25
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CHAPTER 1 Introduction 1.1Introduction to E-commerce E-commerce is commerce done through Internet technologies which means presale and post-sale activities. Varieties of businesses around the globe have introduced an electronic commerceportalastheiroperations,lookingafterthedifferentmeritsthattheonline marketplace can provide. Since the last part of the 1990s, internet business has quickly developed in the developed world. Today, a web-based business has been broadly utilized and many organizations have moved from the offline to the online world to serve their service worldwide through the internet. In this way, numerous huge organizations keep on setting up web-based business broadly. So that worldwide chain of the people get connected by using electronic links to suppliers, to strengthen online integration with distributors and business partners, to design and customize products services, and to attempt to serve customers more effectively. Simply, E-commerce defined as an Internet technology that provides the capability to buy and sell goods through online media and portal which including market creation, ordering, supply chain management, and transfers through the opening protocol. (Novak, et al., 2002) The three major consideration of variables as sources of the strategic value of ecommerce are‘‘operational support" which measures how e-commerce can reduce costs, improve customer services and distribution channels, provide an effective support role to operations, supportlinkageswithsuppliers,andincreasetheabilitytocompete."Managerial productivity" defines how e-commerce can be taken out to access information, provides a meanstousegenericmethodsindecision-making,improvescommunicationinthe organization, and improves the productivity of managers. Finally, "strategic decision aids" defines how e-commerce can support strategic decisions of managers, support cooperative partnerships in the industry, and provide information for strategic decisions. (Pearson & Grandon, 2004.). It affirmed that more than ten e-commerce benefits for both buyer and seller. Such as cost savings and speed in selling and purchasing, exposure to new customers (global reach), convenience and transparency to users, the better quality of product/service (global reach), reduce the need for office space, and fewer resources required. The author reviewed the report based on Daraz as a part of secondary sources also and has outlined as follows. The author of the thesis also reviewed how Daraz analysis the market, check the future drawbacks and solution of the problems. The author also got to know the environment or the surrounding markets that got affected by Daraz. It also helped to identify Daraz's target group of customers and also how they were able to bring in the customer in the marketplace. Many companies and organizations are competing to be the number one globally and to be in the mind of all customers. Along with this, they are trying to protect their market values and shares. Marketing means creating customer retention and loyalty. Howtheychangetheiractivityexercisesandtheirarrangingstrategybyprogressin 1
theinvestment.Thedatagatheredcollectedwascheckedduringthemeetingwiththe marketing officer. It is the use of electronic communications and digital information technology in business transactions. To make, change and rethink connections for esteem creation between or among associations and among associations and people. (Gupta, 2014.). In another words, it refers to wide range of online business activities for products and services which refers to buying and selling over the internet. The term electronic commerce or e-commerce refers to any sort of business transaction that involves the transfer of information through the internet. By definition it covers a variety of business activities which use internet as a platform for either information exchange or monetary transaction or both at time. Apart from these two categories of e-commerce sites, there are some sites which enable businesses to exchange trading goods and also service between two or more companies. All of these forms of internet based business platforms are known as e-commerce. A type of business model, or segment of a larger business model, that enables a firm or individual to conduct business over an electronic network, typically the internet. Electronic commerce operates in all four of the major market segments: business to business, business to consumer, consumer to consumer and consumer to business. It can be thought of as a more advanced form of mail-order purchasing through a catalogue. Almost any product or service can be offered via ecommerce, from books and music to financial services and plane tickets. Also sometimes written as "e-commerce" or "eCommerce". E commerce has allowed firms to establish a market presence, or to enhance an existing market position, by providing a cheaper and more efficient distribution chain for their products or services. One example of a firm that has successfully used ecommerce is Target. This mass retailer not only has physical stores, but also has an online store where the customer can buy everything from clothes to coffee makers to action figures. When you purchase a good or service online, you are participating in ecommerce. 2
1.2 E-commerce in Nepal InthecontestofNepal,thesearethepathofsuccessthroughonlineshoppingand marketing. People are using fast speed inexpensive 3G, 4G, and 5G internet technology provided by the local server. Similarly, the convenient modes of payments and user-friendly interactive shopping apps are further paving a pathway to un-precedented growth in the e- commerce sector. The growth in the information technology sectors and the increasing number of young human resources in the information technology sector directly created more opportunities for the growth of e-commerce in Nepal (Karki, 2020.). The status of e- commerce in Nepal seems promisingly good. Many users are attracted to online shopping and using online services. Many online portals and shopping portals are launched. The competition is rapidly increasing 3
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day-by-day due to an increasing number of online stores in Nepal, which will ultimately benefit the future of e-commerce in Nepal. Similarly, the Nepalese entrepreneurs have also enhanced another aspect of online shopping by increasing the trend of using social media as a shopping platform. The major online organizations which are functioning in Nepal are business-to-consumer (B2C) or consumer- to-consumer (C2C) model business (Malla, 2018.) For example, Hamrobazar.com are considered as the free online gateway that gives a free stage to associate purchasers and venders where the two are buy-ers. Likewise, NepBay began in 2006, as an online registry of items and shops just because at Kathmandu for purchase and selling of second hand and utilized things in the long run changed itself into an online organization. When NepBay presented "cash 18 on delivery" in 2013, it was the first organization to introduce this service. It has been a common platform for small and medium enterprises in Nepal to sell their goods. In July 2016, Pakistan-based online business Daraz took over Kaymu, and again the Chinese-owned internet business organization Alibaba Group procured Daraz in May 2018. Internet shopping in Nepal are done particularly on Facebook and on Instagram also (Vaidya, 2019) As the popularity of E-Commerce is Increasing globally, so is in Nepal. Today, As of 2019, there are 31 private ISP's In Nepal with nearly 16.67 million internet users nationwide. And Accordingtoexport.govroughly40%oftheseaccountsarecommercial.OnlineE- Commerce Activities is mainly concentrated on Kathmandu Valley and some major cities. However with the increase of internet penetration the number of mobile users are increasing in rural areas and so is online activities. Today there are many E-Commerce Websites that are providing e-commerce in Nepal along with delivery service. Below is the list of some of the top E-Commerce websites in Nepal. Currently, there are few eCommerce websites that are operating in Nepal (Kathmandu, to be morespecific).ThenotableonesareDaraz,HamroBazar,SastoDeal,SmartDoko, FoodMandu,Muncha,InternetPasalandMetroTarkari.Theyareprimarilyfocusedin Kathmandu valley. Many online shops are also starting to operate outside Kathmandu. Daraz has delivery networks over Butwal, Biratnagar, Pokhara, and some major cities. Also, many businesses have their own standalone eCommerce system in place like Bhatbhateni online (now esewapasal), 911foodexpress, ugcakes, etc. These are simply the additions to their existing stores and mechanism for delivery rather than a full-fledged online store. We don’t have exact data about the total Investment, transaction, and profit of those online marketplaces but can easily assume that they are struggling in many facets; delivery and refund policy being the major ones. 4
1.3Introduction to Daraz.com.np Daraz Nepal, established in 2012 has become the biggest online store in Nepal at the present time. The biggest Chinese E-commerce company Alibaba group obtained Daraz for an unnamed deal in May 2018. ( Manandhar, et al., 2017.). Daraz has become an important part of Alibaba’s global strategy to be in the global market and to target 2bn consumers. It can be considered as the win to Alibaba’s globalization strategy. (Nasir & Abdullah, 2017). As regards the opportunities in the field of the online business area, the widest area for the e-commerce business in the world is in South Asia where Daraz has dig its place in the emerging market with a fas tgrowing retailer in five countries. They are operated in Nepal, Pakistan, Sir Lanka, Bangladesh, and Myanmar. It has got 15 million customers per month all around the world in South Asia and aimed to penetrate the global market with its technology. Daraz was previously known as Kaymu and now it owned by Alibaba Group in April 2018. This is founded by Rocket internet ventures which are led by Ahmed khan as its MD in Asia and were founded in 2012. Daraz online shopping presence in Nepal since 2014, when it was introduced as kay-mu.com. In 2016, due to the digitalization of electronic commerce, they decided to merge Daraz and Kaymu under the new entity to the Daraz group of Alibaba. Alibaba group buys an E-commerce site which brings both seller and buyer together. Daraz has targeted to set online marketplace in various countries such as Paki-stan,Nigeria,Morocco,Ghana,Bangladesh, Afghanistan,andinthemiddleeast including Nepal too. ( Manandhar, et al., 2017.) In 2015, Bjarke Mikkelsen, CEO at Daraz, made the decision of the investment banking to the electronic business site, focusing on the underserved South Asian area with incredible success. “I decided to do something different,” Mikkelsen explains. "I needed to be in the correct business, at the opportune time, in the correct business sectors unexpectedly, to exploit and accomplish leading position". (Lawerence, 2020.). Daraz has got a wide range of market environments, data, and service solutions. Moreover, it has 30,000 sellers and 500 brands and serves 5 million consumers across the region and offers 2.5 million products. It consists of a diverse quantity of products for customers which are household goods, beauty, fashion, sports equipment, and grocery items. ( Manandhar, et al., 2017.). Kaymu was the first online shopping App’s which launched in Nepal in May 2014 and later changed to Daraz Nepal. Since the launch of Daraz, it becomes Nepal’s fastest growing and selling online marketplace. It has also offered cash on delivery to support buyers and sellers both. Daraz expanded the online shopping experience in Nepal to mobile platforms. As the number of people using phones areincreasingday by day sales increases. So, phone provides an good online shopping experience on a mobile platform that makes it quite helpfulforeverycustomertoexplore.Themobileapplicationin AndroidandIOS applications had made it easier and these applications have been developed for making buying and selling online faster, more easy, popular, and user-friendly. This App also has unique services to improve their different experience towards their customer. Daraz in Nepal was managed by Mr. Rajiv Amatya as overseeing chief and Mr. Laxman Basnet as a human asset administrator. Recently, Daraz Nepal has done the biggest sale by organizing 11-11 Daraz sales which was quite successful and profitable. Currently, Daraz has 5
250,000 plus products with more than 100 plus product categories, and every day 75,000 people visit its website. Every month 500 new sellers are given education through their university. It provides job opportunities to more than 5,000 jobless people by educating them in their own university. Recently it introduced an online payment system partnering with major banks of Nepal. (Malla, 2018.) Daraz Nepal has been highly successful in the field of online shopping. It highly successful to hold people’s attention and try to provide them a better quality of shopping experience. In today’s busy life no longer people reached one store to another store for buying products at a suitable price which they can afford or to get the best deal. It wastes time for people and energy loss. Therefore, e-commerce gives people an easy lifestyle. it gives an opportunity to all customers to gain knowledge in an online shopping experience which is done by just one clickinasecond.Throughonlineshopping, App’sinasecondcustomerordertheir favourite products from their favourite stores without traveling to shop destinations or without wasting time. Daraz Nepal hosts a wide assortment of consumer electronics, fashion and beauty products, alongside a rapidly growing miscellany of general merchandise. Daraz Nepal Signatures include excellent value-for-money, large assortment of original products, fast delivery and easy returns. Daraz Nepal offers not just a retail solution of optimal convenience, it is effecting disruptive change in the digitization of the region. Daraz always focuses on what customers want and what all customers will satisfy. Daraz also provides different brands and price tags to all customers, which customer can easily pick their product in terms of what brand they are looking for or prefer 3 from the online portal. For customers, they deliver their products to all customer locations within their target area and place. After connected with Alibaba group holding limited, Daraz changes their price and their priorities too. They start to take the feedback and comments from the customers which creates their social site more interactive and easier for the customers to find out the things that they want from the website by studying the comments and reviews. Daraz takes different steps on how they can improve their brands, online service, etc. A customer's purchasing conduct is affected by social, individual, and psychological factors. Buyer conduct is a piece of human conduct and by studying past purchasing conduct, advertisers can appraise how shoppers may be-have later when settling on buying choices. (Kotler & Armstrong, 2010). In addition, it aims to provides ecofriendly technology through e-commerce and boost trade and enhance internal and external trade. 1.4 Business models Daraz as works as a b2c vendor. They are not manufacturer of the product, they acquire seller who wants to get sell by their website, daraz puts other companies item in their sites and facilitates selling. daraz main aim to acquire the seller in terms of ongoing demands and trends. Daraz terms and condition need to be followed by the seller and the must have an agreement.Heredarazisthesecondpartywhereselleristhefirstparty. Afterthat, 6
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agreement seller allows showing their product on daraz websites and daraz will allow and promote the product of the seller. Seller centre here works as medium for both parties. Both daraz and seller can have access on posted item on daraz. Therefore, they both can update and add products with the limits and convenience. However, all of these work based on agreement, terms, and condition. Usually daraz give necessary information to seller by mail. Usually it takes not more than 7 days to list a product on daraz by a seller. A businessmodelisaframeworkforfindingasystematicwaytounlocklong-term value for an organization while delivering value to customers and capturing value through monetization strategies. A business model is a holistic framework to understand, design, and test your business assumptions in the marketplace Business-to-consumer (B2C) Business-to-business (B2B) Consumer-to-consumer (C2C) Consumer-to-business (C2B) 1.41 B2C(Business to Consumers) Electronic commerce are the business between the company and consumers. A business selling the goods to the public typically through a catalog utilizing shopping cart software. It helps to reduce the transaction costs and helps the consumers to get the most relevant price for the product or goods. One(Seller) to many(customer together). However B2C business models can sell other brands products as well (Example: A sports store selling Adidas and Nike shoes r)This is the most common type of eCommerce business model. Here businesses sell their products direct to the end consumers. Aliexpress, Daraz, sastodeal etc are examples of B2C eCommerce platforms. Figure 1: Business to consumers 1.42 B2B(Business to Business) It is the most common business model associated with the buying and selling product or services between or among the businesses through the internet. A website following the B2B business model sells its products to an intermediate buyer who then sells the products to the final customer. .An example of B2B web-platform would be a website selling vehicle's components that some auto manufacturer will purchase in order to produce his own product. For instance, among the most well-known B2B websites is theAlibaba B2B Marketplace. 7
Figure 2: Business to business 1.43 C2C: Consumer to consumer) It is simply to commerce between private consumers or the individual one. It is based on electronic marketplaces and online auctions. In addition to this, this is the forums where an individual can buy and sell the product by online payment systems like PayPal, eBay, Amazon are the example of these services. In the context of Nepal, Hamro Bazar is a good example. Figure 3: consumer to consumer 1.44 C2B Consumer to business) : TheC2B, or consumer-to-businessmodel, is when customers offer products or services to businesses.ExamplesofC2Bapplications include customer reviews, participation in focus groups, or sharing as an influencer (someone who has his or her own audience and the ability to influence what that audience buys or does). Figure 4: Consumer to Business 8
Chapter 2 Daraz 2.1 Objectives of Daraz: Daraz Nepal is the largest E-Commerce portal site in Nepal for online shopping. The main aim of this research is to find out the marketing strategies and sustainable strategy of Daraz Nepal. Some of the objective of Daraz.np are listed below. To achieve the goal, mission, and to satisfy the vision, there are some objectives to be fulfilled. Daraz is attempting to thrive its business by intently working with the dealer just to guarantee an extraordinary internet shopping experience for the clients. Provide quality items at the most minimal conceivable cost and conveying the items at all conceivable time so that to get the large market share of the overall industry in the online portal. Daraz determined to expand its viability and productivity by refiling the customer's shopping experiences. Provide training to the seller with the goal that they can work effectively and recruit people who can meet the mission and discover significant assets for the association. 2.2 Categorization of products: Daraz has a different quality, several models, flexibility in ordering and customer services, and all aspects that can positively differentiate a product or service. Daraz has a unique strategy that are widely valued by buyers. It always tries to create a unique brand for the customers. In addition to this, it enables to provide a product which are much more different from others in term of the quality and brands. Most the online shopping site has issues; they increase their product price but are unable to ensure the quality but Daraz provides such products that are of good quality and in reasonable price and as well as services also. A unique product or services always builds customer loyalty and trust. 9
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Daraz provides a different type of product that are needed as per the demand of the customer and this are one of the best advantages for Daraz to get more attention from the customer. The product on pages also changes according to the season and fashions. They provide all summer products in the summer season and in the same way they sell winter products only in the winter season. Daraz also provides new products which are newly launched in the market. Daraz provides all product at reasonable and affordable pricing which mostly create a barrier to all other Figure 5: Categorization of product 10
2.3Buying process It has got theclear process. Appropriate management arevery much important in an ecommerce service. Without the proper process and management, the organization cannot get the desired and excellent result. For better result, they need well process and better management. Therefore, Daraz apply all the proper process to perform transaction. This process includes from order of the product to delivery of the product where it have got different more areas. As we know that Daraz does not have their own product. Sometimes must of the customers face difficult to understand the process so far. For that Daraz has their own process which help the user to understand easily and to place their order. The processes are as follow 1.Go to the website of Daraz : https://www.daraz.com.np/# Figure 6: Website of Daraz 2.Search the product you want Figure7: Search the product 11
3.Select the product Figure 8: Select the Product 4.Read and check the product details 12
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Figure 9: Read and check the product details 5.Register / verification of the customers ID/ login In Figure 10: Register / verification of the customers ID/ login In 13
6.Add to cart Figure 11: Add to cart 7.Select the address Figure 12: Select the address 8.Confirm your order and choose for payment method 14
Figure 13: Confirm your order and choose for payment method 9.After confirming the order wait for the order to deliver. Figure 14: Wait for the order to deliver. 10. Receive the order within 4-5 days. 15
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Figure15: Receiving order. 11. Unbox it and check the goods Figure16: Unboxing 16
2.4 Payment method: Daraz has been providing multiple options for their customers to payment made for their customers purchasing of products and services. Some of the paying method provided by Daraz are as follow. Figure 17: Payment Method Esewa Mobile Wallet Credit/ Debit Card(VISA/Master Card) COD(Cash On Delivery is live for the specific cities) Debit/Credit Card(Visa):Darax payment method is as simpple as placing an order on Daraz . And of course theres always an opportunity to grab the daraz card payment discount offer very simply. So, whenever you search for daraz Visa/MasterCard/American Express Card Offer online, you can surely find draz discount on credit for daraz cashback offer as well. 17
Figure 18: Debit/Credit Card(Visa) Following these step properly you can place an order Daraz paymenting with debitor credit cards. But to cinfirm your purchase, you haveto make sure the proper contact with your bank and in the ,eamtome your credit card must be activated for online payments. Again for every installment(emi) plan, don’t forget to make sure Daraz emi partnered banks creditcrad by your side Cash on delivery: (easy and simple at your doorstep). By choosing this payment method, you can pay for the order at your doorstep.. As a customer, one of the most significant benefits of COD is that you can pay only after you get the product in hand. In that way, there is no risk of loss of money. For example, if you pay online beforehand and the seller does not deliver, your hard-earned money gets stuck with the seller. There is no such risk involved when it comes to cash on delivery payments. The customer can also check the product and see whether everything is perfect before paying for it. In case you find that the product is defective or a different outcome has been delivered, you can always return it without paying . Figure 19: Cash on delivery Esewa:Daraz customers canpay through eSewa foranyonlinepurchasemade on Daraz apporwebsite.Andif you wanttoknowhowtomakeeasyand safe payments through eSewa . with just a few steps you can set up your eSewa account for payments for any online purchases made on Daraz. 18
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. Figure 20: Esewa Following are the steps: Step 1: While ordering online from Daraz, add your products to the cart and proceed to Check Out. Step 2: At the Check-out, select Home Delivery and tap on Proceed to Pay. Step 3: Select eSewa Mobile Wallet. Step 4: Ensure that you have sufficient balance in your eSewa account and tap on Pay Now. If you don’t have enough balance in your ID, eSewa option will fade out. Step 5: Enter your eSewa ID and Password. Note: OTP code will be sent to your mobile number via SMS. Step 6: After reading the terms and conditions carefully, click on “I have read and agree to the terms & conditions mentioned above”, enter the OTP code, and tap on Confirm Code. Note: You can unlink your eSewa ID from Daraz at any time. Step 7: Tap on Pay Now. Again, an OTP code will be sent to your mobile number via SMS. Step 8: Enter the 6 digit code and complete the payment process. 2.41 Popular payment method in Nepal: An e-wallet refers to any digital platform that allows users to store money, make payments and transfer money digitally. It is basically a prepaid account: you have to first load your accounts to make any kind of transaction. Lately, many new such apps have been launched to make the digital payment system easier. Theyhavemadethedigitaltransactionsuccessfullyeffortless.Undoubtedly,thelist ofdigital payment optionsin Nepal is vividly growing too. Some are more widely used than others, however. 1.Esewa:There should have been zero doubt abouteSewatopping this list of best digital wallets in Nepal. With over a million downloads on the Google Play Store and an equally impressive number of downloads on Apple’s App Store (there’s a web version as well don’t worry), eSewa is the frontrunner in the Nepalese digital walletrace. Asthefirstonlinepaymentgatewayofthecountry,ithasbeen operational since 2009 and is licensed by Nepal Rastra Bank as well. The platform’s ubiquitous popularity is merely the result of its age, but rather the multitude of services it offers. 19
2.Khalti:Andintheconsistentlygrowingcatalogofdigitalwalletsin Nepal,Khaltiis another one to look out for. Launched inJanuary 2017, Khalti has managed to garner a heap of an audience in a short amount of time. Developed by Sparrow Pay Pvt. Ltd., Khalti has over half a million downloads on the Google Play Store and a vast number of users on the iOS platform as well. Though the company only recently acquired the Payment Service Provider (PSP) license from Nepal Rastra Bank in the second quarter of 2019, people have been pouring into the platform for their payment solutions from the day of its launch. Also, the name “Khalti” just sounds perfect for a Nepalese digital wallet. 3.IME Pay:Next on the list, we have theIME Pay. As the name implies, it is a subsidiary product ofIME Remittance, which is one of the leading remittance companies in Nepal. And though it is a fairly new player in the Nepalese fintech market, IME Pay has managed to woo in a huge user base thanks to its aggressive marketing campaigns. From sponsoring one of the biggest reality TV shows in the country (Nepal Lok Star) to just blasting the cities’ advertisement boards with its promotion, IME Pay hastily managed to climb up the ladder. 4.PrabhuPay: Making its way to the 4thspot in this list isPrabhuPay. And like IME Pay, this one’s a product of pre-established financial conglomerate as well. A digital wallet fromPrabhu Group, which is one of the most well-established corporations in Nepal! Man, that’s got to ruffle the feathers of the competing services. In a little over a year of its release, PrabhuPay has managed to get over a hundred thousand downloads on the Google Play Store and an equally admirable userbase on the iOS platform as well. 5.Qpay Nepal: And last but obviously not the least on the list isQPay Nepal. DevelopedwithanalliancebetweenUnionPayInternational(asubsidiaryof China UnionPay) and Nepal’s ownSCT, QPay Nepal is a force to be reckoned with! While the other digital wallets on this list focus on providing a wider selection of services, QPay has focused on something else – a nationwide acceptance. With UnionPay at its side, QPay Nepal looks to becomethedigital wallet when it comes to making payments in stores around the country. : 20
Chapter 3 Advantages and Drawbacks 3.1 Advantage of buying in Daraz Online shopping has become the new trend of Nepal now-a-days and Daraz Nepal has set up trend in our country successfully. Now people are showing their interest to shop through online because the procedure of the online shopping is confortable. Staying at home, through only one click anybody can shop anything through online avoiding the dishusting sunlight, jam, crowd and other obstacles. So, who can care to shop local market missing these amazing benefit and that’s why online shopping has been very much popular in our country in these days. Now lets see the benefits of online shopping at daraz in below. 24/7Shopping:Themostimportantfacilityofonlineshoppingistoshop anything at any time , for the availability of technology anybody can shop now from Daraz at anytime without any big effort definitely. Unbelievable price: As there is no middleman in online market, the price of the products stay remaind in customers comfort zone. So, the customer can pay only the legal price of any product in online shopping .on the note, Daraz Nepal provides various facilities to their online customers like vast discount offers and delicious gift coupons unbelievably. 21
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Diversity:Themostinterestingbenefitsofonlineshoppingisthatonline shopping can give you the sterling taste of eminent diversity for sure . From Daraz.youcanenjoythevarietyoftheproductswithvariablepricerate exclusively. We can compare various models/brands. Saves time and efforts. As one can shop on office, while travelling, we shop when- ever we like to shop. Easy to set up: it is easy to access by sitting in the home by the help of the software required for the online platform and internet Government subsidies and no geographical boundaries: Due to the rise in online trading and online business, the government is trying to promote digitalization in the online sector. No limitation in the geographical area which means anyone can order anything from anywhere at any time with the help of the internet. 3.2 Drawbacks Things are made to facilitate the people but to some extent. Sometime developer don’t have an idea about the specific circumstances so things work in some limitations and with a passage of time drawbacks are displayed same in the case of Daraz.pk.it has lot of features which is improving with the passage of time but still it has some drawbacks which arise due to increasing user interaction and more visitors hit the site with specific type of demand. First drawback of this interface is complexity which is due to number of products are displayed on the main page although stuff has categorized but website looks more congested with lots of sharp color banners or advertisement. Second drawback is security issues although the use of secure socket layer is very much protective but still systems have an issue of real time security threat. Third drawback is they don’t show the warranty and return polices with products. They placed all polices under a small flag of “need help”. 22
Fourth drawback is they use user search history such a likes and dislikes to recommend them products. Which is an automatically stored by interface built-in function which could sometime cause a breach of serious information and loss. Fifth drawback is huge effort goes into finding a good price. There are different pricein same product. The giant discounts are fake as they give the discount from the MRP (Maximum Selling Price). There may be a transit problems and can be damaged too. Defective item: While buying products, like some kind of electronic stuff, you may end up getting a defective or broken stuff. Pictures may differ from the actual product. Chapter 4 Conclusion 4.1 Conclusion This includes final recommendation aiming to improve the various challenges that Daraz are facing and problem that Daraz are getting during their growth. The recommendation and final analysis are mainly based on the result obtained from the theoretical framework and empirical research. Clients in developing nations are adjusting purchase from the nearby shops and stores. Daraz to proceed with its development rate needs to draw in those clients to internet shopping conduct. In this way, changing client conduct to internet shopping could be trying for Daraz. As the clients are being modernized, paying conduct of client is evolving. The modernized clients today are more open to credit only exchange as opposed to available money. In this way, drawing in those clients who are available to credit only exchange could be another difficult factor for the organization. As Nepal is a non-industrial nation, there are still an absence of street admittance to all aspects of the nation. Regardless of whether they have the access of transportation, the framework be situated all around cities were created and is costly. Thus, transportation is one of the most testing factors for the organization. Although, online shopping rate are rising in Nepal, just 50% of individuals approach web association. As, web are spine for the online business, low web infiltration rate makes it 23
try for the development of Daraz. As there are piles of online business organizations in Nepal, each organization needs to endure and lead the market. Because of the presence of number of organizations, there are more rivalry on the lookout. Thus, to be the pioneer on the lookout and hold clients has become a major trial for the organization. As expressed before, Nepal is a non-industrial nation, and the GDP and PCI of the nation is nearly low. As financial state of the individuals of Nepal is poor, a large portion of individuals are worried about satisfying their essential need as opposed to spending in internet shopping. Inthisway,financialstateofthenationisanotherfactorbehindthetestforthe development of Daraz. Training framework in Nepal is not very much evolved, thus, the greater part of individuals here are untalented or semi-gifted. As, because of the absence oflabor,theorganizationcouldnotstandtoadjustingadditionalhelpwithoutany problem. Along these lines, absence of labor could be another difficult factor for the development of Daraz. It can be concluded that Daraz need to focus age group between 16-35 years mainly whenever adding the product and while promoting. Daraz should focus on Gadgets, fashion product, and electronic appliances more. They should introduce good policy to compete their competitors and need to put more effort to improve time of delivery. They need to Integrate secure digital payment to all their client. International branded products could attract more customers who are used to premium goods. Since Daraz is an open platform for different sellers. Providing the quality service and quality product can be other challenges that the company should focus. Daraz already have the strong logistics network but still they are out of many possible locations. Coverage can be one of the major components to increase the business. Next thing still major part of sellers are out of Daraz platform, acquiring them can be the next factor. In addition to this, customers education could be another major factor. Since e-commers could be still a new topic for the most of Nepali customers. So, by providing different education through different channel like Facebook, YouTube, Television also add the value to increase the business. This report also analysis its issues, for example, the inadequate overall set of laws, absence of enough organization foundations, the level of internet business wellbeing is still low, the web assets can't be taken sane utilization of, its site can't be coordinated viably. Relating measures ought to be taken to assist Daraz with advancing its web-based businessmodeandadditionalbenefitslater.ForDaraz,theyshouldmakemore commitmenttoexpanditsadvocacyintheonlinebusinessindustry,upgradedata administration and make itself a decent data middle person, pay incredible regard for the web security issues, the executives and activity mode change ought to be zero in on. Daraz Nepal is one of the largest e-commerce platforms in Nepal. It has made its status as onlineleadermarketinNepal.E-commerceisstillanewtopicfor amostNepali customer. It is still in juvenile stage. Daraz entered in Nepali market in 2014. In this very few times, it has cemented its place as one if the leading e-commerce site of Nepal. Daraz have created different opportunities for new graduates. Daraz believes that the customer satisfactionisthekeyforthesuccessofe-commerceinNepal.Darazhasbeen consistently working on establishment of well e-commerce site. It also offers frequents promotional offers or events like 11:11, Black Friday sale, etc. Although, Daraz have 24
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biggest e-commerce market in Nepal but it is still lagging to capture the market that the e-commerce site should have. Daraz leans towards advanced promoting over offline marketing. Quality items limited and very much prepared merchants and tremendous venture from Alibaba with great plans and limited time offers are the selling purpose of Daraz. It can maybe a pioneer in reforming the web-based business market in Nepal. References https://www.everestparked.com/post/status-of-e-commerce-in-nepal https://bizsewa.com/ecommerce-business-in-nepal-is-it-worth-it/ https://helpcenter.daraz.pk›page › knowledge https://kathmandupost.com/money/2020/11/22/digital-payments-gain-popularity- among-nepali-online-shoppers https://english.onlinekhabar.com/reasons-why-you-should-use-e-wallet-in-nepal.html https://www.gadgetbytenepal.com/digital-wallets-nepal/ 25