STAFF REPORT KHI: Pakistans e-commerce market is expected to surpass $1 billion in five years, say local tech gurus who believe the time is ripe to invest in this growing segment and demonstrate leadership to succeed in this industry.


“Pakistan is expected to see a boom in e-commerce in the next five years. This represents a huge opportunity for both start-ups and investors,” said Shayaan Tahir, Founder and CEO of local e-commerce giant Homeshopping.pk.


His company has partnered with digital agency Creative Chaos to form HSN Ventures.


Currently valued at over $60 million, the countrys e-commerce sector is set to double in size every year – that is, it is growing at a compound annual growth rate (CAGR) of over 100%. The industry analysts predict this trend (rate) will continue during the next three to five years and help the sector surpass the $1 billion milestone in 2020.


Now a fully-owned subsidiary of HSN Ventures, Hompeshopping.pk is looking to fully capitalise on these growth projections.


Since the rollout of 3G, which started in mid-2014, Pakistan has been adding more than one million new users to its mobile Internet base every month. The number of broadband users in the country skyrocketed to 23 million at the end of October, 2015, up from less than 4.7 million a year ago.


“Pakistan is at a turning point in terms of internet and mobile penetration,” Creative Chaos chief Shakir Husain said. “The time to invest in e-commerce in Pakistan is now.

By Web Team

Technology Times Web team handles all matters relevant to website posting and management.