Positioning Bangladesh in the global retail race

When I first started working in the world's largest retail and e-commerce ecosystem, Walmart in the United States, I wondered how the same concepts could apply to my home country, Bangladesh. Could we position ourselves in the global e-commerce race? Could we move beyond the norm and embrace a model that mixes both convenience and innovation?

I found my answer when my mother placed her first online order without any assistance. If a 70-year-old could do it herself without any support, anyone can! That one simple act told me the future of e-commerce in Bangladesh is not only possible but inevitable.

The rise of local champions

Homegrown players in the market from Bangladesh are already setting the standard. In addition to creating online stores, they are also experimenting with omni-channel retail, a hybrid model that allows the same customer to easily shop both online and offline. This is important because physical stores are still popular in our culture. The human connection, interactions, and the aroma of fresh vegetables are all irreplaceable. However, integrating these experiences with technology is where the future is.

Walmart has more than 5,000 retail locations nationwide that serve as distribution centres, which contribute to its success in the US. This enables them to facilitate 'quick commerce', delivering necessities or groceries in 15 to 30 minutes. Even though we might not have the funds to open a retail store on every corner of the country, we can now think strategically and construct warehouses and distribution centres in strategic locations to reduce delivery times and facilitate speedy commerce in Bangladesh.

The infrastructure is already here

But do we even have the technology penetration for such growth, you might ask. Yes, without a doubt. Rural areas are now deeply connected to the internet and digital finance thanks to finance companies and telecommunication service providers. Today, millions of people use mobile wallets, own smartphones, and browse the internet daily. The audience is prepared; e-commerce leaders just need to make a strong push.

Imagine a busy parent in Dhaka receiving fresh fish in 20 minutes, a farmer in Rajshahi placing an online order for supplies, or a student in Barisal receiving their books via courier in a matter of hours, all while making a secure payment. The dream is near.

Beyond products: delivering happiness

E-commerce is ultimately about delivering happiness, not just about selling goods. Providing customers with high-quality products, reasonable prices, and dependable delivery should be every retailer's top priority.

Naturally, no business can satisfy everyone. Even the world's largest companies deal with disgruntled clients. You can't make everyone's day sweeter; you're not a jar of Nutella. However, you can guarantee that you deliver that Nutella jar in the quickest amount of time and at the best price.

Technology as the game-changer

Technology will be the driving force behind retail in the future. Based on my experience, I believe there are a lot of opportunities in the following areas.

Imagine storefront ovens, freezers, or refrigerators that use telemetry to automatically notify store managers when something isn't working right. By preventing food from spoiling, this minimises waste and maintains customer satisfaction.

Retail companies can use artificial intelligence (AI) and machine learning (ML), which is basically inevitable in the 21st century, to predict trends, find popular products, and customise promotions. Imagine your favourite app predicting which fruits will be popular before Eid or recommending the exact snack you always forget to order.

AdTech: Targeted, intelligent advertising that reaches the right consumers at the right moment. Campaigns can be customised to target particular customer groups rather than presenting the same offer to everyone.

When it comes to technology, the possibilities are endless, and there are no limits to research and development. But not every shiny tool or new invention is the right fit. The key is to identify which solutions bring the most value to both the business and the customer. In the race for e-commerce, the winners won't be those who adopt every new trend, but those who choose wisely, invest strategically, and use technology to stay one step ahead of the game.

The importance of supplier relationships

Retail is not a race; it's a marathon. Relationships are important in Bangladesh.

Strong relationships with farmers and suppliers are the foundation of a robust supply chain. Fair trade principles, consistent supply of everyday necessities, and prompt delivery of fresh produce can all contribute to a thriving ecosystem that benefits suppliers and retailers alike.

From corner shops to clicks

Small and medium-sized businesses (SMEs) in Bangladesh have increasingly embraced digital retail solutions in recent years. Thousands of small shop owners now use mobile platforms to order goods directly from producers and distributors.

These platforms cut out unnecessary middlemen by sourcing products straight from manufacturers and using a unified delivery system. This approach significantly lowers costs and allows traders to retain a greater share of profits. Retailers can now restock their inventory through their phones and receive next-day doorstep delivery, saving hours of travel to wholesale markets. This digital integration creates a more cohesive and effective retail ecosystem nationwide by bringing traditional corner stores into the formal economy while also saving time and money.

Beyond just groceries, certain delivery services have made it possible for business owners of small enterprises, such as tiny fashion boutiques or electronics vendors, to ship goods across the country in a matter of days. Entrepreneurs in Bangladesh, from Dhaka to Rangpur, can now create long-lasting digital enterprises without owning a single storefront thanks to the democratisation of logistics.

Bangladesh has the right ingredients: digital finance, a growing middle class, internet penetration, and a young, tech-savvy population. Connecting these dots is the next step. In addition to selling, our retail giants could consider establishing credibility, guaranteeing dependability, and fostering convenience.

E-commerce is not the enemy of traditional retail; it is its partner. A 'mudi dokan' (corner shop) across the street will always be there. The challenge is to empower that 'Mama' (shopkeeper), bring him into the digital ecosystem, and give him tools to compete in the new world.

Bangladesh will not only join the global retail race, but we will make it exciting if we seize this opportunity. Because let's face it, if we can handle Dhaka traffic every day with patience, we can definitely handle the logistics of the shopping ecosystem.

The author is a Senior Product Manager at Walmart, USA.

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Views expressed in this article are the authors' own.