E-commerce in Sri Lanka

Sri Lanka had an internet user base of about 6 million as of July 2016, about 28.2% of the population.[1] Despite being a developing country, the e-commerce industry has been receiving funding over the span of 10 years.[2] Market conditions in Sri Lanka are similar to those in India, as cash on delivery is the most preferred payment method.[3][4]

According to experts, Sri Lanka’s annual domestic e-commerce sales value including services is an estimated US$40 million. This is expected to grow to US$400 million by 2022. Currently only 0.4% of Sri Lanka’s total annual retail sales (US$10 billion) is in e-commerce.[5][6][7]

Government involvement

The Government of Sri Lanka has shown interest in promoting the country's e-commerce industry further.[8][9]

References
  1. "Sri Lanka: internet penetration rate 2016 | Statistic". Statista. Retrieved 2019-02-27.
  2. "Better regional infrastructure, rules, mooted at Sri Lanka e-commerce meeting". www.economynext.com. Retrieved 2019-02-27.
  3. "'Sri Lanka's e-commerce segment records 34% growth'". Daily News. Retrieved 2019-02-27.
  4. Weerakoon, Ravidu Mario (2019-01-11). "Five Ways to Stay Ahead of Competition in Growing E-commerce Market". Entrepreneur. Retrieved 2019-02-27.
  5. "SL e-commerce to hit US$ 400 mn by 2022". Daily News. Retrieved 2019-02-27.
  6. "Three Reasons Why eCommerce Is The Future Of Fashion In Sri Lanka". roar.media. 2018-02-15. Retrieved 2019-02-27.
  7. Hewage, Indunil. "Growth in Sri Lankan e-commerce sector - Daraz". Daily News. Retrieved 2019-02-27.
  8. "Policies promoting e-commerce and digital transactions key for Sri Lanka to enter Fourth Industrial". www.dailymirror.lk. Retrieved 2019-02-27.
  9. "Second dialogue on Sri Lanka e-commerce reforms opens on September 6". Adaderana Biz English | Sri Lanka Business News. 2018-09-04. Retrieved 2019-02-27.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.