The early-stage e-commerce startups should understand that it will achieve profitability only after achieving a certain level of economies of scale, said Tajdin Hassan, the chief marketing officer (CMO) of Daraz Bangladesh today.
"Economies of scale will occur when it has a sustainable business model. For an e-commerce company to thrive, it's important to have an investment in three things - infrastructure, tech, and people," he said at the country's first-ever E-Commerce Summit at Le Meridien, Dhaka on Saturday.
Tajdin also said, "Every e-commerce company should look for alternate social channels to Facebook, when it is about promoting their products. As a marketer, having the courage to go against the flow is vital to thrive in the e-commerce industry."
Bangladesh Brand Forum on Saturday organised the summit with the aim to unlock the true potential of the country's e-commerce market.
The event titled "e-Commerce Summit 2022", in association with eCourier and The Business Standard was presented by Daraz, powered by Dotlines.
This year, the theme of the summit was "Revitalising the E-commerce Industry".
The summit assembled renowned experts, retailers, and brands under one roof who shared their knowledge on the key trends in the E-commerce industry. They emphasized on building a sustainable e-commerce ecosystem and explored what the future of retail will look like as consumers continue to embrace new ways of buying in the ever-increasing digital world.