E-commerce in Nepal is likely to become the main shopping trend

Published on: 2016-04-21 11:51:12 2416 times read 1 Comments

Since its inception in Nepal in 2013, Kaymu, an e-commerce platform that connect
s buyers and sellers, has grown to become a large online shopping community in t
he country. The company has 1,000 active sellers more than 35,000 products regis
tered in 150 plus categories on its website. Niroshan Balasubramaniam, CEO Asia
of Kaymu was in Nepal for his regular business visit. Krishana Prasain of New Bu
siness Age caught up with Balasubramaniam to talk about, among other things, the
growing online market trend, Kaymu s new services and future plans in Nepal. Exce
rpts:
What is the main purpose of your visit?
We will be partnering with the biggest Nepali business groups by co-branding som
e of our marketing and commercial initiatives. We have widespread business globa
lly, and I visit each of our Kaymu branches to observe the progress on a regular
basis, in spite of also regularly communicating. E-commerce is an industry whic
h has amazing opportunities especially in a country like Nepal, but also there a
re challenges to bring buyers and sellers together.
Kaymu has created significant attraction in Nepal in a very short period. What a
re the reasons behind its success?
A young and educated population in Nepal which has access to the internet is gro
wing up. Also, there is a lack of shopping malls in the country on a large scale
. So, Kaymu is a way for thousands of products from clothing to electronics bran
ds to be at one place. We give access to the buyers of all the products from whe
re they reach out to the sellers. It is not an online store; we connect buyers a
nd sellers. From a buyer s point of view, you can find a large number of products
at affordable prices. Similarly, from a seller s point of view, you can be an entr
epreneur who can sell online without having to spend opening a shop. We are prob
ably the first to start e-commerce in Nepal. In terms of technology, we are also
playing a major role as we have a proper website and a mobile app, since Nepal
has emerged as a mobile driven country. In the future, 70-80 percent of our traf
fic will be coming through mobile devices.
How do you see the future prospects of e-commerce in Nepal? How important is Nep
al s market for Kaymu?
E-commerce in Nepal is likely to become the main shopping trend. E-commerce is a
fraction of the way people do shopping in countries like Nepal, India, Banglade
sh and Sri Lanka where the market has developed into traditional bazaars and sho
pping malls. It will be cheaper to operate an online market compared to building
large shopping malls.
Nepal is a prominent market for Kaymu. We launched here believing in the country s
business potential supported by factors such as, a growing number of internet u
sers and no market competition. We have also been receiving a positive response
from Kaymu users. Despite a tough business environment here, we see good prospe
cts in Nepal.
How is Kaymu performing in other markets?
We are in seven countries in Asia. In South Asia, we are the market leader. Also
, we are the biggest open online market in the countries where we operate. We ar
e growing in Africa too. We have formed seven companies in Asia and we have the
advantage of being an international company.
Many online shopping websites have spawned in Nepal in recent years. How is the
competition for Kaymu?
We always welcome market competition. Growing competition means people will get
the best products at the best prices. We are the market leader in our business a
s we are an international company and besides this we have a very strong workfor
ce, a strong network here.
As an e-commerce platform, what benefits can buyers and sellers get by doing tra
nsactions on Kaymu?
For buyers, Kaymu takes away all the hassle of going from shop to shop and buyer
s get to know the prices easily. On Kaymu you can find 50,000 products at one si
ngle place offered at reasonable prices. For sellers, it is a tool for entrepren
eurship.
Are you planning to introduce new services? What are your expansions plans for N
epal?
We have a new innovation coming soon. We are planning a shopping cart where peop
le can buy different types of commodities at a single order. We hope that it wil
l enable customers to buy things in a more convenient way. Besides Kathmandu, we
are already in the major cities across Nepal. We will be expanding our network
in the country in future.
With many international e-commerce websites targeted by hackers in recent years,
how do you ensure a safe online shopping platform to your customers?
Our IT platforms are developed in Europe with very high standards of security. A
lso, we are safer because we do not store any financial details of our customers
.