Sustainability and e-commerce: Fueling healthy growth and harmonious development

The evolution of e-commerce has been explosive, with millions of goods and services being channeled through online marketplaces every day – a trend that is expected to grow as more people move online for their regular buying needs. With the rise of e-commerce success stories, we have also begun to notice several aspects to bear in mind regarding online businesses, such as sustainability.

The uncertainty following the COVID-19 pandemic and changing consumer needs have caused e-commerce businesses to make the shopping experience safer and more sustainable. Sustainability is a significant factor for online shops as it encompasses a multitude of practices with an impact on many facets of life.

While the growth of online shopping is becoming a revenue driver for businesses worldwide, as sales increase, it also creates positive impacts on the environment. In today’s modern times, how we use, conserve, regenerate, and manage our resources matters the most. Businesses have started focusing on reducing their carbon footprints, waste materials from production, and overall environmental impact.

Many of us grew up with the terms “reduce, reuse, recycle” in our schools and colleges. Maintaining the three 'R's not only helps the environment but also increases brand loyalty among environmentally conscious customers. Moreover, using recyclable materials for the entire manufacturing process and opting for climate-neutral shipping methods can help e-commerce businesses enhance their waste management.

At the same time, the ramifications of the ongoing crisis have triggered companies to redesign their transportation system, accommodate customer demand, address changes in trade, and be more responsive in the market. However, for e-commerce retailers to remain solvent, they must focus on their viability and profitability as well. Businesses that want to thrive economically need to capture a growing market, manage the risk of product liability, and maintain fool-proof operations. Entrepreneurs should keep a balance between serving the consumers and community and making a profit because it is a business, after all.

Along with environmental and economic sectors, the social area remains an important aspect of sustainability. This means to operate in a way that is beneficial for employees, business owners, and also the surrounding community. To accomplish that, businesses should ensure that people involved in the construction of goods and services are treated and compensated fairly. They must also pay careful attention to the entire supply chain management.

Focusing on being more sustainable can be favorable for businesses, especially in Bangladesh, where the growth of e-commerce is increasing exponentially. Although panic and increasing unemployment decreased demand among many sectors, the numbers quickly recovered due to the innovation and agility of numerous e-commerce platforms in the country. Daraz Bangladesh, for instance, has stood out in the market with its innovative services. The country’s largest online marketplace has been committed to ensuring that its actions reflect the norms of society and the betterment of its customers. They have contributed to the fundamental aspects and supported the regulations of the country with utmost responsibility towards all stakeholders.

Sustainability often means taking the path of less convenience. With its continued efforts, Daraz has strengthened its capabilities in the digital ecosystem while contributing to the growth of the country’s e-commerce ecosystem; thus, ensuring a more sustainable platform for the consumers and the company itself.

Bangladesh and its e-commerce industry are flourishing despite the pandemic. To maintain a thriving expansion, companies and business entities must incorporate sustainable measures in their business model. Transforming global practices into sustainable ones is probably one of the greatest challenges faced by the 21st century. Eventually, the goal is to create a balance between the environment, society, and economics.