From the toothpaste we use upon waking to the book we read before bed—everything is now at our fingertips. In the journey toward a “Digital Bangladesh,” e-commerce is undoubtedly a major blessing. However, much like the flip side of a coin, this blessing is intertwined with curses, fraud, and the heavy sighs of thousands of customers. The rollercoaster ride we have witnessed in Bangladesh’s e-commerce sector over the past few years beats even the most dramatic movie scripts.
But the question remains: despite such massive collapses, have we truly become aware? Or are we still ready to step into the trap of lucrative offers?
The journey of e-commerce in Bangladesh began with the promise of making life easier. Especially during the COVID-19 pandemic when the world came to a standstill, e-commerce was one of the key drivers keeping the economy moving. The comfort of receiving products at home made people reliant on technology.
The problem began when e-commerce shifted from being a “service” to a form of “gambling.” Unbelievable offers—”Buy one get two free” or “Motorbikes at half price”—numbed the common sense of the general public. Basic economic principles dictate that no business can sustain losses in the long term. Yet, we witnessed a frenzy of selling products at prices lower than their production cost. We mistakenly labeled this unrealistic model a “revolution,” when in reality, it was a well-planned Ponzi scheme or Pyramid scheme.
With the fall of several major institutions and the embezzlement of billions of Taka, the biggest casualty has been “Trust.” Thousands of middle-class families have lost their life savings and been left destitute. Whether driven by greed or innocent faith, at the end of the day, it is the common people who suffer.
Because of a handful of fraudulent institutions, thousands of honest and small entrepreneurs (especially F-commerce entrepreneurs) are now suffering from a crisis of confidence. Customers are unwilling to pay in advance without “Cash-on-Delivery,” which is severely damaging the cash flow of small businesses.
After so many incidents and so much public outcry—has our mentality changed? The answer is frustratingly “No.” Even today, if an anonymous page on social media advertises an iPhone or electronics at an “unbelievably low price,” people rush to buy it. Greed is still more powerful to us than logic.
The habit of checking seller reviews, verifying trade licenses, or confirming physical locations before purchasing has not yet developed among the majority. Furthermore, because exemplary punishment for criminals in this sector is not always visible, new fraudsters are emboldened. Adopting the policy of “Old wine in a new bottle,” the same types of scams continue under new names.
To save e-commerce and strengthen it within the mainstream economy, we must abandon emotion and rely on logic. The necessary steps are clear:
Escrow Service & Payment Gateways: The “Escrow” or trusteeship service—where money does not go to the seller until delivery is confirmed—must be made more accessible and mandatory.
Rejecting Unrealistic Offers: Customers must understand that getting a product worth 150 Taka for 50 Taka is not a “deal”; it is bait. We must break the habit of swallowing this bait.
Strong Monitoring Cell: There needs to be a powerful and independent e-commerce monitoring cell under the Ministry of Commerce. This cell should not just accept complaints but proactively monitor the market.
E-commerce is not a villain; it is an essential part of the modern economy. Institutions like Amazon or Alibaba have transformed the global economy. In our country, companies like Chaldal, Rokomari, or Daraz are doing business with integrity. We cannot let the whole garden be ruined by a few weeds.
However, we must remember that in this age of technology, there is no room to be foolish. Awareness is not just the responsibility of the government or the law; it is your personal responsibility and mine. The proverb “Greed leads to sin, and sin leads to death” is equally true for e-commerce. If we do not learn now, history will continue to repeat itself, and we will be left with nothing but regret.
We should stop ‘emotional shopping’ and start ‘logical shopping.’ Let our e-commerce journey be safe.
