The online markets revolution: why is e-commerce relevant now?

Today, when technology continue to develop rapidly, and the Internet has firmly entered people's daily lives, e-commerce has become not only an important trend, but also an essential tool for business success.

Boom of “Electronic Bazaars”

From 2019 to this day, the rapid growth in the popularity of online marketplaces has continued in Uzbekistan. Even those who used to consider themselves conservative have begun to realize the benefits of online shopping.

Many new players, such as Chakana, Bulavka, Wildberries, Zoodmall, Sello, Vibo, Hama, Unisavdo, Alif Shop and Uzum Market, have appeared on the market, which indicates the growth of the country's purchasing potential and the creation of all the necessary conditions for the development of this area.

According to a study by Research Group Central Asia, the online trading market is actively growing in Uzbekistan.  Uzum Market and OLX are the leaders, with Uzum being more popular among women and OLX being more popular among men.

The main stream of buyers are people who rarely used online shopping before.  Despite the continued relevance of offline shopping, many are moving to online shopping, and this process will gradually increase in the coming years.

What are the benefits

Marketplaces provide great potential for emerging retailers and SMB owners as they simplify the work process by providing the following benefits:

1. Large number of potential buyers: Marketplaces attract many visitors, which allows sellers to avoid advertising and client acquisition costs.

2. Logistics: Sellers do not need to organize an offline store, warehouse or delivery system, as the marketplace takes over these functions.

3. Trust: Buyers who trust the marketplace and are satisfied with its services automatically trust the sellers on this platform, which removes most of the doubts from the audience and increases sales.

4. Empowerment: Online retailing removes restrictions on the territory, allowing sellers to reach potential buyers across the country and beyond, which expands the market and increases sales potential.

The role of women in the field

IT Park has launched several projects with the aim of attracting more women to e-commerce and information technology. These projects were designed to create an inclusive environment for women as well as support their professional development in these areas.

For example, in August 2023, IT Park and the OSCE Project Co-ordinator in Uzbekistan, jointly with Uzum and IT Loyihalar, launch a joint free e-commerce program shE-commerce.

It is designed for 150 women who are interested in strengthening their potential, which in turn contributes to the development of the digital economy. The courses will be held in the city of Termez and will last for two months.

Within the framework of the program, participants will learn how to use MS Office programs, learn the basics of marketing in social networks and gain practical knowledge about working on the marketplaces of Uzbekistan.

This course will be a tool to help women build their businesses and achieve their goals, enabling them to generate sustainable income through information technology.

The future of e-commerce

IT Park has repeatedly emphasized at the international level that the development of online entrepreneurship and e-commerce in particular is a priority for the development of the economy of the whole country.

Makhliyo Muksinova, Deputy General Director of IT Park for Education, also notes that:

“The development of e-commerce opens up new opportunities for women in entrepreneurship and professional growth. The electronic platform provides unique conditions for starting and developing a business with minimal costs and access to the global market.

Flexible and remote work is one of the benefits of e-commerce for women. They can successfully combine work with childcare and family responsibilities, ensuring a balance between career and personal life. E-commerce gives women access to the global market, expanding their business opportunities. The scale of the enterprise increases, the audience becomes more diverse due to attracting clients in different regions and countries.

The participation of women in e-commerce contributes to balancing their position in society and ensures equality in entrepreneurship. Professional development and the acquisition of new skills allow women to influence economic and social development, contributing to a more equal world”.

The founder of Uzum, Jasur Djumaev also notes that e-commerce is a strong incentive for the development of entrepreneurship in Uzbekistan.

“E-commerce in general is a driver for the growth of entrepreneurial activity in the country, we have a lot of sellers who, using our platform, began to sell their goods throughout the country.

Moreover, about half of them had no online sales experience before or were not connected with entrepreneurship at all. We and our partners see a huge interest in our platform: we already have more than four thousand sellers on Uzum Market, and with the launch of the partner lending program, their number grows even more actively”.