Bangladesh
We have been operating in Bangladesh since 2015 and it represents the largest GDP economy of our markets supported by a strong digitalisation vision by the government.
Bangladesh represents a huge growth opportunity.
It is one of the fast-growing economies in the world, identified as a Next Eleven rising country by Goldman Sachs, based on the outlook for investment and its future growth.
By 2030, 70 percent of the population will be under the age of 26, and it will shift from the 29th largest consumer market in the world to the 11th – a change of more than 52 million people.
All of these factors illustrate the scale of the opportunity for e-commerce in Bangladesh.
166 million
Population
US$356 billion
GDP
51%
Internet penetration
70%
Population below 26 years old
4.6%
GDP growth rate
11th
Largest consumer market in the world by 2030
We know Bangladesh.
We live here.
Seller story
MD. Sharif Islam
Each day, we are focused on doing our part to help the country achieve its vision of a ‘Digital Bangladesh’.
We want our contribution to make a real difference – that fuels our team of employees daily, supporting more sellers and customers to connect more seamlessly at the simple touch of a button.
Our eye is on the future. By leveraging our innovative technology, we believe that we can create an ecosystem where every corner and person in the country can be connected.
We want to help all Bangladeshis prosper in a ‘Digital Bangladesh’ we can build together.
23,200
Sellers
136
Logistic hubs
1,110
Employees
63%
Digital payments
We are uplifting communities in Bangladesh through the power of commerce
Meet our Managing Director of Bangladesh, Syed Mostahidal Hoq.
What attracted you to the role at Daraz?
Daraz has always stood out in the market with its innovative culture and cutting-edge technology solutions - and that was what attracted me to the company. When I first joined Daraz, e-commerce and digitalization were still at very early stages of development in Bangladesh, and I was excited to be part of the action in growing the potential of digital commerce in the country.
With my expertise in business and accounting, I was also keen to see how I can contribute to the developing payments and financial scene in Bangladesh, and I knew joining Daraz at that time would allow me to learn from a great team of e-commerce experts and, of course, those from our parent company, Alibaba Group.
It has been a steep learning journey thus far but one that has provided immense satisfaction, especially when you see the acceleration of e-commerce and digitalization in Bangladesh and the happiness it brings to both our customers and sellers.
What is your background?
As a Chartered Accountant, I spent most of my early career in finance roles and also at an accounting consultancy. But then I had the opportunity to work with a sports e-commerce company in the UK for two years, which helped shape my understanding and interest in the world of e-commerce.
I then joined Daraz as the company's Chief Financial Officer in 2014, before assuming my current responsibility as Managing Director in 2017.
What is your aim for Daraz in Bangladesh?
I believe that we have the opportunity to serve over 50 million people here in Bangladesh, and this means we can play a role to help improve their lives.
To me, Daraz is a platform that can give people a multitude of opportunities that empower them to change their own lives, and therefore my aim is for Daraz to grow into a household name that can add value to every Bangladeshi.
What does a typical day look like?
Every day at Daraz is different, and that is what keeps me excited about my role.
My workday typically starts off with a quick analysis of the previous day's sales, which allows me to have an understanding of how we are performing and formulate potential ideas and solutions to improve certain aspects of our performance.
Doing this also helps me shape the discussions that I have with other members of the team or any key external stakeholders whom I am meeting that day. The discussions and meetings that I have in a day are usually focused on how we can further grow Daraz Bangladesh and create a sustainable, game-changing business that benefits our users.
I then usually aim to try not to leave the office too late so that I can spend some quality time with family and recharge for the next day.
Where do you see the biggest opportunity for Daraz?
While we are already the country's leading e-commerce platform, my view is that we are moving into a phase of the business where Daraz will be able to offer both our customers and SMEs so much more throughout all parts of our ecosystem - from our e-commerce marketplace right to our digitalised logistics network and financial services.
With that, it will create the opportunity for Daraz to further contribute to the growth of Bangladesh's e-commerce industry. We are focused on creating an environment in which entrepreneurs and SMEs can thrive by not only providing them with innovative, tech-driven logistics and payments solutions but also learning opportunities and tools on how to run successful e-businesses from the ground up.
At the same time, with more customers now realizing the efficiency of online shopping and digital transactions, the opportunity is for Daraz to continue providing them with innovative and personalised experiences at every step of the customer journey.
All these efforts combined will ultimately help the country's e-commerce industry flourish.
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