12:00 AM, April 28, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

Internet users have Tk 14,700cr of used goods in stock

Internet users have Tk 14,700cr of used goods in stock

A study indicates OLX's business potential in Bangladesh
Star Business Desk

Internet users in Bangladesh have Tk 14,700 crore worth of used goods in their stocks, a study showed.
The number of used goods is 10.5 crore, which depicts that online ad networks have huge business potential, according to the study released yesterday by OLX, an online marketplace, and MetrixLab, a market research firm.
Internet users aged between 18 and 65 years in six divisions were covered in the survey, Argentina-based OLX said in a statement.
Alec Oxenford, co-founder and CEO of OLX, said e-commerce is still growing in the region. “Many people in Bangladesh have used goods, which they have no use for.”
“What gives OLX an edge in Bangladesh is our global experience, understanding of the users and a track record of fulfilling user needs of selling and buying goods across 105 countries.”
OLX launched its Bangladesh operation as an online ad network in August 2013.
A network offers advertising space for free but sells banner ads on premium space, a major way of generating income.
“The response has been significant; in just eight months, OLX.com.bd has reached more than 225,000 ads on the site,” the company said.
Among the items most stocked in Bangladesh are mobile phones, clothes, books, furniture and home electronics, OLX said. The average cost of each of the item was estimated to be Tk 1,400.


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