Dhaka, Saturday, 15 May 2021

Entrepreneur Moniruzzaman Ringku

F-commerce brings fortune during Covid-19 pandemic

2021-01-21
F-commerce brings fortune during Covid-19 pandemic

Apparel Correspondent:The innovative idea helps businesses to meet the challenges. It becomes more relevant when the epidemic comes and creates an existential crisis.

It is mentionable that popular social network Facebook has unlocked an alternative idea and paved the new mode of the business platform for the micro-entrepreneurs from the beginning of Covid-19 pandemic.

Though doing business by using Facebook, widely known as F-commerce, began before the pandemic, it is booming now. Nowadays popular and trusted brands are also using this platform.

F-commerce has created many success stories during Covid-19 pandemic. Like many micro-entrepreneurs in Bangladesh, Moniruzzaman Ringku who is a founder of 4 Lesson's, a clothing brand, had to undergo a huge uncertainty to sustain his business.

Ringku has never thought that a social networking site like Facebook would help him to change his business policy and give him a fruitful alternative way of selling products and earning profits in this pandemic. He is now doing his business smoothly and planning to expand it for ongoing winter.

“I was in a dilemma regarding the future of my business when pandemic came. I was forced to reduce it to avoid unexpected losses. Finally, I have started using the Facebook marketplace and seen a huge response among the customers. Thanks to F-commerce as I have already met up my business challenges,” Ringku told The Apparel News over the phone.

Regarding the dealing process of F-commerce, Ringku said that it is a part of E-commerce. So, the seller here uses it for selling products online for free by using a Facebook page. After opening a Facebook page, the seller posts the pictures of the products with the price, payment gateway and delivery process. Customers show interest in the comment section and place an order at the inbox of the seller. Then the seller hands over the products accordingly.

He said there are some benefits for the F-commerce merchants. They can offer products at the lowest prices while shopkeepers in the traditional market have some limitations as they have to think of shop rent, employee's salary, electricity bill, and other expenses.

At present, we see the retailers along with wholesale traders are doing business in the Facebook market place. But Ringku feared about the wide expansion of F-commerce like other market places as some seasonal businesses come to Facebook without having proper knowledge about the market. Though their products become popular among Facebook users, they fail to grasp it for a long period. Thus, the Facebook-based clients loss their interest in buying products. Ultimately, it creates a negative impact on F-commerce.

“Those who want to use Facebook platform for business purpose, have to study a lot about F-commerce. Only standard business professionalism will extend this market place and bring the productive way of businesses for micro-entrepreneurs like us,” added the 30-year-old visionary entrepreneur hoping to extend F-commerce countrywide one day.

According to the experts, Facebook-based businesses have to go a long way ensuring transparency and authenticity of every trade. They need to have knowledge about customer management, product branding and others.

Accountability must be ensured to stop fraudulent activities and enhance customer satisfactions.

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