ATTENTION-SEEKING FOR SMOOTH RUN OF CONSUMER PRODUCTS INDUSTRY.

Byline: SYED FAZL-E-HAIDER

Pakistan is confronting with new challenges and emerging issues in the highly competitive world of consumer products, which is more complex, well-connected and fast-moving than ever. Whereas, it creates enormous opportunities, it also enhances risk factors. The products and services actually constitute the consumer sector. The sector may also be divided into consumer staples and consumer discretionary goods and services. Consumer staples include food and beverage products, household supplies and any other items that are used on a regular basis due to ordinary use. The products sold directly to consumers are called consumer goods. Anything purchased by the average consumer, from fruits, vegetables at the local market to a washing machine, television sets to a laptop computer, is part of the consumer business industry. A staple industry represents a continuous required product used by the common man. Food and personal hygiene items are two examples considered part of a staple industry whether in manufacturing or retail sales.

E-commerce has brought a significant change in buying behavior of Pakistani consumers in the last one decade. The online dynamics has grown manifolds. In a survey conducted in collaboration with Quantum and Ipsos, Google has revealed key insights into how consumers are making purchases now. The survey report reveals that Google has become the first and last touchpoint of most consumers in the last decade as they begin their purchase journey. The consumers, spend more time on Google searching regarding a product than they spend anywhere else on the internet. The trend of 'webrooming' is also increasing in Pakistan, at an exponential pace. Webrooming is the concept of the consumer searching online while present at the store to buy a product.

Last year, the federal government approved the first-ever e-commerce policy framework. As per approved framework, e-commerce is defined as buying and selling of goods or services including digital products, through electronic transactions conducted via the internet or other online communication networks.

Under the policy framework, the policy areas includes e-commerce regulation and facilitation, financial inclusion and digitisation through payment infrastructure, empowering youth and SMEs through business support programmes and trade development, consumer protection, taxation structure, ICT infrastructure and telecom services in Pakistan; logistics, data...