Nepal has a very high prospective in the IT sector because this field has not moved or been played in Nepal. This may be because of the infrastructure that lags behind, or could it be the human nature that does not support online shopping because we are so bounded into the touch and buy practices.
Here is a short SWOT analysis on the establishment of an online shopping website for Nepal.
Strength:
• Not much of competition here in Nepal.
• Not just looking into one field.
• Vast audience.
• Low investment.
Weakness:
• Lack a supportive infrastructure in Nepal for an IT industry.
• Lack of experience.
• Swift change in pricing.
• Lack of custom knowledge.
Opportunities:
• Increasing Number of Internet Users.
• Increase in efficiency of net banking.
• Globalization
• Lack of exploration of the field.
• Increase in computer education.
• Banks promoting telephone, SMS and net banking.
• Increase in usage of cards (debit/credit)
• Lazy attributes of people around.
Threats:
• People are used to physical purchase, may be difficult to change this.
• People do lack the complete knowledge in IT.
• The banks and the card companies have not supported online businesses
• Consumers prefer not to shop online.
• Lack of users of Net Banking and approach to the physical banking instead.
If able to explore the field and find a proper way to develop the online database, the opportunities and changing trends will help in booming the field helping the idea to hit the roof.
Contact Himosh (himosh@gmail.com) for an effective business plan for the online shopping in Nepal.
