Domestic or Multinational penetration strategy of E-commerce Markets: Comparing Daraz.com.bd & Bikroy.com in Bangladesh

Shopping online has also become a new trend as a result of the recent pandemic COVID 19, which has significantly altered consumer purchasing habits and improved public acceptability. However, some e-commerce is still having trouble in achieving satiation while other businesses are growing quickly. Bikroy.com and Daraz.com are Bangladeshi e-commerce platforms where buyers and sellers can connect and exchange things online. These websites were launched in Bangladesh in 2012 and 2015, respectively. Both E-commerce advertises their goods and services on social media platforms like Facebook, Instagram, etc. as m-commerce increasingly gains popularity in Bangladesh. Two examples worth mentioning are Daraz's social media promotion of 15% cash back for Nagad/Bkash Payments and Bikroy’s “Stay Safe in Bikroy.com”. The purpose of the study is to contrast these two e-commerce companies in order to demonstrate why some, like Bikroy, have had trouble attracting customers despite having formerly been the industry leader and a quick mover. At the same time, Daraz.com has experienced significant growth in popularity in the Bangladeshi market despite receiving several product quality complaints. This study uncovers the best business model- and advertising-focused market strategies are most successful in a global setting. Penetration into another marketplace demands the companies to design and implement proper targeting, penetration strategy, business model analysis, and market analysis, and by following the current trend social media marketing strategy. The research provides valuable insights about potential strategies for global reach and different approaches to implement those strategies and recommendations for e-commerce businesses in Bangladesh and contributes to the understanding of e-commerce in developing countries. And Bikroy.com focuses on customer satisfaction while Daraz.com.bd is a cost-driven and value-driven business with a larger revenue and resources and despite challenges, e-commerce has potential in Bangladesh.