Pakistan’s premier digital agency and technology company Creative Chaos and leading ecommerce platform HomeShopping.pk, today announced the formation of “HSN Ventures” with a commitment of bringing online shopping to different segments of society and giving more choices at competitive prices to its customers.
Founder and CEO of Homeshopping.pk and HSN Ventures, Shayaan Tahir said; “We are the pioneers of ecommerce in Pakistan and since 2009 we have developed a significant market share with a loyal and growing customer base. HSN Ventures provides us the platform to build upon this success and scale our business and operations for the growth that Pakistan is expected to see in the next 5 years.”
With the world’s sixth largest population of 200 million people of which 55% are under the age of 25, and over 30 million internet users, Pakistan is expected to see a boom in ecommerce in the next 5 years. There are over 15 million 3G and 4G internet users with nearly 1.2 million subscribing every month. Estimates value the current ecommerce market at around 60 Million dollars and project it to hit over 1 Billion dollars in the next five years. This represents a huge opportunity for both startups and investors.
“Pakistan is at a turning point in terms of internet and mobile penetration. The time to invest in ecommerce in Pakistan is now. Equally, the time for leadership within the ecommerce landscape is now. It is how one plans, strategizes, innovates and finances their growth that will ultimately determine success in this industry.” said Shakir Husain, CEO of Creative Chaos.
HSN Ventures will leverage Creative Chaos’ expertise in building scalable technology, product catalogs and experience working with leading global ecommerce players like Groupon, ebay, Staples and Sears. HomeShopping.pk, which is now a 100% owned entity of HSN Ventures, will be the first to see the benefits from this venture.
Pakistan’s online retail ecommerce market is just 0.10% of the total retail market. Retail ecommerce is expected to grow to about 2% of retail by 2020. “This tremendous growth requires all ecommerce companies to scale their technology and operations. As a technology company that has worked with global ecommerce players, we have the experience and expertise to scale HomeShopping and HSN Ventures and position it to lead the ecommerce race.” said Umair Aziz, Chief Technology & Innovation Officer of Creative Chaos.