What is Bhotahiti.com all about?
Bhotahiti.com is a website that links buyers and sellers, acting as a mediator between consumers and companies or individuals seeking to sell their goods and services. Similarly, Bhotahiti.com is a platform where you can find various local as well as international products. It helps to connect the business platform throughout the country. Nevertheless, it is an e-commerce program that makes the user easy to buy and sell the products. Furthermore, it is a third party that doesn’t sell any product or service itself however, it is the middleman which runs the online marketplace.
Though Bhotahiti.com is doing the work to uplift the local marketplace, there are still some barriers that are affecting the upliftment of the local marketplace.
Factors Affecting Local Marketplace in Nepal
Political Instability: Political instability is one of the major factors affecting the local marketplace in Nepal. Widespread corruption, poor infrastructure, a landlocked location has been the demerit of the situation. The government is focused to attract foreign investors and create job opportunities. However, they are unaware of their local production. Nevertheless, if the government were able to promote the local products in the marketplace, it would have been a plus point in our country’s income.
Export and Import: Nepal is a low-income, developing nation with an estimated GDP of $28.8 billion and per capita annual income of $973 in the fiscal year. In other words, Nepal is a growing market with a growing middle-class and young population. It’s obvious that while doing business in Nepal, there will be challenges. Moreover, Nepal imports far more than it exports. Meaning, the imports-to-exports ratio in the Fiscal year 2017/18 was 15.2, resulting in a trade deficit of $11.1 billion.
Though the above-mentioned points are not enough to describe the factors affecting the local marketplace, therefore, these are some major points to make it clear why we are backward regarding the local marketplace.
Furthermore, not only the local culture and ancient heritage are an interesting factor of Nepal, but the local products and handicrafts are also one of the eye-catching components of our country. Therefore, Bhotahiti.com is taking a small step to highlight the local products and also to export the goods at an international level.
How Bhotahiti.com is helping to uplift the local marketplace?
Back then people had to visit specified destinations to buy local products, which on the other hand, we can say was time-consuming as well as people couldn’t find their desired products at times. But now, as the years are passing, technology is upgrading and making it easy to work in our daily lives. Just like Bhotahiti.com, it is a complete platform where you can easily buy groceries, bags, medicine, car spare parts, cosmetics, and many more.
Specifically, Bhotahiti.com not only sells branded or international products but also sells local products such as Hulas, Kastamandap sweets, Upakar, Nepali handicrafts, and many more. In addition, Bhotahiti.com helps the local companies to reach a far larger audience through an online marketplace rather than through a traditional store. Moreover, it helps one’s business to reach potential buyers without their geographical location. Online marketplace helps the products to reach large mass of consumers.
All in all, the local market is very important for the economic condition of our country and also helps to decrease the poverty line. Therefore, we need to support local businesses for the betterment of our country.