“KnowTalks” Series 2022 explores eCommerce and connected logistics
Dubai, UAE – September 1, 2022 – The Mohammed Bin Rashid Al Maktoum Knowledge Foundation (MBRF), in collaboration with the United Nations Development Programme (UNDP), has continued to explore pressing issues as part of KnowTalks series 2022. This year’s series intends to explore significant contemporary knowledge issues by showcasing best practices and global experiences, outlining solutions to problems, and supporting the sustainable development of nations.
Themed ‘Connected Logistics- upcoming era of click and move’, a session was organized, under the “KnowTalks” series, highlighting the reality of eCommerce and digital connectivity. The event saw the participation of Sarfaraz Alam, CEO and Co-Founder of HashMove, who emphasized that the world is heading towards digitization, eCommerce, virtual reality, and digital connectivity, which are increasing rapidly starting from the manufacturing process to distributors and customers.
Asserting that eCommerce has witnessed significant growth following the COVID-19 pandemic, reaching a value of USD 26 trillion, Alam predicted that the volume of eCommerce is expected to increase even more in the coming five years, to reach a value of USD 100 trillion.
Alam emphasized the importance of digital connectivity for trade movement and logistics in air and maritime travel as well as the vital role that eCommerce plays in promoting international trade.
He explained that consumers and buyers can sell or buy any commodity through eCommerce platforms, adding that this is possible because eCommerce enables anyone to create their own electronic platform with just USD 15 and sell any commodity in any nation worldwide.
Moreover, Alam asserted that there are various laws that were issued to facilitate freight, delivery, and logistics. “Therefore, while operating in eCommerce, startups or small businesses need to concentrate on meeting customers' needs. Every young person's mentality needs to be ingrained with the profit-making philosophy. Such a concept would improve communication between people and businesses. In the area of eCommerce, whether at the level of investors or business owners, there are a lot of possibilities,” he added.
The "KnowTalks" Series aims to provide innovative ideas and solutions for global challenges to various educational, health, and economic fields, assisting decision-makers in making well-informed decisions that support the resolution of these problems and advance the development and advancement of the nation.
