Ecommerce going Bigger in Philippines
How big is ecommerce in PH
For the past few years, e-commerce has undeniably skyrocketed in terms of its market and trends. Due to the affordability and accessibility of mobile devices such as phones, tablets, and laptops, more people have been using the internet to purchase various goods. According to statistics, the revenue of e-commerce in the Philippines alone has grown to $840 million during 2018 and will continue to grow at an estimated value of $996 million this 2019.
These are the top e-commerce platforms in the Philippines:
Lazada ranks first with a dominance of getting 30 million visits for each month off Q2 2018. They also saw 1.3 billion visits during their 11-11 and 12-12 sale days.
Shopee comes second with had a total of 8.5 million monthly visits between April and June.
Zalora has 1.4 million visits per month.
The Philippines has been one of the biggest social media users all over the globe. The country also has the highest social media users thus they spend more time online. With this, the government saw the potential of e-commerce and launched an e-commerce roadmap until 2020 - aiming to have growth of 25% of the gross domestic product by 2020 from 10% of 2015.
Through convenience and profitability, e-commerce in the Philippines is expected to thrive. More and more users have been integrating these online platforms with their brick-and-mortar stores. With this, more entrepreneurs are encouraged to take their businesses online.