Hamburg, Germany, April 28, 2018 --(PR.com
)-- Online retail sales in the Philippines have lagged the recent rapid growth seen among the island nation’s neighbors in Southeast Asia. Even though it has the second largest population of the region, it had the lowest B2C E-Commerce sales figures, according to sources cited in the yStats.com report. Among the hurdles to overcome to foster growth in the online retail sector are the comparatively low Internet penetration rate, credit card holder numbers, and consumer confidence in online shopping.
Online retail sales in the Philippines are expected to rise at a double-digit rate for the next few years even in the face of challenges. An increasing share of the large population is connecting to the Internet, many though mobile devices. M-Commerce is contributing to the rise in online retail; mobile made up about three-quarters of connections to E-Commerce websites in the country, says the yStats.com publication. The Philippine government has done its part to facilitate the expansion of online retail sales by aiming to create a favorable administrative environment.
Among the leading online merchants operating in the Philippines are Lazada and Shopee, both with headquarters in Singapore. Local companies JG Summit and Ayala Group are expanding their online presence and offering to compete with the foreign operators while ensuring that the movement to B2C E-Commerce does not leave them behind.
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Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
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