Philippines Online Retail Lags in Southeast Asia But is Prepared for Growth, Says New yStats.com Report
Hamburg-based business intelligence firm yStats.com’s new report, “Philippines B2C E-Commerce Market 2019,” provides details on the history of online retail growth in the archipelago and forecasts for future growth. Thanks to the expansion of Internet penetration and use of mobile devices to shop, online retail sales are predicted to rise despite the logistics difficulties of the multi-island nation.
Though the population of the Philippines is the second largest in the Southeast Asia region, its share of retail sales compared to other markets is low. However, the young population and growing middle class, couple with increased Internet connectivity especially through smartphones and government initiatives are combining to prepare the way for rapid growth. The yStats.com report includes forecasts of the Philippines surpassing Singapore and Malaysia in total online retail sales by the middle of the next decade.
Philippine Internet connectivity spurs online shopping.
Internet connectivity reached well over half of the Philippine population last year. With the growth in web connections through smartphone, well over half of online shopping in the country was done through mobile device in 2018, as cited in the yStats.com report. Shopping through social media is becoming more popular, with Facebook reaching the rank of third most used site for online purchases of some products.
Regional merchants dominate Philippine E-Commerce
Online shoppers in the Philippines have made two Singapore-based platforms the most popular sites for purchases. Lazada and Shopee were also the top two most used shopping applications in mobile commerce. The yStats.com report lists other merchants in the top five players as Zalora, Argomall, and eBay. Lazada and Zalora have recently announced plans to establish new distribution centers in the Philippines to help overcome the poor logistics infrastructure of the geographically dispersed nation.
For further information, see: https://www.ystats.com/wp-content/uploads/2019/08/2019.08.21_Product-Brochure-Order-Form_Philippines-B2C-E-Commerce-Market-2019.pdf
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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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