With more than 86 million active online users, the Philippines’ ecommerce industry is continuously on the rise. The country’s eCommerce market reached $17 billion in 2021 and is expected to increase by 17% by 2025. The global online retail sector is also projected to go beyond $6.35 trillion by 2027, and it is no wonder that businesses are gravitating towards eCommerce to boost their income and consumer base. The question is, are you ready to ride the wave?
What’s Driving the Growth of eCommerce in the Country?
The swift growth of the online retail sector in the Philippines is massively influenced by numerous integral and dynamic factors.
- Huge internet use in the Philippines
- The COVID-19 pandemic increased Filipinos’ reliance on the internet for studying, working, and online shopping.
- Gen Z and millennials spend more than ten hours online daily 4+ hours on social media.
- The young population with a median age of 25 contributes to high internet usage.
- Significant use of mobile devices
- Mobile devices drive increased access to online stores and online retail transactions.
- More than 36 million Filipino adults own a mobile device, aiding high internet usage.
- The impact of the pandemic on eCommerce growth
- More than 73% of Filipino consumers plan to continue or increase their online shopping.
- Live stream selling became widespread on numerous platforms.
- Brands expanded their online presence, and new online sellers emerged.
- The COVID-19 lockdowns drive huge growth in eCommerce.
eCommerce as the New Frontier for Filipino Businesses
You see, the country is poised for substantial eCommerce expansion with increased online-savvy Filipino users and growing smartphone usage. Online shopping provides unparalleled convenience, various products, and competitive prices.
Recognizing the potential of eCommerce, the Philippine government established the Electronic Commerce Act (Republic Act No. 8792) in 2000 to support regular online transactions and encourage a safer environment for merchants and consumers.
That initiative was reinforced by the Philippine eCommerce Roadmap 2016-2020, which outlined strategic policies and plans to maximize eCommerce benefits.
More and more consumers are embracing digital platforms. Hence, businesses should build a robust online presence to gain a competitive advantage.
Nonetheless, eCommerce isn’t only about building an online store. It requires a comprehensive understanding of digital marketing strategies, consumer behavior, and the technological landscape.
This is where Kapwa Marketing steps in, providing expertise to navigate such complexities.
The Crucial Role of Digital Marketing
As eCommerce grows in the Philippines, so does the importance of a strategic and efficient marketing approach. Standing out in this crowded marketplace is challenging, especially with hundreds of thousands of online stores already competing with one another.
Digital marketing agencies like Kapwa Marketing have the expertise and knowledge to build and implement strategies tailored to a business’s unique goals and needs.
We as Cebu-based agency go beyond conventional eCommerce solutions. We deeply understand the complexities of managing an online store and provide comprehensive service to guarantee your eCommerce venture is flourishing.
On top of that, Kapwa Marketing takes a holistic approach that enables you to see the bigger picture. We will help you establish innovative, well-rounded, and effective digital marketing strategies. Such a comprehensive strategy paves the way toward success and growth in the digital world.
Ready to Bring Your Business to the Next Level?
A holistic and strategic digital marketing approach will be central to staying competitive as businesses in the Philippines shift their future toward eCommerce. Remember, having a strong online presence won’t be just an option but a necessity for your business to thrive.
Contact us today to learn more about how our digital marketing services can help you expand your business capabilities.