E-commerce market value in the Philippines 2014-2020

The e-commerce market value in the Philippines was valued at 1.1 billion U.S. dollars in 2015 and was estimated to reach three billion U.S. dollars by 2020. Part of the total retail sales in the Philippines was attributable to sales coming from the e-commerce business, and its contribution is forecasted to reach 4.7 percent by 2025.  

Platforms used by e-commerce consumers in the Philippines

  Filipino consumers visit several sites for purchasing consumer products. Among all the online platforms available, Lazada was ranked as the most popular in the country in terms of monthly web visits. The platform not only sells products online but also gives a venue for online sellers to market and sell their goods. Thus, reaching a broader market for online sellers.

Consumers in the e-commerce business

  Convenience, variety of platforms, and faster shipping are some of the reasons Filipino consumers are switching to online shopping. Clothing, footwear, and cosmetics are the most popular products sold online. The majority of consumers in the e-commerce business are from the age group between 25 to 34 years old. However, some challenges still face the e-commerce business, and one of them is the payment system. Even though there are several options for making payments in an online transaction, most consumers prefer to pay cash on delivery.