What is the status of e-commerce in the Philippines?
People have been eyeing the Philippines as another one of Southeast Asia’s rising stars. Google’s e-Conomy Southeast Asia 2020 reported that the Philippines’ eCommerce market for consumer goods value grew from US$ 3 billion in 2019 to US$ 4 billion in 2020, poised to grow to US$ 15 billion in 2025.
Is online selling profitable in Philippines?
E-commerce as an industry is thriving in the Philippines and it’s easy to see why many Filipinos want to start an online selling business. According to Statista, the revenue for this year (so far) is at US$953 million or about P499 trillion, with an increase of 14.4% year-over-year.
How big is eCommerce in the Philippines?
The Philippines’ e-commerce market size was valued at four billion U.S. dollars in 202019 and was estimated to reach 15 billion U.S. dollars by 2025. It was forecasted to quadruple its size in six years. The most common forms of e-commerce in the Philippines were B2C and C2C models.
Why is e-commerce booming in the Philippines?
The COVID-19 pandemic has increased demand for eCommerce in the Philippines. The rising middle class, high consumer spending, and a young and vibrant, tech-savvy population contribute to eCommerce growth.
Is online selling legal in Philippines?
That means an online business is seen by the government as legitimate as any other brick-and-mortar. And as businesses do, even online sellers are required to issue electronic receipts according to the TRAIN Law.
How profitable is online selling?
Yes, it is profitable to be an online seller! It is just like any other business, any other industry, where you need to take risks and learn on the job. … What’s important is to educate yourself about the online selling medium and set specific goals & limits for your business and work towards it.
How many people in the Philippines use online shopping?
Our latest research shows that the Philippines is home to more than 69 million internet users, while GlobalWebIndex reports that three-quarters of these users aged between 16 and 64 already shop online.
Who are the online sellers in the Philippines?
Top 20 Online Shopping Sites in the Philippines
- Cebu Pacific.
- eBay Philippines.