Report shows robust potential of e-commerce in PH

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Young Filipinos — E-Commerce Report,? from analytics firm ThoughtBuzz. Philippines eCommerce 2014 Thoughtbuzz Infograph The report, which was released on Thursday, June 12, analyzed the social media conversations around the e-commerce industry in the country for the first quarter of 2014. The report also showed that products/services (78 percent), customer service (15 percent), and promotions (4 percent) were the top three topics discussed by young netizens across the Philippines. Conversations regarding products and services (79 percent) dominated online discussions, with focus on airlines/travel, entertainment, and cab rentals. Other topics such as promotions (4 percent), customer care (15 percent), payment (1 percent), delivery (1 percent) and general buzz (1 percent) like corporate news and business extensions also attracted the interests of netizens. The presence of e-commerce sites such as Zalora, OLX, and Lazada, which draw in thousands of customers each day, indicate a rising trend in the industry, the report noted. ?More companies are eyeing the e-commerce industry to reach out to their target markets,? the report indicated. Netizens focused their discussions more on products and services (79 percent) rather than the experience after the purchase, indicating that product selection and the positioning of deals and packages offered is the key factor in driving purchase intent, more so than delivery or even promotion. The study showed that although netizens are aware of online stores, they are hesitant to make purchases because of issues of credibility. The reputation of the companies is a critical factor for customers when making their purchasing decisions, it noted. ThoughtBuzz also examined online chatter on e-commerce in Singapore and India. Across all geographies, the prevalent topic that led online discussions was product and services. With more competitors in the market, netizens are tuning into discussions online to make comparisons on product lines and prices, the report said. ?The e-commerce study showed that companies need to take to the digital sphere and adopt a multi-channel approach, providing both in-store and online retail experiences to connect to customers wherever they are,? said Ashok Patro, chief operating officer of ThoughtBuzz. ?There also needs to be a further focus on the youth. The youth are defining the change. They are the key people generating the most buzz about e-commerce as compared to any other age group.? ]]>

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