With the ongoing pandemic bringing a “broad, deep, and irreversible” shift to online for businesses and consumers, e-commerce platform Shopee has outlined three key predictions for the Philippine e-commerce market.
The Department of Trade Industry (DTI) rolled out on Friday, Jan. 29, its e-commerce roadmap, eyeing the sector to value at P1.2 trillion or sharing 5.5 percent of the economy by 2022.
Homegrown shopping site VeMeBro will be using “speed” in delivery to break the virtually duopoly controlled by industry giants Lazada and Shopee over the country’s booming e-commerce industry.
A study funded by the Asian Development Bank and conducted by state think tank Philippine Institute for Development Studies (PIDS) said regulatory frameworks must be in place to ensure that consumers are protected in the platform economy.
Shoppers spent a total of more than 420 million minutes on the platform, while consumers also launched the app an average of 7 times per day, which is twice compared to a normal day.
A recent online survey conducted by online payment firm PayPal revealed that 87% of Filipinos who were polled have increased their usage of digital payments during the pandemic, and 9 in 10 preferred to digital payments over cash during this time.
