News & Articles

We Empower Your Business
Through I.T. Solutions!

ECommerce Industry and How It Can Sustain the Philippine Economy

ECommerce Industry: How It Can Sustain the Philippine Economy

As the Philippines slowly transitions to the new normal, many businesses are starting to adapt to the changes. One that is coming out at the top is the eCommerce industry, with the help of eCommerce website development. According to the National Economic and Development Authority, effective and convenient eCommerce is one of the ways in which the country can sustain its economic activities. NEDA Acting Secretary Karl Kendrick T. Chua states that online shopping and marketing platforms will play important roles in the new normal. With the increased use of electronic transactions, it is the method that can improve the struggling economy.

The eCommerce Industry as Key for Survival

As businesses change and evolve to give the best way for customers to shop online, the eCommerce industry holds the key for your survival. More and more companies are looking for services like website development in the Philippines. This is so that they can shift from brick and mortar stores and into online shops. With a 71% internet penetration rate and an average of users who plug in at least ten hours per day, eCommerce development is your solution to stand out amidst the challenging market.

Source: Freepik

No Geographical Barriers

The pandemic has impacted the Philippine economy in more ways than one. That is why to help it stay afloat various businesses are resorting to methods that offer lower costs. In the eCommerce industry, one of its great aspects is the potential for decreasing expenses. This is because there are a variety of factors and costs that affect brick and mortar locations than online shops. These can be utility fees, storage costs and more. With eCommerce, most of these expenses are slashed. Instead, most businesses will be focused on looking for a web development company that can give them efficient websites for smoother business operations.

Moreover, eCommerce websites allow customers to do their own research and find their preferred products themselves. This independence is something that attracts most customers in this industry. Not to mention also that, changing the shopping experience to an automated system decreases the costs and at the same time reduces margins of error for easier scaling and streamlines processes.

Incur Lower Expenses

The pandemic has impacted the Philippine economy in more ways than one. That is why to help it stay afloat various businesses are resorting to methods that offer lower costs. In the eCommerce industry, one of its great aspects is the potential for decreasing expenses. This is because there are a variety of factors and costs that affect brick and mortar locations than online shops. These can be utility fees, storage costs and more. With eCommerce, most of these expenses are slashed. Instead, most businesses will be focused on looking for a web development company that can give them efficient websites for smoother business operations.

Moreover, eCommerce websites allow customers to do their own research and find their preferred products themselves. This independence is something that attracts most customers in this industry. Not to mention also that, changing the shopping experience to an automated system decreases the costs and at the same time reduces margins of error for easier scaling and streamlines processes.

Source : Freepik

Increasing Government Support  

The Philippine government has recognized the importance of the eCommerce industry in the economy. This is clearly seen during this pandemic where most businesses have turned to online shops for their products and services. They have always seen how essential it is as they have developed the Philippine eCommerce Roadmap 2016-2020. Its goal was to get online business activities to make up for 25% of the country’s GDP by 2020.

Although recent reports state that the lack of data has hampered this roadmap, the Department of Trade and Industry is doing its best to tackle the problems. Under this roadmap, the government is hoping to boost eCommerce in the country. This is by making the MSMEs, which make up 99.6% of Philippine enterprises, benefit from the initiative. Other ways that the government is showing its support is also through the passage of the Financial Consumer Protection Bill. This will help in protecting financial consumers under preferable conditions.

Rising Popularity of Digital Technology

The Philippines is home to a population of more than 107 million people, at least 38 million have access to the internet. Most of them are tech-savvy Millennials and Gen Z consumers. For this reason, digital technology has been rapidly growing in demand. Most consumers are avid users of the internet, and unsurprisingly, eCommerce is popular. Most prefer to browse websites and do online shopping. Also, businesses like Lazada and Shopee are gaining prominence. That’s why many companies have also felt the need to get services such as website development in the Philippines. In this country, it is a method that will give you an edge against competitors. Through web development, businesses can gain more customers because it helps create a professional website. This site can convert traffic into paying customers, mainly because it has the necessary features and better visibility on the internet. 

The eCommerce industry in this country holds a lot of potential for growth and development. According to research, in the ASEAN region, the Philippines has one of the highest eCommerce growth. Thus, this is the time for your business to get an eCommerce website. So, set up an advantageous digital storefront that can reach your target market without any hindrances.

Adam Tan

About 

Adam is a charming geek who loves his family's Siberian Husky, enjoys the occasional night out with friends and, most of all, lives and breathes new trends and updates about the web and its technicalities. If you want to stay updated with changes or new trends on the web or learn about the technicalities that are involved, he's your guy. He's capable of writing cheesy stuff as well, but he'd rather stick with the manly stuff.

    Find more about me on:
  • linkedin
  • skype

Comment 0

Leave a comment

Related News:

Ready to work with us?Tell us about your project.