In the digital age of doing things, medium, small, and even micro entrepreneurs must engage in online activities. The fast-paced digital environment has made business, in general, very competitive. From means of communication to the purchase of goods and services, these daily activities have been made easy through the birth of the internet.
The future of businesses seems promising with the rise of e-commerce platforms in the Philippines. With over 107.3 million in population, and a total of 76 million of internet users, or approximately 71% of the entire Philippine population in the end of January 2019 with a staggering 13% year-on-year increase.
The e-Commerce industry takes a huge percentage share of 90% of the total of the Filipino internet users, which means that a total of 68.4 million Filipinos searched online for a product or service to buy online! Wow!
How about those who actually purchased goods? Did you know that out of the 68.4 Filipinos who searched online for a product or service to buy online, 47.3 million of those actually purchased consumer goods and services via e-commerce.
In 2019, the total annual sales revenue grew to $840 million from $688 million on the previous year, that is a total of around PhP43.6 trillion! These data, supplied by Statista, one of the world’s largest online statistics databases, reflect the increasing and continually growing number of Filipinos doing their shopping online.