PH Post 108% Growth in Online Shopping, Based on Recent Study

A joint report by tech conglomerate Meta and management consulting firm Bain & Co. presented the Philippines as having the highest growth in terms of the adoption of online shopping within the Southeast Asian region. The study found that Filipino consumers access 16 digital platforms for online shopping, based on a survey conducted in June 2022. This accounted for a 108% rise compared to the same period in the previous year.

Trailing behind the Philippines were Vietnam with 96%, followed by Indonesia and Thailand with 90% each. Meta and Bain & Co. also noted that Filipino users would have no trouble switching apps if the delivery of other merchants were proven to be faster. Among the online platforms regularly used in the country include e-commerce marketplaces, food delivery, large retailer websites, small online shops, and consumer product categories.

“Consumers across Southeast Asia are doing their shopping at more online platforms than before,” the study affirmed. “This trend further aligns with our findings that more consumers in the region are experimenting with new or different shopping experiences.” However, customer experience remained a vital factor in determining how users approach online transactions. These findings were consistent across Malaysia, Singapore, and Thailand.

Nonetheless, the report still elaborated that “Southeast Asian consumers switched brands mainly for value and product quality.” This entailed that users were still focused on value for money, particularly as the prices of goods continue to increase. Meta and Bain & Co. found that brand switching behavior was more evident when it came to the purchase of nonessential goods such as clothing, electronics, and beauty products.

Source: Inquirer