Why Is E-Commerce the Best Investment You Can Have Right Now In the Philippines?
I’m seeing bullish signs that this is going to take off beyond the roof.Full disclaimer, I’m into this space too. I’m sharing this idea cause this is happening now and a full boost of demands is going your way.
1.The Cashless System is Coming
Why is this connected with E-commerce? Well, when we become a cashless Country. Consumers will seek more convenience on their daily transactions.Guess what? What will primarily change is the way they buy things for their daily lives needs/want. So if your business is not “ready to buy” online, then you have a problem now and bigger problem soon.
2. Logistics is improving
Philippines is geo -graphically challenged. But we have seen a massive logistics start ups that is making the e-commerce system healthy and alive. We also have seen big logistics company catering cash on delivery and pick- ups services link here http://www.adobotech.net/lbc-announces-cash-on-pickup-and-cash-on-delivery-services/ . No doubt, news and moves like this in a logistics industry is a sign that e-commerce is not slowing down.
3.Offline to Online Stores
I have seen personally, stores are getting more revenue online than offline per day. Why this is happening? Behavioural changes on Filipino consumers, this is because of the major e-commerce players are joining in the market like Alibaba, Amazon, Lazada. We can’t control these changes but just adapt with it.Plus the factor here is a “major” market of millennials will be coming and 6 years from now these will be the majority buyers. Meaning they are the one who can buy cars, who will buy a home, who will buy the needs/wants on their daily lives for their future. Guess what? A big portion of this market will preferred convenience buying it online.
Overall, the industry is projected to grow 4.88 trillion dollars by 2021 and Philippines is one of the most strategic locations to improve e-commerce trades in Asia.Just look at the map advantage for logistics cost, now why I wonder it’s not just the rich natural resources superpower countries after to us. It’s the location too!