Driving the explosive growth of ecommerce in the Philippines

Update on 15 Nov, 12.01PM: Updated list of speakers

The ecommerce sector in Philippines is in a unique situation. On one hand, it is undoubtedly poised for massive growth – Google and Temasek have forecasted for Philippines’ ecommerce market to reach US$9.7 billion by 2025 (from just US$0.5 billion in 2015), outsizing Malaysia, Singapore, and Vietnam.

Despite the rosy outlook, the country is still impaired from achieving its full potential in ecommerce. For a start, it has one of the slowest internet speeds in Asia Pacific, and low digital payments penetration as a result of consumers being plagued by security concerns, amongst many other challenges.

To accelerate the growth of Philippine ecommerce, the Department of Trade and Industry launched it’s first-ever Philippine E-Commerce Roadmap 2016-2020. The roadmap collectively addresses the country’s blockers to ecommerce success, with hopes for the industry to contribute 25 percent to the Philippines’ GDP by 2020.

MSMEs need to keep up with the changes

This roadmap cements Philippines’ commitment to maximising its ecommerce growth, and is good news for the country’s micro, small, and medium enterprises (MSMEs), which make up 99.57 percent of businesses.

However, as much as government efforts are crucial in building the foundation for success, MSMEs too have their part to play, and education will be a key component.

Businesses need to be aware of the various sales channels available and be open to market developments. This also means willingness to try out new technologies amidst low but growing internet and mobile penetration to keep up to date with consumer patterns. Improving website and payments security is yet another important facet to build trust between businesses and consumers.

Get a slice of Philippines’ burgeoning ecommerce pie

With the explosive growth potential in ecommerce and steps in place to overcome infrastructure challenges, these mark exciting times for the industry.

To help businesses harness these opportunities and stay ahead of the curve, QuadX – an experience innovation company specialising in cross-border digital logistics and payment processing – in collaboration with Tech in Asia, will be hosting an event this 22 November.

Attendees will have opportunities to network with local entrepreneurs and stakeholders, as well learn about:

• How to leverage technology and adapt your organisation to better serve your digital-savvy customers
• How to digitise and optimise your company’s processes, as well as improve customer experience
• Ecommerce opportunities and challenges in the Philippines through topic experts from Facebook, eBay, CMG Retail, Medusa Luxuries, and QuadX

This event is free to attend, and dinner will be provided. Click on the button below to register your interest no later than 16 November. As this is an invite-only event, successful applicants will be notified via email.

Event Details

Date: 22 November 2018 (Thursday)
Time: 6pm to 10pm PHT
Venue: Makati Shangri-la hotel, Isabele Hall A