The overwhelming majority of small and medium enterprises (SMEs) in the Philippines foresee the continuing boom of e-commerce, reflecting the sentiment towards this new technology and commercial trend by the entrepreneurs that make up the backbone of the country’s economy.
According to a research study commissioned by FedEx Express, a subsidiary of US-based FedEx Corp., 91 percent of SMEs in the Philippines said that e-commerce has become more important to their business.
“SMEs in the Philippines acknowledge the increased importance of e-commerce to their business over the past three years and also believe it will continue to become even more important in the future. They are excited by this and believe that a willingness to adapt and embrace change will drive e-commerce opportunities and result in growth,” read the executive summary of the report.
The same study said that 97 percent of SMEs surveyed said they are excited about e-commerce becoming more important during the three-year period.
The study was conducted online from June to July of this year, including interviews with more than 300 SME owners and more than 500 consumers in 11 Asian markets.
These include Australia, Hong Kong, India, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
The study said that a majority of consumers believe that e-commerce will become more important over the next three years, highlighting its importance in the eyes of shoppers in the southeast Asian country.
It also said e-commerce’s share of consumer purchases has increased sharply over the last three years.