Filipino e-shopaholics buoy digital economy
MANILA -The e-shopaholics in the Philippines comprise only about 19 percent of Filipinos who buy from digital market places but they account for 47 percent of the total e-commerce purchases in the country.
A study by logistics companies Ninja Van Philippines and Geopost showed that these e-shopaholics- avid online shoppers- were driving the local digital economy by buying products under several categories often from digital market places.
“Well-versed in the intricacies of online shopping, e-shopaholics have much higher standards than your average e-shoppers – from the initial browsing to receiving the parcel after the clicks and taps – each stage is essential to ensuring an e-shopaholic’s loyalty,” Ninja Van chief commercial officer Sabina Lopez-Vergara said.
The majority or 86 percent of Filipino e-shopaholics, who buy twice as much as average shoppers, purchase items directly from social media.
Most of these were from brands they already know but some are still open to buying products recommended by social media influencers.
Top categories are beauty and healthcare, fashion , as well as small furniture and home decors.
In Southeast Asia, 15 percent of online shoppers were categorized as e-shopaholics, accounting for 45 percent of the total e-commerce purchases.
The study noted these frequent buyers were spending an “extensive amount of time on product research and consumer reviews across multiple platforms,” including Facebook, Instagram and TikTok.
“Once you have an e-shopaholic’s trust, not only will you get a loyal customer but also a brand advocate who will refer your shop to their network of friends and relatives,” it added.
The study titled “What’s next for the future of e-commerce in Southeast Asia” was conducted among 9,000 participants across Singapore, Malaysia, Philippines, Indonesia, Thailand and Vietnam.
According to logistics solutions provider Locad, the Philippine e-commerce market is expected to grow by about 15 percent this year to $16 billion in terms of gross merchandise value (GMV) from $14 billion in 2022. The projection, if realized, shows exponential growth from just $3 billion in 2019.
Across Southeast Asia, e-commerce GMV is estimated to reach $153 billion this year from $131 billion in 2022.
Locad CEO and co-founder Constantin Robertz earlier said that e-commerce platform Shopee was still the most preferred online marketplace in the Southeast Asian region. Lazada, meanwhile, has the highest spend per shopper at P2,500.