Over the past year, eCommerce platforms in the Philippines are experiencing an industry boom. Recent reports show that the country has ranked first in global sales growth. It’s mostly thanks to the effects of the COVID-19 pandemic, which has significantly changed how Filipino consumers behave.
During this time, the consumer-driven economy relied on online shopping platforms like Shopee and Lazada to acquire daily necessities. Over time, it became the norm as modern-day shoppers now prefer finding what they need online and receiving it on their doorstep.
With this trend ongoing, it has become one of many reasons why businesses in the Philippines should consider venturing into eCommerce.
Why PH Businesses Should Transition to eCommerce
As the world grows more reliant on technology, digital solutions like eCommerce businesses are becoming more popular. And yet there are still companies out there that aren't convinced it can benefit them. To help you understand this phenomenon's importance and value, here are some reasons you should switch to eCommerce.
1. Strong government support
In the Philippines, the government regulates eCommerce businesses to show its support for its role in the economy. Since eCommerce has been recognized, the law has aimed to protect sellers and buyers from fraudulent acts and scams. Several regulations have helped improve the eCommerce experience for those who want to enter the landscape.
2. Middle-class growth
For many reasons, the growing number of online shoppers in the Philippines has helped boost the local economy. One of the most notable examples is how it has contributed to growing the middle-class population.
Reports also show that continuous support of Filipinos for the eCommerce industry further boosts the country’s standing and encourages more brands to invest in it.
3. More convenience
Online shopping has become easy for modern consumers to get what they need without dealing with travel issues. With premium services also available, shoppers can have their items delivered as soon as the same day or the next day. As a result, it has become one of the most convenient ways to shop today.
This means that taking a plunge into eCommerce can provide opportunities for businesses to expand their market and cater to customers’ needs more conveniently.
4. Increased sales
A major advantage for eCommerce businesses is that you can keep your platform open 24/7. While you’re away, customers can still access your page and place their orders without difficulty.
All you need to do is pack and ship out their orders while you continuously experience a boost in sales.
5. Expanded sales audience
When you open your eCommerce business in the Philippines, you won’t limit your audience to your local area. Instead, you’d be expanding your reach to other parts of the country, growing your business faster. At some point, you should consider catering and shipping your products out to international audiences.
6. Cheaper operational costs
An eCommerce business will spend marginally less than running a physical store to maintain its operations. Rather than spending money on renting a space, paying bills, and stocking up on inventory, online stores eliminate the need for it.
Now, you can run your business online and reallocate your expenditures to other parts of your company.
7. Easy automation
Establishing an eCommerce business grants you time-saving opportunities in many aspects with the help of automation. Everything, from customer service to order processing, is dealt with quickly using various eCommerce tools and software.
With the extra time, you can do more while focusing on and improving other aspects of your business.
8. Flexible working hours
Running an eCommerce store means that you can set up your working hours according to what you feel is best. Your team can operate in rotational shifts to accommodate seasonal demands and bulk orders. Customers can come and place their orders during the day while your teams organize these items and have them ready for shipment later on.
9. Efficient data collection
Most eCommerce platforms today provide businesses with built-in analytics to analyze their performance. Since you can access this data anytime, you can adjust your strategy and implement changes immediately. You’ll also be able to do other performance checks more easily with just a few clicks.
The Future of Shopping is Digital
Consumer behavior is a constantly changing factor that all businesses need to keep an eye on. Exploring the eCommerce industry is a great way to keep up with modern needs. It’s an excellent way to innovate and boost your brand while creating new growth opportunities.
If you need an eCommerce partner to help you get started, reach out to our team of experts at RUSH!
