E-commerce market size in the Philippines 2015, 2019

The Philippines' e-commerce market size was valued at three billion U.S. dollars in 2019 and was estimated to reach 12 billion U.S. dollars by 2025. It was forecasted to quadruple its size in six years.

Key trends in the e-commerce market

  The most common forms of e-commerce in the Philippines were B2C and C2C models. In a B2C model, online consumers are offered competitive prices because of the unlimited marketplace. From a business owner perspective, it lowers their cost of doing business; hence, it enables them to reduce the transaction costs for customers. Through this model, a personalized relationship between the company and the customer is facilitated. On the other hand, a C2C model allows a customer to buy from another customer using a third-party business.

In 2019, the leading B2C e-commerce websitein the Philippines was Lazada, with approximately 25.2 million web visits monthly. At the same time, the most popular C2C e-commerce website was eBay, with monthly web visitors totalling around 863.6 thousand.

Challenges faced in e-commerce

  Although e-commerce has an undeniable potential to grow in the Philippine market, some setbacks have hindered its expansion. For example, slow internet hampers an online transaction, and Filipino consumers tend to pay by cash. In a recent survey conducted in the Philippines, about 47 percent of the respondents stated that they paid with cash for their online purchases, and only ten percent had used their credit card as a payment method in 2019.

E-commerce market size in the Philippines in 2015 and 2019 with a forecast for 2025 (in billion U.S. dollars)*

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Sources

Release date

June 2020

Region

Philippines

Survey time period

2015 and 2019

Supplementary notes

*The market size includes only consumers goods - excludes online travel, media etc..

**Forecasted value.

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Statistics on "E-commerce in the Philippines"

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