“Add to cart”: Key e-commerce trendsE-commerce has taken the Philippines by storm following the popularity of online shopping channels that replaced traditional retail and cash-dependent trade. This includes online marketplaces that allow third-party brands, retailers, and individuals to sell products and services through their websites. Brands and retailers have also invested in digital stores replicating brick-and-mortar establishments. Finally, social media channels such as Facebook Marketplace, Instagram, and TikTok Shop allow for business-to-business (B2B), business-to-consumer (B2C), or consumer-to-consumer (C2C) trade.
Across online marketplaces, Shopee was by far the leading e-commerce website in the Philippines as of the 2nd quarter of 2022, generating monthly web visits of more than 70 million. Coming in second was Lazada, with monthly web visits of about 36 million. In 2022, electronics and media were the leading e-commerce segments, followed by food and personal care. However, spending on fashion has seen a higher growth rate.
The rise of e-commerce also resulted in diversifying digital payment methods to cater to a growing share of online shoppers, primarily Millennials. In 2022, mobile wallets accounted for the highest share of payments made during e-commerce transactions, followed by card-based payments. GCash and PayMaya are the leaders in the country's mobile wallet market. Aside from digital payments, buy now, pay later (BNPL) was also seen to gain popularity in the Philippines, with companies such as Klarna, and GrabPayLater, among others, allowing Filipino consumers to pay for their items later. Direct electronic fund transfers or account-to-account (A2A) also started to gain popularity and was forecast to continue growing in 2026.