The Philippine economy is growing steadily, and there is a construction boom in urban areas. Under the Duterte administration, large-scale infrastructure development such as subways, railways, and highways is underway.
Furthermore, the Duterte administration has set long-term goals to support the development of e-commerce, including internet spes, online payments, and delivery. The goal is to achieve 25% of GDP from the e-commerce market. Moody
‘s, a US company, has given the Philippines a high rating, saying, “The Philippines is a ‘rising star’ in Asia that will outgrow most countries in the world in the future.”
■ Filipinos love shopping
The main reason why the Philippines is australia whatsapp data attracting the most attention in Southeast Asia is because it is one of the world’s leading consumer nations.
Filipinos tend to be spendthrifts and have little savings, and recently crit cards have become increasingly popular in central Metro Manila. And the people’s strong desire to buy is a great opportunity for the EC industry.
■ Filipinos are pro-Japan and highly value Japanese products.
The Philippines is the most pro-Japan country in Southeast Asia. According to a survey conduct by Aung Consulting Co., Ltd. in 2017, 82% of Filipinos answer “I love Japan” to the question “Do you like Japan?”
Furthermore, Japanese products are also highly favorable. Japanese products alone have a very good image of “high quality, safety, and security.” It can be said that the Philippines has an environment that makes it easy to sell Japanese products.
However, there are some risks to be colin chu aware of when selling products through cross-border e-commerce in the Philippines. Although the desire to buy is still high, the Internet infrastructure and other factors are not keeping up with demand.
The key points are summariz below.
■ Payment issues
Crit cards are not widely us A barrier to the development of e-commerce in the Philippines is the problem of payment.
As shown in the figure below, the spread of crit cards is slow. As can be seen from the proportion of bank transfers, the spread of bank accounts is also slow.
Only the wealthy and some of the middle class have crit cards and bank accounts.
■ The logistics system is still developing
It is common for Philippine deliveries united kingdom cell number to be made using private logistics companies. Representative companies within the country include LBC Express, PHL Post, 2GO, and Air21.
For deliveries from overseas, there are international courier services such as BalikbayanBox, DHL, and FEx.
The problem is that while delivery services to urban areas are improving every day, delivery is difficult and expensive outside of urban areas, resulting in delivery disparities.
In addition, there is constant traffic congestion in urban areas, and it is an issue to see how much this will improve under the Duterte administration.