21 March 2017 – Two (2) young economists from the Philippine Competition Commission (PCC) presented their country study on the Philippines during the Symposium on E-commerce, ASEAN Economic Integration, and Competition Policy and Law last 16 March at ISEAS Yusof Ishak Institute in Singapore.
Policy Research Officer, Mr. Shanty Aubren T. Prado, and Senior Technical Assistant, Ms. Meg L. Reganon, assessed that e-commerce in the Philippines is at a nascent stage but still shows promise.
According to their study, PH has a large and growing number of internet and mobile phone users, which provide the right conditions for e-commerce to further develop in the country.
Citing figures from World Development Indicators 2017, they found out that in 2015, PH had a 40.7% internet penetration, while mobile cellular subscription was at 118.26%.
Using data culled from Euromonitor International 2016, Prado and Reganon reported that retail via internet in PH increased from P12 billion in 2011 to P28 billion in 2016, although its shares against store-based and other channels are still relatively small.
Meanwhile, in the travel sector, online airline bookings, in particular, surged from a yearly average (2010-2015) of P172 billion to P268 billion in 2015 only. For the transportation sector, online car rentals increased from a yearly average (2010-2015) of P147 million to P212 million in 2015 only.
Their findings corroborate the over-all view for ASEAN, which has a collectively large market for e-commerce but still has much room to grow. This rosy outlook for the ASEAN and the Philippines in e-commerce is shown by the active presence of various online business platforms, such as Lazada, Grab, Airbnb, among others.