Increase of online shopping and an access to online banking transactions is now an evolving way of paying method in the Philippines. Entrepreneurs are turning to online payment as an easier shopping and buying method. However, it concerns security, and limiting of cash-based society. Globe Telecom and the Philippine Long-Distance Telephone Company data shows that there are 134.6 million mobile subscribers in the Philippines. (Globe Integrated Report & PLDT Smart Full Year Results, 2018) Most Filipinos access online through their gadgets providing consistent access and effective cost.
Philippine and other countries businesses put up products and services through gadgets that primary fits to online buyers or customers. The fastest developing app market place in Southeast Asia is the Philippines. The proliferation of online applications and social media contributed to the development of digital marketing. The strong improvement trends continue as there were 76 million Filipino online users last year (2018). Traditional marketing companies come up with recently marketing plan that take up with the use of social media and the internet.
Businesses are continually transitioning to digital marketing to reach more and an even market for potential buyers and customers; this is a best and developing trend. (CNN Philippines, 2019)
Nowadays, laptops are lighter and also come with new operating systems designed to function efficiently and quickly, therefore, anywhere marketing can be done. Data can be analyzed with just a laptop and reliable internet connection on the beach, a survey can be taken on a tablet and a power point can be reviewed from a cellphone. As a country with traffic jams that take hours and insufficient infrastructure, being able to spend or use your commute time to close agreement and refine marketing materials will play crucial and vital role in development and improvement.
The Philippines, classified as a lower-middle profit economy, is not on the uppermost of the ultimate current trends in nominate of technology. However, thanks to a developing economic sector, increasingly accessible new technology, global network of partners, we are now catching up fast. These leaps and bounds mean that we have now enter to smart and modernistic tools beginning from education, marketing and even business operations. The three main ways that technology is launching marketing in the Philippines are evolved tracing, revisable and elaborate well-favored, and revise in portability. (Versatech International, 2018)
The industry of e-commerce is having more ground as marketplaces for digitals end last 2018 with high records to reflect the increasing number of Filipinos buying products from online. According to the Internet World Stats report, around 67 million Filipinos were active online last year on January 2018. This was a 12% increase year-on-year. In terms of amount of time spent online and social media use Philippines rank first among all. Entrepreneurs believe this makes the country a suitable and an ideal place for e-commerce to innovate and thrive. The consistency of the growth of e-commerce in Philippines can be accredit to the comfort brought by expertise-digitals shoppers. This perspective inspires entrepreneurs to take their businesses or even start their own business online as they enter the year of 2019. (CNN Philippines, 2019)
Filipinos online visits the internet to shop the things they need because of some comfort it gives from numerous payment options, not lining up in checkout counters to and service deliverythat traditional stores cant. In Addition, the capability to find the best promos or offers prices that access to products over what is locally obtainable are supporting the excitement of connected Filipino consumers to start online shopping. E-commerce platforms are less difficult providing these comfort and bonuses that results to boost the growth of shopping online. The leading purchase platforms are Shoppe and Lazada throughout, bags and accessories, shoes and apparel, beauty products, and FMCG. In addition, the emerging third most popular platform is Facebook. As Internet connectivity develops with the convergence of the accelerating need for comfort and with traders only improving at offering promos and deals, methods in paying and delivery to attract more Filipinos to start shopping online, e-commerce in the Philippines is innovating and setting up for growth and evolution. Therefore, it is significant for retailers and manufacturers who are finding to finance on the chance of e-commerce to understand consumers online behavior and habits and usage, as well as whats driving e-commerce adoption. (The Nielsen Company, 2019)
Consumers of all demographics and ages now use online resources for data and facts and retail merchandise and offerings. In consequences, businesses without an online presence will suffer. Whether it is thru the use of blogs, or creative social media content or even advertisement editorial, the presence of digitals is important in having customers favoring your own store or even your own brand. Different from sustaining the presence of online, influencing eCommerce is a current incline trend retail organizations and businesses cannot ignore. Last 2016, the Philippine Department of Trade and Industry established a program to innovate eCommerce, with the goal of it having 25% GDP of the Philippines by 2020. Business owners in the Philippines can hugely accelerate sales by adding more online sales channels. Generation succeeding Millennials and involves people born from the mid-1990s to mid-2000s are called generation Z or gen Z. Growing up with digital technologies, the social media and internet surrounding them from an early and young age, generation Z will turn to the outsize consumer group by 2020.
With more disposable profit than ever, their practices in spending will make the retail industry over the future years. Retailers and mall operators are currently marking this Filipino demographic to fund on their own capability of spending. While online shopping whopper gives delivery to buyers and customers from and all over the globe. Presently, consumers are hoping for this kind of in-home service from all retailers. Local businesses, especially groceries, are turning back towards the traveling salesman idea and offers buyers an in-home drop in to hand over product consultancies, information or even help setting products. From cashier-free checkouts or self-service to loyalty gazebo, we have only experience exterior side of using mechanization in retail. New technology is making mechanization achievable in many places of the retail sector. This customer-friendly come up to buying or shopping will lessen the responsibilities on retail staff and employees as well as improves buyers and customers own experience. With huge volume of data at their discarding, retail businesses are able to suggest higher levels of incarnation to buyers and customers. Trademarks edit suggestions, personify up-selling or cross-selling, or even use it to send personified marketing communications. It will support buyers and customers and can sense that they can feel unique and upgrade their shopping experience. For retailers, their coming future will be splendid and will glow if businesses adjust ahead with elaborate and current trends. In order to remain competitive, retail businesses should be ready to change their approach to selling. Whether it means re-evaluating a store format or implementing new retail technologies, businesses should remain abreast of retail trends in order to stay relevant and to continue to put the customer first. (Versatech International, 2018)
These days, the E-commerce industry in the country is still on its infancy stage but we cant veer away from the fact that this developing country holds a promising future if it can leverage its strengths to establish a strong foundation for this industry. One thing that most Filipinos is proud for is their adaptability to change. Although, these Southeast Asian countries are not as privilege as other countries like US, Singapore, and China to first develop or test newly invented devices, Filipinos are known to quickly adapt to changes in technology once they have entered the country. The fast adaptability of Filipinos when it comes to technology is a welcoming fact for E-commerce industry in the country. Filipinos are quickly adapting to how the western products are market locally and online. With Lazada.com, Ensogo.com.ph and Metrodeals.com, more and more Filipinos are becoming inclined to E-commerce and with the market expanding; it is not surprising to see the investors for online markets flocking in the country. Filipinos are one of the most coveted professionals in the technology industry. They are considered to be among the most hardworking, efficient and skillful professionals in the international market. Though, with fewer supervisions and training, Filipinos are known to harness their skills on their own and using their own resources which can be beneficial for businesses in the e-commerce industry. The e-commerce industry in the Philippines needs a workforce that can work efficiently. It is not new that the country lacks resources for start-ups but with fast and competent professionals working for online market industry, developing e-commerce businesses will be less difficult. Perhaps, we are all well how social media plays a crucial role in online commerce. The Philippines being known as the social media capital of the world has big chances of bringing positive impact to e-commerce industry of the country. Social media and e-commerce works together in yielding businesses in a broad and wider market. (Al Gomez, 2015)
Many of unbelievable objects are now enclosed with the access of our hands, such that the New Millennials are advocating the equal eagerness like persons from Renaissance Period, wherein we’re unleashing modern and mind-blowing technologies that will drive us towards an optimistic and bright future. We can now shop and buy even just in our own house. Just one mobile device or gadget can function as our tape recorder, camera, Walkman, computer, telephone, PDA or knowns as personal digital assistant, and many more to list. We are now living in electrifying days, and a small business shall grasp the maximum benefits of this bold, modern new world. If you have a small business settled in the Philippines, whether if you’re a local citizen or a nonnative or foreign investor whose excited to step into the fray of enterprising, you shall hold the full benefits of recent, modern and new technology for your own advantages, if you desire to be in top of the trend. Small businesses are continually gathering the advantages of the new and mind-blowing modern technological tools and wonders such as the Internet, shopping online, virtual offices, web compensation solutions such as PayPal, and a complete server of other uses that has indeedly invented the routine of initiating a company and it is cheaper these days than it was years ago. Technology has genuinely stand itself the same as the recreation ground for SMBs or known as small-to-medium businesses. Greater companies are forming the association between evolved business behavior and solid IT investment, in that they’re straightway constant to each other (the more IT investments you establish, the more effective your business competence in the upcoming years). The Internet has evolved greater than a niche spot for programmers to access and enter computers; it’s become “mainstream”, and many of tremendous corporations hang on its credentials to thrive and prosper. (Valerie Wong, 2014)
In the Philippines, e commerce is mainly being applied by respectable retailers and foreign corporations for bank-to-bank trade. A figure of Business-to-consumer deals have evolved throughout the years like online shopping, auctions, and online banking (Lacson, Pasadilla, 2006). This displays that Filipinos businesses embrace this recent and modern chances and trading products back ago 16% of the population is applying the usage of internet. This recent and modern marketing system will not only advantage those huge companies but also the small business who cannot pay to promote their own goods. As easy as making a website in a cheaper price could result to the improvement of the business in terms of sales and also increase the companys own concept. Businesses in the Philippines have eventually completely chosen the ability as e-commerce that can benefit them to race domestically or even globally markets. In the progress of getting themselves ready to manage e-commerce, these businesses will be evolving the ways they practice business. These improvements are hoping to look forward on having an effect on the interest of Filipino laborers. Labors to scale the economic outcome of e-commerce-involving those on laborers interest -have based in the EUROPE and US, who are knowned to be the primary conductor or leaders of e-commerce.(Roberto,2002) Overall, it tackles the evolved in the complexion of labor from the anterior to exterior office is suitable within the sectors performing services employment and application demand for these industry. They may be based faraway from agents and blue collared laborers, going towards higher administration and management and administrative staff. As Filipinos welcomes the 21st century, local e-commerce trading extent up to reached Php 1 billion. It proves that there is at least one billion increase of trading sales yearly. If this approach sustains, integers can extent up to Php 20 billion as more business manage and operates online dealing and transactions. If meaningful economic growth takes place in the following 10 years, these caculates may even double or triple (Toral,2004)
One unquestionable advantage of e commerce is its capability to lessen deal fees. For both consumers and buyers, this is more doubtless to hold the figure of less search fees and more useful facts and datum all about the goods and its values. There could be extreme savings in terms of labor or output and delivery fees of electronic and also digital products. (Lee, 2006)