meljun cortes future e-commerce in philippines

8/9/2019 MELJUN CORTES Future E-Commerce in Philippines

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Philippine markets is actually ripe and ready for electronic commerce,

driven by both online and mobile communities. The future of e-commerce

is going to feel a lot like walking into a store 50 years ago. E-commerce is

about to go through a radical transition. And the more online retail

changes, the more it will feel like shopping at your local corner store.

The Future E-commercein The Philippines


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• MOBILE - is one of the biggest trends in the technology industry, and inthe mainstream media. In the last two years, sales of mobile devices

outpaced sales of PCs.

• LOCAL - Companies are focusing on what the customers want locally,like for example, a social smartphone application that shares users photoswith whoever is near them, or internet ready, and with many more

features.

• PERSONAL - Personaliing the shopping experience. !If I decided toshare my identity and location, the online store will greet me by my name

and tell me that my favorites are on sale. "r it will point out ingredients

for the recipe I like. If they are out of an item, they#ll tell me where I can

get it or when they can deliver it to me.

• $orward looking, that is the kind of experience that users should havewhen they shop on line.

Chanes in E-commerce !ue to thecon"erence o#$


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In the next ten years, e-commerce in the Philippines is

visualize to grow dramatically, spur by the rapid use of

internet. Factors driving up Internet use include a highly

educated middle class population and a well-developed

consumer culture. The increasing number of Filipino

expatriates or OFWs has also driven internet growth since

residents of the Philippines see the internet as an affordable

way to keep in touch with them. Also the number of mobile

phone with GSM - Global System for Mobile

telecommunications, SMS - Short Messaging Service, and

MMS - Multi-Media Service has grown sharply in use.


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Business to Business


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As you are already aware, Information technology is the engine that will drive the growth of

economies, not only in the Philippines, but, worldwide through the information

superhighway called internet, and at breathtaking speeds. We are the cusps of a unique

revolution, one which is constructive rather than destructive, and global in scope. Electronic

commerce is at the heart of this revolution. It knows no boundaries, is controlled by no one,

but is shared by all. E-commerce, then, will move real world market closer to the

hypothetical ideal perfectly competitive market. And with e-commerce, there will be potential

for middlemen to be cut out in many transactions. In part, this is what will motivate the drive

to develop B2B, or business to business applications. Also, e-commerce will have a great

potential to streamline the supply chain of firms and reduce costs of procurements. More

importantly, e-commerce will bring together buyers, sellers, and even resources on opposite

sides of the world.


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Tra!itional Retail Mar'et


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The growth of the online market in the Philippines will be far greater than the growth in traditional

retail market. We will be shopping online as never before. The Philippine economy in general is

expected to show signs of recovery. So, growing competition will be one of the main factors to

consider. E-commerce is fast becoming the key long term growth on sustainability of a business.

As more retailers will venture online for the first time, the competition is projected to increase

further. In fact, online marketing experts predict a steady rise in both total online sales and the

number of new retailers venturing into e-commerce. More and more Filipino people will be

shopping on line creating new opportunities for retailers in the internet.

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+eneral !irection o# E-commerce

•M-commerce•Social Commerce

•0i!eos an! Streamline me!ia•Personali1ation

•Increase online presence #or small.usiness


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M-COMMERCE -Mobile commerce will witness one of the highest growth in the coming years. Launch of

innovative tools and third party applications will provide consumers with an even greater choice and

features. The number of mobile internet users will continue to grow exponentially. Use of hand held and

mobile devices for shopping will continue to increase. Major brands will invest heavily to offer new and

improved services over mobile platform.

SOCIAL COMMERCE -Social networking will be integrated further into e-commerce . Research into

consumer behavior patterns in the past few years has already shown positive impact of peer reviews on

purchase division of customers. Peer reviews, ratings, and other forms of user generated content will

continue to influence conversions. E-commerce websites will take steps to integrate social networking with

customer shopping experience. The use of social networking tools such as ‘tweet this’ or ‘post link to

Facebook’ has been widespread since 2009 and has improved tremendously in the last 2 years and will be

further improved significantly in the coming years. User generated content will play an increasingly

important role in e-commerce. Brands will work on integrating social media into online shopping experience

as a tool to increase customer loyalty.


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VIDEOS AND STREAMLINE MEDIA -The future will continue to use video. Video commerce will be integrated

further into the online shopping experience. Customer expectations will increase and brands will respond accordingly.

Internet TV, as well as, use of general multimedia content will continue to grow rapidly. The use of inter-active videos to

promote product, as well as, offer general information will give an engaging online experiences to users.

PERSONALIZATION - Personal services will remain popular. Due to the ever increasing role of e-commerce in the

day to day lives of consumers, businesses will focus on delivering personalized services to consumers. Websites will

offer a more personalized user experience to shoppers. Websites and portals will deliver tailored content and options to

customers in order to offer more enriching and faster shopping experience.

INCREASED ONLINE PRESENCE FOR SMALL BUSINESS -Looking forward, coming years will see a fast

pace increase in online presence of SMEs and small businesses. The past three years have clearly shown that

businesses with strong online presence in their market have continued to do well in spite of volatile economic

conditions. An increasing number of smaller businesses will invest time and efforts to build a strong online profile on

search engines and social media networks.


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Let me say in conclusion, that in the Philippines, like elsewhere in the world,e-commerce, online shopping, and online services will spread in the future,impressively at the ratio it is spreading now. No doubt, businesses, includingbanking and financial institutions will go paperless mostly. People willbecome much more busy and will find it faster to browse in the internet tofind their needed products and services. They will realize the convenience of

online shopping as compared to big and crowded shopping centers.

Hacking, spamming, exploiting, cybercrime, and the like, will proliferate andwill threaten the e-business in the future, but, I am confident that in the sametime, new techniques will be introduced, and laws will be enacted, to prevent,and deter, respectively, these unlawful interferences.


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Than' &ou

#or &ou2r patience

report .&$ Maria 0ictoriaLa3amana

meljun cortes future e-commerce in philippines

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