PHL e-commerce to grow fourfold by 2025 —Lazada

The Philippines’ e-commerce market is expected to grow fourfold come 2025 as more Filipinos prefer to shop online, e-commerce giant Lazada said Thursday.

Citing data from Google Temasek Report, Lazada Philippines country chief marketing officer Neil Trinidad said the e-commerce sector is seen growing fourfold to $12 billion by 2025 from $3 billion this year and $500 million in 2015.

Trinidad said this is possible since 92% of Filipinos are shopping online.

“Filipinos are one of the most engaged users around the world ... That’s why e-commerce in the Philippines is now entering its tipping point,” he said during the Connectivity Economy forum in Pasay City.

Trinidad said 8 out of 10 or 71.2 million urban Filipinos are online and spend 10 hours a day to access the internet.

“No other country spends that much time online. In fact, most Filipinos spend half of that time on their mobile phone,” he said.

“We have that much scale and penetration, and that’s why we’re really excited,” he added.

During the 11.11 sale last November 11, Trinidad noted that Lazada saw one million shoppers in the first hour alone.

The e-commerce platform sold 13 million diapers.

Trinidad took note that one shopper spent P1.2 million during the 11.11 sale—Lazada’s biggest shopping cart on record. —VDS, GMA News