If you enjoy shopping online, you would know that there are many others who are into it as well. In fact, the Visa eCommerce Consumer Monitor has found that the local e-commerce industry in the Philippines has been growing quite rapidly. The study also revealed that the top three reasons why Filipino consumers like online shopping are convenience, price, and deals.
So let us examine these one by one.
Convenience is at the very top of the list of what Filipinos like about online shopping. Indeed, you can easily find almost anything you need online. Whether you are looking for a mug, a watch or even a washing machine for sale, a simple search in an e-commerce website will give you a wide range of products to choose from. You can pay online and have it delivered right to your doorstep as well, all without physically going anywhere.
It is not only the product choices too. In most online shopping platforms, you can also pay for prepaid load, gaming credits, shop and restaurant vouchers, travel bookings, and even different kinds of insurance.
When shopping for anything online, it is much easier to compare prices without having to go through different sites. This is a lot more convenient than shopping physically where you would have to visit shops one by one just to compare prices.
Since comparing prices is easy in online shopping, buyers could easily choose the most affordable products. Sometimes, the products sold online are generally cheaper than their counterparts sold in physical stores.
This might be because running a physical store can cost a lot. For example, the merchant would have to rent the place, pay for utilities, and hire employees for their physical store. Retailers with physical stores also have to pay for government paperwork and taxes. The products they sell should then be priced such that the sales could cover their expenses. Operating online costs much less, since, aside from the products, the merchant would just need an internet connection, good photographs of the products and a reliable courier service.
Visiting the physical store to buy something would also cost you as a consumer. You might have to pay for commute or gas and parking if you are driving.
Sure, physical stores also give discounts and sales, but so do online stores! Similar to shopping malls, online shopping platforms also conduct payday sales, anniversary sales and holiday sales. There are also the occasional surprise sales or deals and loyalty rewards.
Popular online shopping platforms in the Philippines frequently give out vouchers that can be used for all the products in the site or app too. On top of this, some online stores in those platforms also issue their own vouchers applicable within the store. These vouchers are typically for product and delivery discounts (or even free delivery deals) but there could be vouchers for other perks as well.
Despite the recent boom of online shopping in the Philippines, a study by Research Tech Lab (RTL) found that Filipino consumers still prefer buying from physical stores over online shopping. Whether you agree with this study or prefer online shopping yourself, remember to make sure that your transactions are secure and that you are getting what is best for you.