Mobile commerce is rapidly growing in the Philippines.
Euromonitor International, a business intelligence company, suggests that this is because of the growing smartphone penetration in the country. The Philippines is one of the countries in the Asian market that is leading the charge in mobile commerce adoption. This has to do with the growing number of young, tech-savvy consumers that are relying heavily on their mobile devices in their daily lives.
According to Euromonitor International, a digitally-connected population is leading to a major rise in both the Philippines and Thailand. Together, these markets are expected to see their mobile commerce sectors reach $9 million by 2018. In the Philippines, consumers are showing particular favor for online shopping options, especially those that cater to mobile devices.
Another factor is the decreasing cost of smartphones. With these devices becoming less expensive, more consumers are gaining access to them, which is also exposing them to the concept of mobile commerce.
Another reason that mobile commerce is growing has to do with the growing business process outsourcing industry. In the Philippines, more than 1 million people are employed in this industry, many of whom work during the latter hours of the day in order to accommodate international business hours. These people tend to have limited time when it comes to shopping, so they opt to use their mobile devices to make the purchases they need while they are working.
Though still in its early days, smartphone penetration in the Philippines is expected to hit 50 per cent this year. That triples the number of smartphone users in the country, which translates into a lot more money.
Eastvantage | IT Outsourcing | Offshoring Services
For business inquiries email info@eastvantage.com
