Thailand
Philippines e-commerce to grow to $12B
The Philippine e-commerce market is expected to grow to $12 billion by 2025, e-commerce solutions provider Etaily said.
“On a standardized level, I would use the forecast which everyone…clearly pointing out that by 2025 the Philippine e-commerce market can be at $12 billion talking about the entire developments of the region which is even higher,” said Etaily co-founder and chief executive officer Alexander Friedhoff in a webinar on Tuesday.
“But of course due to the pandemic, this accelerated significantly. So, we can definitely say that the developments due to the pandemic will be even going in a significantly higher direction,” he added.
Etaily currently provides brands with a one-stop, omni-channel solution to help them sell virtually.
From content production and channel creation to warehousing and fulfillment, Etaily offers services encompassing anything brands would need to attract consumers, transact online, and deliver their products.
Friedhoff said that with the rapid growth of e-commerce, digitization of retail is now a must.
“Digitization of retail is no longer a nice-to-have, but rather an absolute must,” he said.
“Many retailers and vendors are struggling to navigate the increasingly complex and competitive e-commerce landscape, lacking the infrastructure, resources and experience needed to design and sustain complementing online and offline channels,” Friedhoff added.
Friedhoff said Etaily recently secured $1.6 million from a round of seed funding led by Ayala Ventures, Foxmont Capital and Magsaysay Logistics. Additional investments also came from Anthony Oundjian, managing director of Boston Consulting Group and other renowned investors.
He said the fresh funds will be used to improve and expand its operations.
“Etaily is here because we can create in the Philippines and beyond a seamless integration of online and offline experiences that will prevent the retail apocalypse that is happening in the US and in Europe,” he said.
Etaily Chief Commercial Officer Toti Wong said Etaily aims to provide e-commerce solutions that allow Filipino retailers to choose whether they want to serve their customers from Etaily’s warehouses or from their offline store network.
“Being an e-commerce enabler means we make it easy for buyers to purchase and sellers to market. We don’t just give clients the tools that they need to service their customers but we empower them to grow their business,” he said.
Source: https://www.manilatimes.net/2021/08/18/business/corporate-news/ph-e-commerce-to-grow-to-12b/1811396