April 28, 2021 
The eCommerce landscape has witnessed a tremendous growth pattern in the last decade, and this trend is anticipated to gain ground in the future also. Retailers and eCommerce giants who have established their presence in the local market are eyeing to expand their horizons, and explore the overseas customer bases. And, cross border Commerce is paving the way for this shift. A diverse and tech-savvy consumer base and fast growth opportunities make the Philippines in the South East Asian market the go-to country for expanding eCommerce operations.
Apart from this, Statistica reports suggest that the revenue of the Philippines eCommerce market is expected to have an annual growth rate of 16.7% (CAGR 2020 – 2025), leading up to the rise of market volume to US$7,665m by 2025. And, with the online shopper community expected to grow further up to 47.8% by 2025, the Philippines is all set to offer eCommerce businesses a massive boost in terms of sales, and revenue streams.
Now with almost all transactions being performed online, it’s no more enough for retailers to have a restricted presence, either online or offline. They must make provisions to cater to the ever-evolving consumer demands about doorstep product delivery in an easy, quick, hassle-free, and cost-effective manner. And, be it the Philippines or any other nation, online marketplaces and carts present massive opportunities in terms of reaching out to a completely new yet potential customer base in a highly efficient manner.
Here are some succinct benefits of selling on online marketplaces.
Lower Handling Costs
With an online selling platform, retailers won’t have to set up an operational base as in a physical store. This will save them the cost of premises, procuring necessary amenities, and a team of professionals to carry out the daily operations. In the absence of paying for physical stores and with minimal staff requirements, retailers gain both in terms of monetary, and non-monetary benefits by selling online.
A Wider Customer Base
A massive pool of customers who are loyal to the brand is a great asset to any business. While planning to sell on marketplaces and carts, retailers can enjoy greater exposure to their products from a wide base of customers, from across the borders. This enhances the prospects of sales and revenue streams for the retailers.
Data-Driven and Automated Operations
Data-driven insights are key for any modern retailer today for not only meeting but surpassing customer expectations. Marketplaces allow retailers to collect data and derive actionable insights regarding customer purchase behavior, in turn, helping retailers in rehashing their marketing strategy, and eCommerce operations.
Online marketplaces are enabled by cutting-edge automation technologies, which reduces the dependency on manual efforts. This paves the way for higher productivity and ROI for retailers.
Now that the plethora of benefits of selling on online marketplaces like shopee lazada and other online stores is clear, here are some of the top-notch marketplaces retailers must consider to expand their eCommerce sales in the Philippines. you will also know about lazada and shopee are examples of what type of platform.
Lazada
Being the most prominent online marketplace to sell products in the Philippines and southeast Asian countries such as Singapore, Malaysia, Indonesia, Vietnam, and Thailand, Lazada enjoys 25.6 million customer visits a month. Hosting approximately 300 million SKU’s of a diverse range of products, this is one of the go-to platforms for retailers to have a presence in. The ease of navigation, and usage of the platform as well as the amenable terms and conditions make Lazada quite popular among the new eCommerce entrants in the Philippines. The Cash On Delivery model offered by Lazada also makes payment acceptance a lot easier for retail businesses without enduring the hassles of the bank, and financial institution involvement.
Shopee
This most sought-after online shopping destination closely follows Lazada both majorly in the Philippines and other southeast Asian nations. Be it essential products or apparel, electronics, or even pet foods, Shopee is the go-to platform for selling and reselling such commodities. Shopee even offers paid ad services for its sellers without any listing fees for enhancing their brand awareness, and customer reach. However, sellers themselves must put in an effort to remain socially active, render unbeatable customer service by catering to customer feedback/suggestions.
Zalora
This top eCommerce selling platform in the Philippines offers a huge platform for apparel and shoe brands renowned globally to showcase their products to a wide base of shoppers.
Hosting close to 120000 products, this platform comes with a myriad of benefits such as Cash on Delivery payment method, and free returns. These go a long way in building a vote of trust, and a strong repertoire among st the customers.
Amazon
This global biz tycoon has made its presence known in the Philippines market as well. Being the most visited marketplaces in the region, Amazon FBA has allowed Filipino sellers to showcase their products locally as well as globally, expanding their customer horizon.
With a well-defined product listing guideline that is crafted to assist new sellers to set up shop easily, Amazon strives to offer them equal exposure with other competitors, driving good sales for them. The built-in affiliate program of Amazon FBA provides complete assistance to sellers every step of the way from managing their products to shipping them, to even managing their returns. Thus, online selling platforms philippines sellers don’t have to worry about inventory management, manpower costs, and returns. Rather, they can concentrate on staying on the growth trajectory by rehashing their marketing strategies and expanding their product portfolio.
eBay
Being a well-structured and easy-to-use online platform, eBay allows selling new as well as used goods. It serves over 180 million shoppers around the world and with a dedicated Seller Hub, it provides complete assistance to sellers.
Shopify
Retailers eyeing to kick start an online business in the Philippines can immensely benefit from this fully-hosted Shopify platform, which offers sellers a free 14-day trial and a completely streamlined experience. Features such as 1 click up sell, abandoned cart recovery and with thousands of pre-built templates, Shopify facilitates the process of creating an online shop an easy, seamless, and hassle-free endeavor.
Magento
This highly trusted and sought-after eCommerce platform in the Philippines offers unique and customization options for sellers to create their own feature-rich websites, create personalized marketing promotions, provide recommendations, instant purchases, and much more.
Do connect with the experts at Vinculum to explore more about cross border commerce, online marketplaces in Philippines, etc.
