E-Commerce in the Philippines is not new. At a summit that I attended, the DTI and private companies presented fantastic statistics. To be honest, the figures alone are impressive, but I think there’s room for a universe of growth. On this post, I am sharing a few thoughts on the E-Commerce Entrepreneurs Summit 2017.
There’s an online community of small buyers and sellers. If someone posts products for sale on Facebook and a friend buys, that is a form of e-commerce. Sure, a vast majority of these transactions over Facebook are small time. But when you add them all up, it becomes huge.
One of the presenters said that there are some 2 million online sellers on social networks. If each seller sells 100 pesos worth of products each day, that is 200 million pesos in total sales. In 30 days, that is 6 billion pesos, and in one year, the total sales is a staggering 73 billion pesos. And all that from the small-time online sellers.
Of course, the figures I gave are not accurate, but it does give you an idea of how big the industry could be.
E-Commerce Entrepreneurs Summit 2017
Before continuing, let me differentiate between business-to-business and business-to-consumer e-commerce.
Business-to-Business (B2B). Think of it as wholesale where a business is selling to another business. The international platforms I have used in the past includes Alibaba and Global Sources. Here in the Philippines, PhilYes is a start-up with a good potential to be the dominant B2B marketplace.
Business-to-Consumer (B2C). As the name implies, B2C e-commerce refers to businesses that sell to end-users or consumers. I think Amazon is the top B2C marketplace in the world, while Lazada is the top B2C business in the Philippines.
Filipinos are among the most connected people in the world. It’s a cultural thing and the evolution of technology has made connecting easier and cheaper. As expected, enterprising Filipinos would buy and sell small items on social networks. As the economy continues to grow, so has the growth of online stores.
It appears to me that there’s no stopping the Philippines. I hope the government could improve the transportation infrastructure and increase energy capacity ASAP. Because of the growth of the business sector, the development of a B2C marketplace couldn’t have come at a better time.
At the E-Commerce Entrepreneurs Summit, most of the topics and presenters were from the B2C sectors, except for PhilYes. While the B2B is a maturing marketplace, I think B2C is in its infancy stage. In the future, I expect to see a summit focusing only on B2C, perhaps held in conjunction with a major trade expo.
Other E-Commerce Companies
One company that is present at the summit was CheckMeOut. I think they have a great business model that should benefit online sellers. A couple of difficulties of online sellers are receiving payments and delivery. CheckMeOut is a good option to streamline both processes.
Another company that I’d like to mention is Payoneer. For freelancers, receiving funds from clients and freelancing platforms are not new. Funds are almost always transferred either straight to the bank or through PayPal. Payoneer can do that too, and at a lower fee.
It’s a good thing I attended the E-Commerce Entrepreneurs Summit. I was having problems activating my Payoneer account, and it was my fault. The company only allows one account per person, and I made the mistake of opening a registering a new one. I met Britzee Capili, Payoneer’s business development manager, who assisted in setting me up.
So, Britzee, thank you so much.
If in case you have not signed up for your own Payoneer account, use this link to sign up. It contains my affiliate link which allows me to earn a commission.
It was the first time I attended the summit organized by Janette Toral. It happened because I was one of the chosen bloggers to cover PhilYes under BlogADia.
Was the summit worth it for paying attendees?
As a businessman, I would say yes. It’s time to STOP the beggar mentality where we expect to have everything handed to us free. For entrepreneurs invested in e-commerce, staying at the top of the game means learning. Also, as important as learning is knowing the state of the industry, which allows one to plan forward.
Could the summit be better?
There’s always room for improvement. For instance, it’s reasonable that the sponsors would talk about their businesses. But having more experts share business tactics makes the summit more valuable to attendees.
Finally, I would love to see the separation of B2B and B2C into separate summits. After all, both marketplaces have different audiences with different needs.