Electronic commerce will continue to thrive in the Philippines and Filipino shoppers are more even value-conscious now than before.
A survey of pre-shopping portal ShopBack done in February showed 72.3 percent of the consumers spend more time comparing prices now, compared to last year. On average, shoppers spend around 50 minutes comparing prices, with 14 percent indicating that they take more than 90 minutes choosing in between products and website platforms.
Consumers have developed more value-conscious spending habits spending time to get the best deals. The survey revealed that 88.4 percent of consumers usually know what they want to purchase before going online to shop.
Major sales have an impact on browsing behavior. The study found that 79.8 percent of respondents tend to spend more time browsing online during major sales days.
Around 92 percent of respondents indicated they make most of their online purchases on marketplaces such as Shopee, Lazada, Amazon, etc – the top reasons for this are that products are cheaper, convenient payment methods, and user-friendly platforms. Another 71.3 percent have made purchases from other online websites for reasons such as finding better discounts, wider product selection, and exclusive brand promotions.
About 89.7 percent of respondents compare prices of an item across different websites and marketplaces prior to making a purchase. – Irma Isip
