The number of registered online retailers in the country has significantly increased since the start of community quarantine in March this year, according to the Department of Trade and Industry (DTI).
In virtual press briefing, DTI assistant secretary Jean Pacheco, said as of August 11, there are over 68,000 business names registered under retail sale via the internet.
In May, registrations rose 450 percent to 9,690 from just 1,750 the previous month, and hit over 33,000 in June.
“We look at this as a barometer of the booming interest in electronic commerce and with this, a concomitant need for government to continue, and scale up e-commerce interventions,” Pacheco said at the forum organized by PayMaya Philippines and the USAID E-PESO project.
The DTI sees huge opportunity for Philippines businesses in the online retailing amidst the pandemic.
Philippine total retail sales are valued at $63 billion of which e-commerce accounts for less than 4 percent, at $2.4 billion.
But according to a Google study, e-commerce will rise from $7 billion in 2019 to $25 billion in 2025
Pacheco said “We must prepare our entrepreneurs to adapt to this new business models.”
“The goal is to increase SMEs understanding on e commerce and introduce them to enablers and platforms that will expand their marketing channels from traditional brick and mortar stores into digital,” she added.