Philippines Social Commerce Market Report 2022-2028 – Brands are Increasingly Using Social Platforms to Tap into the Growing Social Commerce Trend – GlobeNewswire

| Source: Research and Markets Research and Markets
Dublin, IRELAND
Dublin, May 13, 2022 (GLOBE NEWSWIRE) — The “Philippines Social Commerce Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.

Social commerce industry in Philippines is expected to grow by 30.4% on annual basis to reach US$681.6 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 26.7% during 2022-2028. The social commerce GMV in the country will increase from US$681.6 million in 2022 to reach US$2,744.5 million by 2028.

In the midst of the growing number of consumers flocking to social media platforms to discover and purchase products from social networking sites, the social commerce industry is gaining increasing ground on traditional e-commerce channels and physical retail outlets in the Philippines. The sheer amount of time spent by consumers, especially younger generations, on social networking platforms is making social commerce one of the fastest-growing trends in the Philippines.

The rise of the social commerce industry in the Philippines is parallel to the growth of the market in Southeast Asia. Being one of the youngest communities globally, Southeast Asia is expected to remain one of the largest markets for social commerce over the next four to eight quarters. According to the analysis, social commerce accounted for more than 45% of the Southeast Asian e-commerce market in 2021 alone and is expected to have increased further in 2022.

The publisher expects the growth in the Philippine social commerce sector to continue over the next four to eight quarters as several local and regional startups continue to compete for market share in the country. Notably, the growing investment from large social media platforms, such as Facebook, Instagram, and TikTok, is also expected to support the growth of the social commerce sector in the Philippines.

Moreover, as the social shopping method continues to become more mainstream in the country, the publisher expects a further rise in investment from private equity and venture capital firms in the Filipino social commerce industry. The growing competition in the space is also expected to lead to more mergers and acquisition deals over the next four to eight quarters in the Philippines. Overall, the publisher expects the social commerce industry in the Philippines to record strong growth from the short to medium-term perspective.

Brands are increasingly using social platforms to tap into the growing social commerce trend in the Philippines

In the midst of the growing number of consumers flocking to social media platforms such as TikTok to discover and purchase products in the country, a number of different brands are using social commerce platforms to boost their sales.
With several of the brands reporting a positive impact on the consumers when interacting through social commerce platforms, the publisher expects more firms to leverage TikTok and other social media platforms to drive consumer purchase intent in the country from the short to medium-term perspective.

Social commerce startups are adopting different business expansion strategies to expand their market in the Philippines

Social commerce firm Pinduoduo has achieved substantial success in China over the last four to eight quarters. Notably, startups around the globe are looking to recreate the success of Pinduoduo in their own region. Similar trends are visible in the Philippines, wherein the social commerce startups are seeking to recreate the success of Pinduoduo in Southeast Asia.
Scope
Philippines Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Philippines Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by Location, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by Location, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by Payment Method, 2019-2028
Philippines Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour, 2021
For more information about this report visit https://www.researchandmarkets.com/r/7zldt1

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