How To Sell Online In The Philippines
The digital retail market in the Philippines has noticed a considerable rise, thereby giving birth to new opportunities for online sellers and small-medium enterprises.
As a result, the entire Filipino eCommerce market is investing and trying to make money online.
However, it is easier to start an online business as compared to brick-and-mortar, but to make it successful proper research, planning, and strategies are required.
Ecommerce will reach 5 trillion US dollars by 2021, and the CAGR growth rate to grow by 16.3% from 2020-2024, as per the global data survey by eMarketer and Statista, resulting in a projected market volume of 6,481 million US dollars by 2024.
The Filipino market is juicier as the number of populations is hooked more to the screens. Internet penetration is getting more profound, and people are spending more time on social media.
They are the top social media users in the world, and a significant part of their population are Internet users. They are also among the biggest spenders in the digital retail market.
Thus, making the Philippines a hub for online selling. So, if you have decided to take your business online and achieve success, let’s see a step-by-step guide to be a successful eCommerce seller in the Philippines.
Plan your business segment
It is essential to decide what you want to sell. Check the market for its demand, shipment, cost, inventory storage, and level of competition.
If the choice of business is right, it will help determine the best places to sell them and automatically reach a vast audience.
Do a fundamental market Analysis
Once you are specific about the product you want to sell, make use of a market analysis tool like Google Keyword Planner to search for keywords.
This tool will give you a clearer idea of what consumers of the Philippines are searching for, the higher search volume for your keyword.
It will also help you to understand what kind of products drive more customers at any time, like apparel, electronics, shoes, etc.
Strategize your business and Build a plan
- After keyword research, note down the requirements for your business, such as inventory, logistics, your target audience, platforms to promote your business, and, most importantly, the quality of your product. Because Filipino online shoppers usually search about the sellers to make sure they are buying from a genuine brand.
- Do a comprehensive analysis of the demand for your product or service, and map down the ways to reach your target demographics.
- After all the research, make a blueprint of your business from setting up to execution. Plan out your budget and make arrangements for the funds required.
Check out the Legal terms
The other crucial part of starting your business is to go through all the legal formalities of the Philippines and clear your paperwork.
- Apply for your Business license to become an eligible seller.
- Perishable goods like alcohol, perfume, cigarettes, fruits, and vegetables, have certain shipping restrictions in Philippine, for which you require more documentation. So, check for the shipping restrictions for your goods.
- Try to avoid any kind of patent issues, nor let anybody steal your work. Get your copyright registrations in advance to stay safe.
Set-up a web store and social media promotions
- Create a user-friendly website that is easy for navigation with relevant content. It should be optimized for different devices, browsers, and should be mobile responsive.
- As you are designing a business website, it should load fast, scale potential visitors, and secure.
- Make use of advanced platforms that will make your website look professional.But your website will gain success only when promoted on multiple channels.
- As we all know, Filipinos like spending time on the internet, so make use of social media campaigns.
- It is a considerable way of engaging customers and generating revenue.
Popular Online eCommerce sites in the Philippines
Here is a list of the major market players in the Philippines.
- LAZADA offers a wide range of products anyone can think of, ranging from clothes, accessories, cars, and many more. It is present across other countries of Southeast Asia.
- Shopee offers its service in 6 different languages and is LAZADA’s fierce competitor. It is known for its fashion, beauty, home, and living products.
- Zalora is Southeast Asia’s leading online fashion destination offering branded clothes and shoes. It also features its styling tips and beauty blogs.
- OLX-Carousell OLX Philippines merged with Carousell, a Singapore online platform, to form a more significant marketplace for buying and selling all kinds of products, including second-hand.
- eBay is one of the largest marketplaces that offer extensive payment methods, cheaper shipping rates, and multiple product options.
- Amazon FBA, like eBay, is also a giant marketplace. It allows accessing more than 200 million customers.
- Shopify is another most sought platform in the Philippines that allows anyone to list their products with Shopify POS.
- Choose the category that drives profit.
- Try working with Influencers to promote your business.
- Look for trustworthy suppliers to run your business hassle-free.
- Choose the best delivery options, as logistics also plays a vital role in customer satisfaction, as late deliveries turn away the customers.
- Keep yourself updated on the marketplace and upcoming technologies.
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