Philippines E-Commerce Logistics space on the fast track for growth
Ankur Gupta
Strategic Advisor | Management Consultant | Research Expert | Driving Growth & Revenue for Clients Across the Globe | Sector Agnostic Solutions
Due to lockdowns and other restrictions brought on by the COVID-19 outbreak, e-commerce activity has significantly increased in the Philippines. The country’s freight and logistics sector is anticipated to be severely impacted by this increase in e-commerce because there is a growing need for dependable and efficient delivery services as more and more people buy online. Presently, the e-commerce logistics sector is growing at a CAGR of 40% between 2019 and 2020.
The market is highly poised to grow with a double-digit growth rate in the coming years. Read more to find out the growth enablers of the e-commerce logistics industry in the Philippines.
1. Philippines, 109.5 Mn populated country witnessed 2.5% decline in GDP…
1.2…however displaying the Growth in E-Commerce due to increasing Internet Penetration
2. Philippines witnessed a large increase in Online Shoppers with 46Mn in 2020...
2.1...owing to Convenience & Huge Discounts offered by Leading Marketplace Platforms
3. The e-commerce logistics industry is Currently Positioned In the Growth Stage due to the Increasing Penetration of the E-Commerce Market in Philippines
4. Growing Government Support along with Digital Penetration among Filipinos has complemented the growth in Philippines E-Commerce Logistics
5. Several Technological Disruptions in E-commerce Logistics Industry...
5.1 …leading to huge impact on delivery of E-Commerce Shipments and driving the growth of the market in the future