Filipinos to spend P121 billion online this year: PayPal

Jessica Fenol, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2017/business/12/11/lazada-warehouse-2.jpg?ext=.jpg"/><figcaption>Workers pack merchandise inside a Lazada warehouse. Cathy Yang, ABS-CBN News</figcaption></figure></div>MANILA -- Fifty-five percent of Filipinos expect to spend more online this year, with purchases made through electronic channels seen to reach P121 billion, a payment solutions firm said Wednesday.Mobile shopping alone will account for P56 billion of the total projected purchases, which will likely increase by 32 percent from 2017, according to PayPal&#x27;s Cross-Border Consumer Research.The Philippines is &quot;extremely important&quot; in the e-commerce space, with the third highest smartphone use among 7 Southeast Asian nations included in the study, said PayPal’s regional head for strategic partnerships Abhinav Kumar. &quot;They are finding more and more, and better reasons to buy online. We are seeing extreme positive development for the overall Philippines e-commerce scene,&quot; he said.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/10/16/17/baby-diapers-help-drive-online-shopping-in-mall-country-lazada-ceo">Baby diapers help drive online shopping in mall country: Lazada CEO</a></li>	<li><a href="http://news.abs-cbn.com/business/04/05/18/mobile-remote-points-to-10-billion-e-commerce-market-in-ph-google">Mobile &#x27;remote&#x27; points to $10 billion e-commerce market in PH: Google</a></li></ul>Clothing and accessories, consumer technology and beauty products are the top 3 categories that Filipinos buy overseas through online shopping, according to the PayPal study, which had 1,006 Filipino respondents. The respondents said they also &quot;intend&quot; to buy basics such as groceries, food and drinks, alcohol, household products and children&#x27;s supplies. &quot;That’s what we found interesting, that they were looking for every day use cases like groceries and baby products. Domestically, they get comfortable of how the process works,&quot; Kumar said.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/10/17/17/lazada-hosts-sm-sale-as-malls-online-stores-co-exist-in-philippines">Lazada hosts SM sale as malls, online stores co-exist in Philippines</a></li>	<li><a href="http://news.abs-cbn.com/business/08/24/17/paypal-taps-freelancers-for-growth-in-philippines">PayPal taps freelancers for growth in Philippines</a></li></ul>Some 12.6 million Filipinos shop online internationally, each spending an average P3,302, Kumar said, citing PayPal data. Seventy-six percent of Filipinos use PayPal to make payments and at least 71 percent of Filipino cross-border online shoppers trust the payment portal, the survey showed. &quot;Definitely we are convenient. They perceive us as a lot more secure than any other payment methods and that’s a very positive sign for us in this growing space,&quot; Kumar said

Fifty five percent of Filipinos “expect” their online spending to increase this year as e-commerce becomes more convenient, faster and cheaper, a survey released here on Wednesday revealed.

Fifty five percent of Filipinos “expect” their online spending to increase this year as e-commerce becomes more convenient, faster and cheaper, a survey released here on Wednesday revealed.

Filipinos to spend P121 billion online this year: PayPal | ABS-CBN

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Filipinos to spend P121 billion online this year: PayPal

Filipinos to spend P121 billion online this year: PayPal

Jessica Fenol,

ABS-CBN News

Published Jun 27, 2018 03:32 PM PHT

|

Updated Jun 27, 2018 06:22 PM PHT

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