Toral: PH e-commerce at 21% of GDP-A A +A
Tuesday, October 15, 2013
IN THE maiden release of monthly E-Commerce Index Philippines study (http://bit.ly/ecommerceintensity) of i-Metrics Asia-Pacific Corp. last August 2013, e-commerce intensity is pegged at 21 percent of the country’s gross domestic product (GDP). The GDP of 2012 as of current prices is pegged at around P10.5 Trillion.
The e-commerce study was based on a sample survey representing 234 supply chain executives in manufacturing, retail / wholesale, and services industry segments from top 10,000 corporations.
The survey will be done every last week of the month to keep track of e-commerce movement and growth in the country.
The September study was completed a week ago and I hope to share our results next week and see how our data gets calibrated further as the number of qualified respondents increases and form part of our panel.
There has always been a limited view on how e-commerce is looked at in the country.
That is why I was glad when Dr. Nick Fontanilla, Dr. Donald Lim, and predictive analytics Professor Johnny Amora took the challenge of putting up this start-up that aims to track e-commerce growth in the country.
With Filipinos considered one of the world’s active users of the Internet, there is an opportunity for our countrymen to also aspire for global leadership in e-commerce.
However, the lack of local data in this space has hampered us from viewing opportunities in a broader magnitude of things and investors second guessing our market potential.
E-commerce can’t only be viewed in terms of online payment based transactions. Deals that were found or agreed upon online and were fulfilled offline should still be considered as e-commerce.
For this E-Commerce Intensity study, which looked at the supply side of the equation, what was asked of companies were purchases done and revenues transacted through the Internet. This will be tracked monthly to see if there is an increase or decrease.
At the moment, a stakeholder study is being carried out in parallel to assess the demand side. In the future, I hope, we will arrive at a better understanding of logistics, payment and channels as we mature further in our methodology.
Yes there are so many opportunities in e-commerce. Unfortunately, not most of us are prepared. Curriculums such as Bachelor of Science or Diploma in E-Commerce hardly took off due to lack of data to support the need for it.
But definitely, it is not too late. Perhaps, this is the perfect moment for e-commerce to finally take off.
Published in the Sun.Star Cebu newspaper on October 16, 2013.