eCommerce market in the Philippines

The Philippines is the 20th largest market for eCommerce with a predicted revenue of US$18,161.0 million by 2023, placing it ahead of Poland. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.9%, resulting in a projected market volume of US$29,538.6 million by 2027. With an expected increase of 16.3% in 2023, the Philippine eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in the Philippines, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Philippine eCommerce market. Electronics & Media is the largest market and accounts for 31.2% of the Philippine eCommerce revenue. It is followed by Food & Personal Care with 30.6%, Furniture & Appliances with 18.2%, Fashion with 11.7%, and Toys, Hobby & DIY with the remaining 8.4%.

Market development

eCommerce revenue development in the Philippines

The Philippines is the 20th largest market for eCommerce with a predicted revenue of US$18,161.0 million by 2023, placing it ahead of Poland. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 12.9%, resulting in a projected market volume of US$29,538.6 million by 2027. With an expected increase of 16.3% in 2023, the Philippine eCommerce market contributed to the worldwide growth rate of 17.0% in 2023. Like in the Philippines, global eCommerce sales are expected to increase over the next years. Five markets are considered by ecommerceDB within the Philippine eCommerce market. Electronics & Media is the largest market and accounts for 31.2% of the Philippine eCommerce revenue. It is followed by Food & Personal Care with 30.6%, Furniture & Appliances with 18.2%, Fashion with 11.7%, and Toys, Hobby & DIY with the remaining 8.4%.

eCommerce revenue development in the Philippines

in million US$, in %

Note: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war

Source: Statista Market Insights, ecommerceDB

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 47.8 21.2 99.6 23.6 76.4 34.7 4.4 99.4
AOV (in US$) 17.3 97.7 23.9 46.1 44.5 86.1 52.8 48.4
CVR (in %) 47.8 21.2 99.6 23.6 76.4 34.7 4.4 99.4
AOV: Average Order Value CVR: Conversion Rate

Top stores

Top five online stores in the Philippines by net sales 2021

The biggest player in the Philippine eCommerce market is shopee.ph. The store had a revenue of US$140.0 million in 2021. shopee.ph is followed by apple.com and zalora.com.ph as the second- and third-largest stores with US$133.3 million and US$59.2 million, respectively. Altogether, the top three stores account for 51.6% of the top 100 online stores' revenue in the Philippines. Store rankings include every store that generates revenue in the Philippines. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in the Philippines was considered.

eCommerce net sales generated in the Philippines in 2021

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ecommerceDB analysis

no-access-0 no-access-1 no-access-2 no-access-3 no-access-4
Filtered revenue (in mUS$) 900.0 550.0 470.0 430.0 370.0
Share of global revenue (in %) 20.7 12.0 3.9 20.6 20.7
Global revenue (in mUS$) 8,300.0 4,600.0 1,190.0 2,122.0 1,814.0
Growth global revenue (in %) 8.3 12.4 33.6 18.0 12.6