eCommerce market in the Philippines

Market development

eCommerce revenue development in the Philippines

The Philippines is the 23rd largest market for eCommerce with a predicted revenue of US$18,218.6 million by 2024, placing it ahead of Malaysia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 16.8%, resulting in a projected market volume of US$33,945.2 million by 2028. With an expected increase of 20.5% in 2024, the Philippine eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in the Philippines, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Philippine eCommerce market. Electronics is the largest market and accounts for 24.3% of the Philippine eCommerce revenue. It is followed by Fashion with 19.5%, Hobby & Leisure with 19.1%, Furniture & Homeware with 11.6%, Grocery with 9.9%, Care Products with 8.0%, and DIY with the remaining 7.5%.

eCommerce revenue development in the Philippines

in million US$

eCommerce revenue growth in the Philippines

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)91.458.578.934.411.582.690.638.3

Online share

eCommerce online share in the Philippines

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Philippine retail market, the online share is 7.5% and will increase by an average of 6.1% to 9.5% by 2028.

eCommerce online share in the Philippines

in %
20202021202220232024202520262027
Online share (in %)90.9%0.7%79.9%85.8%20.2%44.0%35.1%64.3%

Top stores

Top five online stores in the Philippines by net sales 2023

The biggest player in the Philippine eCommerce market is apple.com. The store had a revenue of US$143.6 million in 2023. 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 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%