eCommerce market in the Philippines
The Philippines is the 23rd largest market for eCommerce with a predicted revenue of US$17,401.5 million by 2024, placing it ahead of Switzerland. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 16.6%, resulting in a projected market volume of US$32,217.4 million by 2028. With an expected increase of 20.4% in 2024, the Philippine eCommerce market contributed to the worldwide growth rate of 10.1% 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%.
Monthly revenues
Monthly revenues in the Philippine eCommerce market
The monthly eCommerce revenue of the Philippine eCommerce market was US$1,181 million in September 2024. This refers to a growth of -14.2% compared to August 2024. Within the last 12 months, the monthly revenue share was the highest in January 2024 with 10.7% of the total 2024 revenue of the Philippine eCommerce market and the lowest in September 2024 with 6.8% of the total 2024 revenue.
Revenue Last Month
US$1,180.8m
The eCommerce revenue fell by 14.2% from August 2024 to September 2024.
Monthly revenue shares in the last 12 months
0-2024 | 1-2024 | 2-2024 | 3-2024 | 4-2024 | 5-2024 | 6-2024 | 7-2024 | 8-2024 | 9-2024 | 10-2024 | 11-2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Monthly revenue share (in %) | 95.0 | 16.5 | 26.7 | 24.9 | 30.5 | 89.4 | 26.8 | 20.4 | 95.7 | 38.8 | 36.1 | 66.2 |
Market development
eCommerce revenue development in the Philippines
The Philippines is the 23rd largest market for eCommerce with a predicted revenue of US$17,401.5 million by 2024, placing it ahead of Switzerland. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 16.6%, resulting in a projected market volume of US$32,217.4 million by 2028. With an expected increase of 20.4% in 2024, the Philippine eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in the Philippines, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Philippine eCommerce market. Electronics is the largest market and accounts for 24.3% of the Philippine eCommerce revenue. It is followed by Fashion with 19.5%, Hobby & Leisure with 19.1%, Furniture & Homeware with 11.6%, Grocery with 9.9%, Care Products with 8.0%, and DIY with the remaining 7.5%.
eCommerce revenue development in the Philippines
eCommerce revenue growth in the Philippines
Net eCommerce revenue split by sub-category
2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
---|---|---|---|---|---|---|---|---|
Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Growth (in %) | 48.1 | 21.0 | 51.7 | 75.0 | 54.0 | 19.9 | 75.9 | 2.5 |
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
Filtered revenue / share eCommerce net sales refer to the year 2023 | Global revenue eCommerce net sales refer to the year 2023 | Growth eCommerce net sales growth refers to 2023/2022 | |
---|---|---|---|
US$900.0m 20.7% | US$8,300.0m | 8.3% | |
US$550.0m 12.0% | US$4,600.0m | 12.4% | |
US$470.0m 3.9% | US$1,190.0m | 33.6% | |
US$430.0m 20.6% | US$2,122.0m | 18.0% | |
US$370.0m 20.7% | US$1,814.0m | 12.6% |
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