The Rising Importance of Local Filipino eCommerce
As e-commerce grows rapidly in the Philippines, local MSMEs need help to meet demand. E-commerce enablers play an essential role in helping MSMEs evolve.
A report by market research firm Euromonitor recently reported that a rising number of Filipinos want to buy locally.
Euromonitor’s Sept. 2021 Megatrends Report points out that 39% of Filipinos prefer to purchase local products while another 40% are more interested in shopping in local stores. These figures are higher than the global average of 28%.
The findings are more striking given that, according to the report, 71% of Filipinos recognize they have more access to foreign brands compared to five years ago.
Difficulties meeting rising demand.
The renewed interest in buying local has been attributed to a rise in e-commerce during the COVID-19 pandemic. With people staying indoors, they discover and wan to support more local businesses.
Yet as Filipinos become increasingly inclined to patronize local businesses, the reality is that many entrepreneurs still need help navigating the world of e-commerce. Many find it challenging to juggle selling on multiple markeplaces, managing inventory, arranging fulfillment, and many more of the tasks that come with selling online.
With the trend of buying local only anticipated to accelerate and stick around for the foreseeable future, local entrepreneurs have no choice but to shape up and get ready to compete in the world of e-commerce.
A helping hand for MSMEs.
MSMEs looking to thrive in e-commerce have a potential solution in e-commerce enablers.
Euromonitor International has leveraged its nearly 50 years of experience to identify long-term, consumer-driven developments that disrupt global industries, and then show its readers how to stay competitive in rapidly changing, consumer-centric markets.
To that end, Euromonitor’s Megatrends Report recently cited Manila-based e-commerce enabler Etaily as an ecommerce solutions provider that is uniquely positioned to help Filipino MSMEs achieve their full potential even during the pandemic and amidst stiff competition in the e-commerce scene.
Etaily’s support for the community of entrepreneurs becomes more relevant in the light of the report’s revelation that Filipinos increasingly want to buy from enterepreneurs in the local economy. Its one-stop omnichannel solution, from content production, channel creation to warehousing and fulfillment, provides homegrown brands the capabilities they need to digitally attract consumers, transact online, and deliver their products.
Thus far, Etaily has been able to help major brands such as Landmark department store and lifestyle brand Terranova solidify an online presence. For example, Etaily was responsible for Landmark’s Lazada and Shopee online storefronts, a task that included being responsible for store design, user experience, artwork and copy. It was also Etaily responsible for staying updated on new marketplaces and site campaigns, ensuring its client is strategically placed to take advantage of every new change.
With Etaily, budding Filipino entrepreneurs have an opportunity to harness the best of e-commerce without having to worry about its complexities. Etaily frees business owners to concentrate on innovating their products/services and thinking long-term about the future of their business.