With e-commerce playing an important role in enhancing the economic growth, the Department of Trade and Industry (DTI), with e-commerce players and digital industry leaders, launched the first Pinoy Cyber Sale, a unified online sale event from November 27-30 where 20 e-commerce companies in the country will showcase special deals and discounts.
Expected to become an annual online shopping event in the Philippines, the Pinoy Cyber Sale coincides with Black Friday and Cyber Monday, the biggest online retail shopping days in the US.
According to Inanc Balci, CEO at Lazada Philippines, “We need all hands together to increase the e-commerce penetration in the Philippines and this include the government, private sector and consumers.”
Balci emphasized the need to address industry challenges involving logistics, payments and market conditions that hinder the attainment of its growth.
The local e-commerce is currently a $180-million industry, representing 0.2% to 0.3% of the non-food, non-travel and retail sectors.
Balci claimed that in the e-commerce industry, the market is under-penetrated so there is always a demand to buy stuff at a cheaper price. Besides, e-commerce companies have a lower cost pay which they can reflect to their customers to provide them goods at lower cost.
Merchants participating in the event are from retail, travel and services industries. Their offers can be viewed on www.pinoycybersale.com. E-commerce companies include Lazada, Zalora, Foodpanda, Ensogo, Shopee, Goods, Xend Business Solutions, Shopinas, Weemall, AVA.ph, Reloved, Island Rose, Azalea Residences, Best Western Antel, Ellana Minerals, Mimaropa Ventures, One Network E-Commerce, Shopback, and Takatack.
