Philippines. eCommerce sales estimates (October 2023)

Philippines eCommerce market

This is TMO’s second report on the Philippines’ e-commerce landscape in 2023. In October, the country’s eCommerce sector demonstrated remarkable growth. According to Shopee’s sales data, the Philippines ranked third in sales contribution among the six Southeast Asia countries, surpassing Thailand, Singapore, and Malaysia, trailing only behind Indonesia and Vietnam. Notably for Lazada, the top spot in sales revenue on its platform is in the Philippines.

In a recent report by CNN Philippines, Lazada experienced unprecedented growth in the Philippine market. Fueled by strong demand from Filipino shoppers, the company increased its investment in the Philippines to enhance the online shopping experience for the local population.

Lazada’s CEO, Carlos Barrera, stated in a recent release that the company has been closely monitoring shifts in demand in the Philippine market. The increased investment reflects Lazada’s long-term commitment and unwavering confidence in the Philippine market.

In October 2023, the combined sales of Shopee and Lazada in the Philippines exceeded $1.149 billion. Here are the highlights from TMO’s refined insights into the Philippine e-commerce market:

Market Highlights:

• Platform Performance: While Lazada in the Philippines outperformed its counterparts in other countries, Shopee maintained higher overall sales, approximately 30% more than Lazada. Shopee’s sales in the Philippine market reached $670 million, while Lazada’s sales amounted to $470 million in October 2023.
• Top Categories:
  Shopee: Best-selling categories on Shopee in October were Electronics, Hobbies and toys, and Fashion and lifestyle.
  Lazada: Leading categories were TVs and home appliances, Electronic devices, and Home and Lifestyle products.
  Overall, Electronics, Home Appliances and accessories emerged as the most favored e-commerce products in the Philippines, with the highest average selling prices in the $20-50 and $200-500 ranges.
• Best-Selling Products: Popular items included Xiaomi’s Note 2, Realme tablets, Philips vacuum cleaners, and smart mops.
  – Emerging electronic products like air purifiers, projectors, outdoor speakers, and portable karaoke machines gained popularity.
  – In men’s fashion, brands like Onitsuka Tiger, Timberland, Nike, and BOTTEGA VENETA were top sellers.
  Bosch commercial products such as Car washers, Lawnmowers, and Drills secured three spots in Shopee’s home category top five while claiming two in Lazada.
  – Local Brands:
  Local brands like Sace Lady dominated Shopee’s beauty top five. NutriAsia’s three cooking oil sets ranked in the top three of Lazada’s household essentials category.
• Male Consumer Behavior:
  Unlike in other countries where female consumers dominate, male consumers in the Philippines showed a willingness to spend generously on their preferred products.
• Download the full report for further insights and stay tuned as TMO continues to monitor trends in the Southeast Asian e-commerce market. For customized data requests or additional information, feel free to contact us!

What is in this datapack

In the datapack we provide our estimates of the Shopee and Lazada sales in October 2023 for the Philippines market, broken down by product categories.

We provide such numbers as total SKUs with sales, number of sales, revenue (both in local currency and in USD), distribution of sales by the price range of items. Where relevant, we show internal categories of product groups.

We list top 5 products (by revenue) in each category, their price, sales volume, name and picture.

Notification of Update

Starting from February 2023, TMO no longer releases monthly South East Asia eCommerce sales estimates of the six Southeast Asian countries. Instead, we will refer to Shopee and Lazada’s marketing calendars to collect and publish sales estimates for the selected country each month. To enhance readers’ understanding of the top products, we will also translate the parts containing local languages into English.

The country plan for 2023 is as follows: Thailand for February issue, Malaysia for March issue, Vietnam for April issue, Indonesia for May issue, Singapore for June issue, the Philippines for July issue, Vietnam for August issue, Thailand for September issue, Malaysia for October issue, Singapore for November issue, and the Philippines for December issue.

At the same time, we will delve into various industries, continuously releasing industry outlooks to meet readers’ needs for focused attention on specific industries. In December 2022, TMO already published the first issue of Southeast Asia Cosmetics and Makeup Market Outlook. Furthermore, TMO will be introducing additional industry outlooks to furnish readers with comprehensive insights into segmented market trends, enabling them to make informed business decisions. Stay tuned!

If you are looking to dive deeper into Southeast Asia’s eCommerce market, look no further than our expert team! With our thorough research and analysis, you’ll gain a deep understanding of your niche, including market structure, size, and emerging trends. We’ll also provide invaluable insights on price ranges, top-selling items, and popular brands to help you stay ahead of the competition.

Get in touch today to learn more about how we can help you unlock the full potential of Southeast Asia’s eCommerce market!