When the Philippines goes online, we can expect it to be an ‘open market’
Philippines internet marketing and advertising industry experts are predicting that online sales will continue to grow as the country gears up to take on China.
Philippines internet marketers have already been busy with the launch of a social media marketing and marketing campaign in an effort to boost its online presence in the country.
The campaign has been a hit, with online retailers offering free samples and coupons, and more than 1.5 million Filipino users have signed up to the social media platform.
But as Filipinos have begun to use the platform to purchase goods online, the industry is hoping to be one step ahead of China by opening up its own marketplaces.
According to P.V. Soto, managing director of P.E.A.C., the country’s largest online marketplace, the country needs to be “open and competitive” in the online space.
“We need to be open and competitive, but also have a very healthy and healthy ecosystem of content that is being shared,” he told The Next WeChat Post.
As the country prepares to embrace the new online landscape, Soto says it will need to find ways to keep up with the demands of an increasingly connected and competitive China.
“The Chinese market is so large and so powerful that we need to create an ecosystem that is open and fair,” he said.
Soto believes that the Philippines will be able to maintain a healthy online presence despite the fact that China will soon be launching a social network in response to growing consumer interest in its products.
China, the Philippines’ biggest trading partner, will soon introduce a social platform for its citizens to share and buy online.
And Soto thinks that the Chinese government’s efforts to regulate the internet and social media in the Philippines could hinder the country from competing with China.
However, Sotos sees the potential of online advertising in the region.
For example, in the past, Chinese social media platforms have offered a range of online services to consumers, such as buying products online and buying goods through mobile app.
“China could really benefit from being able to leverage the social platforms to their advantage,” he added.
A major hurdle to Philippine online marketing efforts, however, is that the country is facing a severe shortage of skilled and experienced online marketers.
The country’s only online marketing agency, P.T.T., has only 15 employees.
While the agency hopes to recruit and train a new group of marketers, PTT’s chief executive officer, Robert Pangilinan, told TheNextWeChat Post that the agency is unable to offer services to Filipinos because it does not have a strong presence in China.
“There are a number of issues that are preventing us from providing services to the Philippines,” he explained.
Pangilins hope to recruit more people to the agency.
According to the Philippine Chamber of Commerce and Industry, the internet industry accounts for more than half of the countrys gross domestic product (GDP), with the country hosting over $10 billion in trade.
And as it ramps up to become the second-largest market in Asia, the government hopes to capitalize on the growing popularity of online shopping and online marketing.
In addition to providing services for Filipinos, the Philippine government is also seeking to diversify its market.
To that end, the ministry of social welfare has launched the National eCommerce Strategy, a government-wide effort to develop online businesses.
And the government is expected to introduce a national e-commerce tax, which will be implemented through a new tax law.
According the Philippines Chamber of Technology, a non-profit organization that focuses on the digital economy, the proposed tax will be aimed at “building up the Philippine online economy.”
And if approved, the tax could be effective by July.
“I think that there is a real opportunity to create more jobs in the sector, especially in the rural and urban sectors,” Soto said.
“But the government will need the help of the private sector to develop the online market.”