More Filipinos expect to increase their online spending in the next two years, a study by PayPal Holdings, Inc. and Ipsos said.
In a survey conducted by the company with firm Ipsos, PayPal Cross-Border Consumer Research 2018, the results showed that the total online spend of Filipino shoppers is predicted to increase by 32% from about P92.5 billion in 2017 to P121.9 billion this year.
“Out of the survey respondents, 55% of those who are shopping online expect their online spending to increase,” PayPal strategic director for Southeast Asia Abhinav Kumar told reporters on June 27.
PayPal also said that Filipinos are estimated to spend around P185.16 billion in online shopping by 2020.
Top reasons cited by Filipinos for increase in online spending are convenience, variety of platforms, and expectation of faster shipping.
PayPal said that fashion such as clothing, footwear and accessories is the top category for cross-border shopping in the Philippines, with 68% of Filipino cross-border online shoppers having spent on these items in the past 12 months. Fashion was followed by consumer electronics as well as cosmetics and beauty products,with 57% and 56% respectively.
Categories with projected growth rates for the year are groceries and household goods (26%); baby/children supplies (24%), and leisure, hobby & outdoor equipment (23%).
The survey covered 34,000 consumers in 31 countries, with 1,006 participants in the Philippines. — Patrizia Paola C. Marcelo