Shivani Gupta, senior banking and payments analyst at GlobalData, said the Philippine e-commerce market is anticipated to post a compound annual growth rate of 13.2 percent between 2024 and 2028 to reach P2.2 trillion or $39.5 billion in 2028.MANILA, Philippines —
The growth has also been supported by the government’s initiatives to boost e-commerce sales including the Department of Trade and Industry’s partnership with e-commerce and logistics provider SOMAGO, which involves encouraging small and medium enterprises to set up their business online and sell their products via the SOMAGO platform.Last year, Chinese e-commerce platform Temu launched operations in the Philippines to compete with companies like Lazada and Shopee.
Payment cards are the second most preferred payment method, with debit, credit and charge and prepaid cards collectively accounting for a 28.2 percent share in 2023. Credit growth accelerated further to 9.6 percent in April from 9.4 percent in March as Philippine banks disbursed more production...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rockwell Land expects revenue growth to 2028LOPEZ-LED Rockwell Land Corp. expects sustained earnings growth in the next five years as it jumpstarts its expansion strategy with at least three planned launches in Luzon this year.
Source: TheManilaTimes - 🏆 2. / 92 Read more »
Livestock Philippines and Aquaculture Philippines 2024 lead way in driving business opportunities, industry growthManila, Philippines – Informa Markets in the Philippines is set to host again the Livestock Philippines and Aquaculture Philippines this year, highlighting innovation and technology to improve the agricultural economy particularly the livestock and aquaculture industries.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Livestock Philippines and Aquaculture Philippines 2024 highlight innovation, expertise to empower industryPasay City - Informa Markets in the Philippines is optimistic that this year’s Livestock Philippines and Aquaculture Philippines will empower stakeholders from both subsectors to adopt technology and enter new markets, helping fuel economic growth at the regional and national levels.
Source: BusinessMirror - 🏆 19. / 59 Read more »
Livestock Philippines and Aquaculture Philippines 2024: Leading the Way in DrivingBusiness Opportunities and Industry Growth Informa Markets in the Philippines is set to host again the Livestock Philippines and Aquaculture Philippines this year, highlighting innovation and technology to improve the agricultural economy particularly the livestock and aquaculture industries.
Source: BusinessMirror - 🏆 19. / 59 Read more »