The Philippines has become a major market for mobile commerce
Mobile commerce is finding success in the Philippines. Euromonitor International, a business intelligence company, suggests that this is because of the growing smartphone penetration in the country. The Philippines is one of the countries in the Asian market that is leading the charge in mobile commerce adoption. This has to do with the growing number of young, tech-savvy consumers that are relying heavily on their mobile devices in their daily lives.
Smartphone penetration is making mobile shopping more popular
According to Euromonitor International, a digitally-connected population is leading to a major rise in both the Philippines and Thailand. Together, these markets are expected to see their mobile commerce sectors reach $9 million by 2018. In the Philippines, consumers are showing particular favor for online shopping options, especially those that cater to mobile devices. There are many factors that are contributing to the rise of mobile commerce in the country, but telecommunications companies may be having the most impact in this regard.
Expansion of the mobile Internet is making it easier for consumers to shop online with their smartphones
Telecommunications organizations have been working to make the mobile Internet more accessible throughout the Philippines. As access to the mobile Internet increases, more people are becoming exposed to the concept of mobile commerce, and these people are opting to use their mobile devices to shop for and purchase products online. Another factor is the decreasing cost of smartphones. With these devices becoming less expensive, more consumers are gaining access to them, which is also exposing them to the concept of mobile commerce.
Business process outsourcing industry highlights the convenience of mobile commerce
Another reason that mobile commerce is growing has to do with the growing business process outsourcing industry. In the Philippines, more than 1 million people are employed in this industry, many of whom work during the latter hours of the day in order to accommodate international business hours. These people tend to have limited time when it comes to shopping, so they opt to use their mobile devices to make the purchases they need while they are working.