According to the latest GlobalData report, total e-commerce market transactions in the Philippines amounted to 1.3 trillion pesos (approximately $24.1 billion) in 2024, an increase of 19.6 per cent over the same period. The market size is expected to increase to 2.2 trillion pesos (approximately $39.5 billion) by 2028, with an average annual compound growth rate (CAGR) of 13.2 per cent between 2024 and 2028. According to Statista data, the penetration rate of the Philippine electrician is expected to reach 20 per cent by the end of 2025 and will continue to climb to 31.9 per cent in 2029.
The total turnover of the Philippine electricity market in 2024 was 1.3 trillion pesos (approximately $24.1 billion), an increase of 19.6 per cent over the same period, a slight slowdown from 28.6 per cent in 2019-2023, but still strong. The market is expected to grow by 13.2 per cent in 2024-2028, reaching 2.2 trillion pesos (approximately $39.5 billion) by 2028. Statista further predicts that by 2030 the market will have reached $60 billion in size, with an increase in user penetration from 19.3 per cent in 2024 to 31.9 per cent in 2029 and an average user income (ARPU) of $1027.
GlobalData Senior Bank and Payments Analyst, Shivani Gupta, states: “The Philippine electrician market is growing rapidly, thanks to a large young population, growing online payment confidence, improved logistics services and the spread of safe alternative payment solutions in the country. The “Black Friday” and “Web Monday” and “Shopping Days” also contribute to overall growth.”
The rapid growth of the Philippine electrician market has made it one of the most potential markets in South-East Asia, with 73 million active network users driving electricity. The Philippines has a young population and a popular digital lifestyle, with data showing that 90 per cent of consumers have purchased online over the past six months.
In 2024, retailers contributed $15.5 billion, or 64 per cent of total transactions, and other vertical areas (such as tourism, food services, media entertainment) are also growing. Cross-border electric operators accounted for 28 per cent of total sales, with China, the United States and the Republic of Korea being the main source countries. The law on Internet transactions, adopted in December 2023, enhances consumer protection and enhances confidence in online transactions, and is expected to drive market growth in the long term.
Shapee (72 million monthly visits, 2022 Q2) and Lazara led the B2C electric power company, and Zlora and BeautyMNL also took a place in the field of fashion and make-up. In August 2023, the Chinese electric giant Temu entered the Philippine market, increasing competition with old-licensed electric platforms such as Lazara and Shopee. In addition, social media platforms such as TikTok are becoming an important telecentre, and although cash payments are still prevalent, especially among specific groups, alternative means of payment continue to dominate.
