The Philippines has become one of the fastest-growing e-commerce markets in Southeast Asia. With a population of over 117 million people, the country presents a significant opportunity for e-commerce businesses to grow and succeed. If you have a target to set up your own online store here in the Philippines, or if you already have an existing e-commerce website, here are five tips to help you succeed.
1. Set up your own e-commerce store
The very first step to succeeding in the e-commerce industry is first to have your own online store established. There are various platforms to choose from, including Shopify, WooCommerce, and Magento. These platforms provide easy-to-use templates that enable you to set up your e-commerce site in just a few steps. Here's an overview of the three:
1. Shopify
Shopify is a well-known e-commerce website that is recognized globally as one of the top platforms for creating an all-in-one online store. It allows you to set up your store, manage your inventory, and process orders from a single dashboard. Shopify's user-friendly interface is its key advantage, and it provides a variety of themes to choose from. In addition, it offers support and communities to help you get started.
2. WooCommerce
WooCommerce is one of the top e-commerce platforms. It's an open-source system that works as a WordPress plugin, enabling users to set up an online store within their WordPress site. WooCommerce is recognized as one of the most efficient e-commerce platforms, offering a range of features to customize and optimize your online stores. It's also a great option for businesses here in the Philippines looking to upgrade their existing e-commerce store.
3. Magento
Magento is another popular e-commerce system. Its extensive feature set makes it a suitable choice for those looking to set up their own advanced online stores. Magento is ideal for businesses in the Philippines who are looking for a robust and flexible platform to achieve their e-commerce goals.
2. Identify your target market
Everyone knows that when it comes to marketing, the identification of your target market is crucial, even more so for e-commerce businesses. As the Philippines is a diverse country with numerous ethnic groups across multiple regions, it's essential to research and understand the local culture and preferences of your target market to provide the right products and services. Another important target market you should consider is the overseas Filipino workers (OFWs) as they are a significant source of income for many families in the Philippines, and they often shop for products on online stores to send to their loved ones back home.
In addition, there’s an extra consideration that you would want to take note of, and that would be your online customers’ social media habits. It is essential to set up marketing strategies across different social media platforms that you own, and we will be touching more on this in the next point.