Metro Manila (CNN Philippines, July 18) — Live-stream shopping, which rose to popularity during the pandemic, is expected to sustain the e-commerce momentum with brands now turning to Chinese short-form video app TikTok given its over 40 million Filipino users, an industry player said on Tuesday.
According to homegrown company M-Commerce, it has expanded its services to include “Live Selling Promotions” on TikTok for international and local brands as the platform continues to see its Philippine user base balloon.
M-Commerce CEO Michael Cordoviz expressed optimism that the Philippines has “the potential to lead the online retail and live-selling industry in Asia and the world.”
When the government limited the mobility of consumers during the peak of the COVID pandemic, enterprises were quick to adapt to live selling where they showcase their products to potential buyers in real-time using social media platforms.
Based on a report from DataReportal, TikTok’s ad audience can hit around 43 million Filipino adults.
According to Cordoviz, more micro-, small-, and medium-sized enterprises seek to penetrate the online market.
Job opportunities are also being created amid the boom in live selling, with M-Commerce alone employing hundreds of “Live Event Hosts.” Three hundred more are set to be onboard the company to address the demand, Cordoviz said.
Data from the Philippine Statistics Authority showed in April that the digital economy amounted to ₱2.08 trillion in 2022, or 9.4% of the country’s gross domestic product. This is composed of digital transactions covering digital-enabling infrastructure, d-commerce, and Digital media/content.