WeChat sees potential of m-commerce in PH

By Rizal Raoul Reyes

Posted at Apr 24 2014 11:37 PM | Updated as of Apr 25 2014 07:37 AM

MANILA -- Social media platform WeChat believes there is huge potential for growth of mobile commerce (m-commerce) in the Philippines.

In a media briefing held on Wednesday, WeChat Philippines managing director Oliver Ye cited a recent report showing that Filipinos have embraced m-commerce in various applications such as mobile banking.

Filipinos are heavy users of mobile technology as indicated by the annual increase of 300 percent, according to the recent Nielsen Global Survey of Consumer Confidence and Spending Intentions.

Citing the report, Ye said the current trend indicated that 63 percent of Filipinos opted to access content through their smartphones. Moreover, the report said 69 percent of the budgets of companies are allocated to mobile marketing.

Ye pointed out that it is logical for companies to gradually implement mobile-based technologies to cater to the Filipinos' activities such as uploading photos online, watching video clips, managing online profiles and using social networking services.

As Filipino Internet users become more mobile, Ye said there is a strong need for companies specially the big organizations to be present in social media platforms. Among the 38 million Internet users, 34 million use social media daily covering various topics from automobiles to travel.