MANILA -- The rise of livestreaming is changing the face of e-commerce in the Philippines, an e-distributor of leading multinational corporations said Tuesday.

Steve Sy, founder and chief executive officer of Great Deals E-Commerce, said TikTok Shop seems to have changed consumer behavior during the 11.11 sales event.

"In terms of consumer behavior, there's a lot of new market or new consumers coming in through the Tiktok Shop. So basically, the average basket size or average order value [is] drastically smaller in size compared to last year--I think maybe 30 to 40 percent down in terms of average basket size," he said.

Sy also noted that livestreaming or live selling seems to have weakened the appeal of 11.11 campaigns in the Philippines.

"There were not even celebrity endorsers during the (11.11) Have you seen it? There's no major superstars. So right now it's live stream. People are being entertained every day. So the campaign has, I would say, (lost) its appeal a little bit, because typically, you get the entertainment almost every day through live stream," he observed.

Still, Sy's company saw a 60 percent growth in sales compared to last year, he said.

"Even as a company, we're still growing quite fast in terms of in compared to the industry," he said. "So it's not an issue."

"I think all platform has been growing, but Tiktok shop has exponentially grown so much this year. Even on the 11.11 which is a typically Shopee, Lazada platform, it's already almost 30-30-30 in terms of the balance of the campaign," he noted.

The online marketplace of short video platform TikTok is already "among the top players" in the Philippine e-commerce space, a company official said last month as it pushed its concept of "shoppertainment."

With 2 million sellers, TikTok Shop says already among 'top players' in PH online marketplace

--ANC, 12 November 2024