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    Local e-commerce transactions in the Philippines reached 1 billion pesos annually in the early 2000s, and were projected to reach 20 billion pesos by 2004 if growth continued. E-commerce provides advantages for businesses like increased accessibility and convenience for customers anywhere in the world. It enhances traditional business transactions by reducing the time and effort for both companies and customers. Engaging in e-commerce can help businesses establish good relationships with consumers and achieve their sales goals.

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    Local e-commerce transactions in the Philippines reached 1 billion pesos annually in the early 2000s, and were projected to reach 20 billion pesos by 2004 if growth continued. E-commerce provides advantages for businesses like increased accessibility and convenience for customers anywhere in the world. It enhances traditional business transactions by reducing the time and effort for both companies and customers. Engaging in e-commerce can help businesses establish good relationships with consumers and achieve their sales goals.

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    Local Literature

    Uploaded by

    ley
    Local e-commerce transactions in the Philippines reached 1 billion pesos annually in the early 2000s, and were projected to reach 20 billion pesos by 2004 if growth continued. E-commerce provides advantages for businesses like increased accessibility and convenience for customers anywhere in the world. It enhances traditional business transactions by reducing the time and effort for both companies and customers. Engaging in e-commerce can help businesses establish good relationships with consumers and achieve their sales goals.

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    Local Literature

    In the Philippines, e-commerce is largely used for bank-to-bank e/change by


    major shops and international organizations. A number of Business-to-customer have
    emerged through the years such as auctions, online shopping, and online banking
    (Lacson, 2016) This just demonstrates that, with 16 percent of the population utilizing
    the internet, Filipino firms enjoy this new possibility to sell items. This new marketing
    method will assist not just large corporations, but also small enterprises that cannot
    afford to advertise their goods. Simply by constructing a website at a little cost, the
    business will expand in terms of sales and the company's image will improve.

    As Filipinos entered the 21st century, local e-commerce transaction reached


    Php 1 billion. It shows that there's at least one billion transaction sales growth annually.
    If this trend continues, figures can reach up to Php 20 billion as more businesses
    conduct online transactions. If significant economic growth takes place in the next 10
    years, these estimates may even double or triple (Toral, 2004)

    E-commerce has become a standard method of providing distributed


    information to many different platforms. It is being implemented by a growing number
    of companies to be more completive incorporate world. All companies need to make a
    step forward towards anew technology. To be able to compete with the global market,
    e-commerce was a good answer (Lanvin & Maggarqul, 2006)

    Businesses that engage in electronic commerce (e-commerce) have been


    found to acquire a competitive advantage in terms of accessibility, convenience, and
    availability in the field of marketing. People all around the world have access to the
    internet, therefore customers are no longer restricted to the store's immediate
    neighborhood. Anyone, at any time, can visit the business without difficulty. The user
    may pick things and purchase them without going to the store directly by exploring the
    store. E-commerce proves to enhance the way usual business transactions occur and
    helps lessen the time and effort consumed by the company and customers as well
    (Deanna and Fritz, 2006). With these, a good relationship with their consumers will be
    established and their objective of increasing their sales will be achieved (Kim and
    Katherine, 2004)

    Through internet, e-commerce offers a simplified approach in business deals


    and gives a new option for selling and buying the company's products and at the same
    time not only selling and buying of products but also advertising the site. (Roso and
    Navarro, 2006). Because the items are available on the internet, they have a greater
    possibility of being seen by potential buyers, which may lead to a purchase. It is the
    most cost-effective form of promotion when compared to certain sponsored ads, and it
    is simple to execute for even tiny firms.

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