Filipinos tend to shop for products and services online on Wednesdays and Thursdays over any other day, according to Malaysia-based online shopping aggregator iPrice Group.
In a report titled “State of eCommerce in Southeast Asia 2017," iPrice revealed that the Philippines showed the highest conversion rates, or the rate in which a visit to an e-commerce platform leads to a purchase, on Wednesdays and Thursdays. Using Monday as a baseline, conversion rates were seven percentage points higher on these days.
On the other hand, Filipinos showed much less online shopping activity on weekends, with conversation rate dipping to 84 percent on Saturdays and a weekly low of 80 percent on Sundays.
This trend of high weekday and low weekend conversion rates is consistent across the five other Southeast Asian countries in the report, which iPrice attributed to “the large increase in the percentage of mobile usage [in the weekend].”
In the report, iPrice revealed that mobile traffic contribution to e-commerce platforms was higher during weekends compared to weekdays, rising to as high as 82 percent on Sundays for the Philippines compared to 70 percent on Wednesdays.
While this may be indicative of higher e-commerce activity, iPrice correlated the increase in mobile traffic to a decrease in conversion rate as online shoppers using mobile tended to make less purchases than online shoppers using desktop. In the Philippines, conversion rate among desktop shoppers was almost triple that of mobile shoppers, and similar trends can be seen in its Southeast Asian neighbors.
“Despite the meteoric rise of mobile traffic in the region and the development of adhoc tools supporting mobile commerce, traffic on mobile still suffers a substantial gap with desktop when it comes to average conversion rate,” wrote iPrice in the report.
Aside from daily conversion rates, iPrice also revealed the peak hours for e-commerce transactions in each of the six countries. For the Philippines, iPrice recorded the highest number of online shopping orders between 11 AM and 6 PM, with activity peaking from 3 PM to 4 PM. Conversely, e-commerce platforms in the Philippines received the least number of orders between 3 AM and 6 AM.
This again followed the trend of other Southeast Asian countries, which iPrice believes is because Southeast Asians tended to shop online more when they are at work or in school. This is also consistent with a statement from Lazada Philippines CEO Inanc Balci, who commented in an event that the company received the most orders within working hours and dipped during lunch break and in the evening.
For “State of eCommerce in Southeast Asia 2017,” iPrice gathered insights from over 1,000 e-commerce players across six Southeast Asian countries. The report underscored the huge growth opportunity for the industry in the region, with iPrice opening the report by stating that “2017 has been a vital year for e-commerce in Southeast Asia.”
Lorenzo Kyle Subido is a staff writer of Entrepreneur PH