Top 5 Online Marketplaces in the Philippines by GMV 2023

Which eCommerce Marketplaces Are the Leaders of Philippine Market by GMV in 2023?

In 2023, the Philippine eCommerce market witnessed a remarkable display of Gross Merchandise Volume (GMV) figures, showcasing the intense competition among the top platforms. Shopee emerged as the leader in the market with a substantial GMV of US$7,065.0 million, solidifying its position as the preferred choice for online shoppers. Following closely behind, Lazada secured the second spot with a GMV of US$6,630.9 million, demonstrating its significant market presence. TikTok Shop also made a notable impact with a GMV of US$2,600.0 million, highlighting the platform's growing influence in the eCommerce landscape. Carousell and Amazon rounded out the top five with GMVs of US$299.3 million and US$122.0 million, respectively, showcasing their contributions to the vibrant eCommerce ecosystem in the Philippines. The data underscores the dynamic nature of the Philippine eCommerce market and the fierce competition driving innovation and growth among these top players.

Main Facts: 2023's Top 5 Philippine eCommerce Marketplaces by GMV

• Market Leader: Shopee dominates the Philippine eCommerce market with a GMV of US$7,065.0 million in 2023, solidifying its position as the top marketplace in the country.
• Close Competition: Lazada closely follows Shopee with a GMV of US$6,630.9 million, demonstrating a strong presence in the competitive eCommerce landscape of the Philippines.
• Rising Star: TikTok Shop emerges as a significant player with a GMV of US$2,600.0 million, showcasing its rapid growth and impact on the eCommerce sector in the country.