By Raphaela Ann Manalo, UPLB Intern
The digital market is becoming an exciting marketplace. According to the study of Temasek and Bain & Company, digital consumption is now ingrained as a way of life in Southeast Asia including the Philippines. The early adopters have deepened their usage of the digital markets and another 60M consumers joined the online world during the pandemic. This extraordinary shift in consumer behavior, according to the study, has led to the rise of digital merchants and these digital merchants believe that they would not have survived COVID-19 without digital platforms. The first quarter of 2021 recorded US$11.5B in sales, putting it on par with 2020’s full-year value. The study further projected that the digital market will reach US$1T by 2030.
The pandemic has led to the diversification GlowCorp’s marketing strategies to utilize online marketing. Although sales from these online platforms would not compare to the sales from physical stores, the numbers from GlowCorp’s sales in 2021 have shown a bright future in online marketing with 323% and 1,550% increase in sales in Lazada and Shopee respectively.
This development in the digital world is a sign that GlowCorp is on the right path. To aggressively promote its presence in the digital markets, GlowCorp, aside from its presence in Lazada and Shopee, has also developed its online markets via Shopify and Better Basket. It also capitalized on the presence of social media such as Facebook to promote its products. More than 20 products are promoted in the digital markets including organic rice, muscovado, cocosugar, adlai, banana chips, turmeric, salabat, gourmet tuyo, and tinapa, tablea, and calamansi concentrate.