iTrueMart, Thailand’s leading e-commerce retailer, has launched iTrueMart.ph e-commerce website in the Philippines, aiming to become a dominant player in the country by 2017.
The new site is part of the company's plan to expand in the region in light of the Asean Economic Community (AEC). Currently, iTrueMart operates only in Thailand.
“E-commerce will have huge potential when the AEC fully materialises," said Punnamas Vichitkulwongsa, CEO of Ascend Group which operates the e-commerce business.
"According to a study by Ystats SE Asia eCommerce, the volume of Asean’s mobile Internet users rose 56 per cent in 2015. Up to 56 per cent of the Thai and Vietnamese populations are now accessing the Internet via their smartphones, a figure close to the Philippines’ 50 per cent rate. Recognising the growing number of mobile-Internet users, we are confident that online shopping in the region will also grow. The AEC is an emerging and interesting market for e-commerce through which entrepreneurs can expand their businesses."
The company plans an investment of US$150 million for the AEC market in 2016. The investment will be used to improve marketing, inventory and logistics.
"We are debuting our operations in the Philippines and that will be followed by Vietnam, Indonesia, Myanmar, Cambodia, Malaysia and Singapore later in 2016. We are committed for long-term success in the Philippines and everywhere else that we go to.”
iTrueMart.ph is designed to bring an unrivaled shopping experience with access to a variety of products, various payment channels, and competitive pricing that are currently only available for metropolitan shoppers to customers in all provinces in the Philippines.