ONLINE shopping site adobomall is optimistic it can be a major player in the local e-commerce segment with a projected 40 percent market share in five years.
“Our market share is not yet that big, maybe next year we can have 3 to 5 percent, but by the end of five years, we should be close to having 25 to 40 percent market share,” Walt Steven Young, founder and chief executive officer of AdoboMall, told The Manila Times in an interview.
Young said the country’s e-commerce market remains “underutilized,” which they can take advantage of to help grow the industry as well as their business.
He said despite being a new market entrant, adobomall continues to boost its Philippine foothold with technology such as Big Data, which could set them apart from other retailers as this provides real-time information and insight.
Young added the adobomall platform also allows merchants to customize their mall storefronts.
adobomall earlier unleashed a new feature in its app using the augmented reality technology, the company executive said. “You can use your camera and through that application, there’s another reality that comes out, in our case it’s a voucher or a bayong,” he added.
Young added they are also set to implement three more technologies next year to provide better services to both consumers and partner brands.
The e-commerce site has already partnered with more than 300 retail brands, both international and local, in just more than a year in the market.
“By the end of the year, we’ll be at least 600 stores,” he said.
adobomall focuses on the categories of fashion and apparel, technology products, and lifestyle.