Internet surfing is undeniably now a mainstream lifestyle activity of the tech-savvy Filipinos. With greater Internet penetration due to improved telecommunications infrastructure, and boosted confidence in security of online payment modes, Filipino consumers have gradually embraced the online shopping phenomenon. NOW, the ultimate mission for the Pinoy entrepreneur is how to get his/her business noticed and cope with the evolving trends in this swarming virtual marketplace.
With inherent ingenuity, coupled by their well-known social nature, Filipinos have found and established a new business arena in a seemingly unlikely site- MULTIPLY.com.
Uniquely a Philippine practice, such inventive system in fact runs counter to the terms and conditions of the said social networking site. As evidently stated in its site, "the Multiply Website is for the personal use of individual members only and may not be used in connection with any commercial endeavors."
Indeed, most of the entrepreneurs happen to be first-timers. A number of them are students. Some are working professionals venturing in a supplementary source of income. Others have even taken such online enterprise as their bread and butter. Regardless of their background and motives, all of them are one in their purpose: to sell their products and services (ranging from food and food supplements, books, fashion items, novelty items, gadgets, and even branded items).
Multiply.com’s convenient and user-friendly format has rocketed itself as one of the hippest online shopping destinations for Filipinos. Apart from being a tax haven (since BIR unfortunately lacks resources to monitor such transactions), Multiply currently has YET to impose fees, quotas and other charges. Already being contemplated by the Multiply authorities, the creation of a formal commercial structure would certainly have a strong impact on these small-time Filipino merchants. Reception to such formalization would be diverse. The increased security and better payment and advertising facilities would be weighed against the merchant’s threshold for administrative and promotion costs.
In the ultimate analysis of such phenomenon, it can be maintained that e-commerce is undoubtedly a good route to start small while dreaming big. So, go forth and MULTIPLY-your friends and your money!
With inherent ingenuity, coupled by their well-known social nature, Filipinos have found and established a new business arena in a seemingly unlikely site- MULTIPLY.com.
Uniquely a Philippine practice, such inventive system in fact runs counter to the terms and conditions of the said social networking site. As evidently stated in its site, "the Multiply Website is for the personal use of individual members only and may not be used in connection with any commercial endeavors."
Indeed, most of the entrepreneurs happen to be first-timers. A number of them are students. Some are working professionals venturing in a supplementary source of income. Others have even taken such online enterprise as their bread and butter. Regardless of their background and motives, all of them are one in their purpose: to sell their products and services (ranging from food and food supplements, books, fashion items, novelty items, gadgets, and even branded items).
Multiply.com’s convenient and user-friendly format has rocketed itself as one of the hippest online shopping destinations for Filipinos. Apart from being a tax haven (since BIR unfortunately lacks resources to monitor such transactions), Multiply currently has YET to impose fees, quotas and other charges. Already being contemplated by the Multiply authorities, the creation of a formal commercial structure would certainly have a strong impact on these small-time Filipino merchants. Reception to such formalization would be diverse. The increased security and better payment and advertising facilities would be weighed against the merchant’s threshold for administrative and promotion costs.
In the ultimate analysis of such phenomenon, it can be maintained that e-commerce is undoubtedly a good route to start small while dreaming big. So, go forth and MULTIPLY-your friends and your money!
No comments:
Post a Comment