Pinoy online sellers urged to tap rising Israeli market

Filipino retailers are encouraged to start tapping the growing Internet retailing in Israel.

According to the latest study conducted by The Euromonitor Digest, released by the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB), internet retailing in Israel is expected to increase over the next five years as its consumers opt for cheaper products, providing huge business opportunities for international retailers, including Filipinos.

“Consumers enjoy the ability to purchase products directly from their home. As international brands can offer products at lower prices, consumers often prefer to purchase from international retailers,” said a report by a market research firm, Euromonitor.

It further said consumers are increasingly aware of imported goods as news articles compare the prices of local and overseas shops, along with the rise in locals travelling abroad and becoming acquainted with international prices.

In 2017, food and drink internet retailing generated the highest sales revenue, followed by apparel and footwear, and consumer electronics.

The report said consumers have started to import products themselves through international websites.

Consumers, however, also purchase from local companies as their delivery time is significantly faster, and there are no customs duties on orders over $75, a limit which is one of the lowest globally.

The government of Israel likewise plans to create a clear separation of personal imports and business imports, as the products do not have such when they enter the market and therefore they are all treated with strict guidelines.

“If the government eases the regulations on personal imports and increases the tax-free maximum, internet retailing could experience even faster growth in the forecast period,” the report added.