Filipina entrepreneurs in the local e-commerce space suffered more from the pandemic fallout than their male counterparts, reinforcing observations the health crisis is disproportionately hurting women.
Research by the International Finance Corporation, a member of the World Bank Group, released Thursday found that women-owned businesses in the country outsold men by 106% in terms of gross merchandise value before the pandemic struck.
The study, conducted from May to June 28 last year, covered entrepreneurs in Lazada, the Singaporean e-commerce platform that has increased its foothold in the country’s Philippine e-commerce sector during the pandemic. Prior to the health crisis, Filipinas ran and owned two-thirds of businesses in Lazada.
But that all changed when the pandemic struck. While the number of businesses owned by women increased by 66%, items sold by these enterprises dove dramatically by 106%.