Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Positive Growth of Retail Industry in Philippines: Ken Research

Monday, October 24, 2016 2:48
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Ken Research announced latest publication titled “The Future of Retailing in the Philippines to 2020; Comprehensive data overview of the market, with retail sales value and forecasts to 2020” discuss extensive, cross-country, industry research program which brings together Verdict Retail’s research, modeling, and analysis expertise in order to develop uniquely detailed market data. It provides detailed quantitative analysis of past and future trends-crucially providing retail sales data not just by channel and by product, but showing product sales through different channels.

Philippine economy is in a good state. Retail sales growth is expected to increase and the country’s GDP is also rising. The sound position of the economy is increasing the sales of retailers. Increase in disposable income is allowing consumers to purchase more of retail products. Also lower inflation is increasing purchasing power of the households. Philippines is promising wealth to the retailers. Foreign brands are trying to get entry in to the market with the help of local distributors.

Overview of Philippines retail Industry

Retail industry is flourishing in Philippines. Increase in GDP and sound position of the economy is allowing consumers to spend more. There are two categories for the retail products: grocery and non-grocery items. Grocery retailers are dominating the retail market because grocery items consist of essential commodities which every household needs to buy and thus, this category has a high demand.

The top companies are: SM Retail Inc., it is country’s leading retailer with various department stores. Its stores have items like toys, homecare, personal care and hardware items. Company is maintaining strong position in the competitive retail market. The competitor company is Robinsons Retail Group. It is the second largest multi-format retailer in Philippines. Company has a deep understanding of what Philippines consumers demand with 30 years of experience and operates in six segments:  supermarkets, department stores, DIY stores, convenience stores, drug stores and speciality stores. Another competitor is Puregold Price Club Inc. It has more than 200 stores worldwide. It is listed under Philippines stock exchange and engaged in business of consumer products on retail and wholesale basis

Retail industry in Philippines at a glance

  • Many people prefer online shopping
  • Various foreign brands in the market
  • Awareness of global brands among Filipino’s
  • Franchising of brands

Key Driving Factors in retail industry in Philippines

  • Increase In Consumer Spending: Unemployment has reduced over the years and increase in income of the households is boosting retail sales
  • Easy Bank Loans: Bank is offering credit with easy terms to the  retail companies and financing up to 60% of capital
  • Increase in demand is leading to growth of Organised Retail: Entry of foreign brands and consumers desire to try new brands  is driving retail industry

Future of Retail Industry in Philippines

Retail industry is expected to grow in the Philippines with the improvement in the economic situation of the country. Consumers are expected to have higher disposable incomes in the future period. Thus, they will spend more on grocery and non-grocery items and it will lead to high sales in retail market. Various foreign companies are introducing their brands with the help of local dealers in the strong market of Philippines to increase sales of their product. Philippines retail market already has so many brands and more will be added in the forecast period.

To know more on “Future of retailing in Philippines” click on following link:

https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/future-retailing-philippines/40163-95.html

Related links:

https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/future-retailing-belgium/21551-95.html
https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/future-retailing-denmark/21552-95.html
 

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.