Media Releases

Philippines Economy to Elevate the Future of Retailing: Ken Research

Posted on 30 November 2016 by KenResearch Consumer Products and Retail ,

Major retailers acquired a large number of small and single propriety businesses.
Philippines have become one of the bright spots within the Asia Pacific Region among foreign or global brands.
Food and grocery retailers are the largest category group in 2015 and continue to dominate the country’s retail landscape.
Online channel is anticipated to grow the fastest in the forecast period.

Ken research announced its publication on “The Future of Retailing in the Philippines to 2020; Comprehensive data overview of the market, with retail sales value and forecasts to 2020,” which offers insights on the changing trends and key issues inside the Philippines Retail market. The production incorporates a shrewd investigation of the most recent trends in retail consumer shopping, covering the components driving retail shopping, customer insights, market trends and reviews of the most recent best practice in retail site design. In addition, it has comprehensive knowledge on fastest growing product categories and also on the key international and domestic players operating in the Polish retail market-including store counts and revenue. Retail sales and fastest-growing product categories have covered 26 product categories across 9 product groups such as footwear, clothing, books, news and stationary, electrical and electronics, food, health and beauty, furniture, sports and leisure equipments. The report further covers the overall retail sales of products through four channel groups including 17 individual channels such as Hypermarkets, supermarkets and hard-discounters; gardening supplies retailers; Food and drinks specialists; Online; Convenience Stores. This report will guide to explore the Performance of individual product categories, across significant channels from 2010, with forecasts until 2020-pinpoint the fastest growing categories in a market witnessing robust growth.

Retailing in the Philippines is anticipated to significantly develop alongside the continued improvement in the economy over the forecast period. The increasing disposable income of Filipinos will encourage further purchases of products within grocery and non-grocery categories. The noteworthy development in the private segment, which incorporates numerous organizations working under retailing, kept on boosting the nation's economy. Likewise, settlements from abroad Filipino workers, maintained development of the business procedure outsourcing (BPO) industry, and the lower inflation rate brought about expanded purchasing power that urged customers to purchase more frequently than expected. Because of this, retailers, particularly major ones, chose to further grow their outlets so as to deliver the requirements of a more extensive audience.

During significant development in terms of revenues was evident in both grocery and non-grocery retailing, there grocery retailers continued to possess a greater impact on the country’s retailing landscape, majorly because it offers products which are generic and essential to most consumers. The continued growth of the channel further elevated retailers to develop their current product line in order to deliver the growing and evolving needs of Filipino consumers regarding food, beauty and personal care, and home care. The review period witnessed the acquisition of single-propriety businesses concentrating on groceries, electronics and appliances by key retailers such as SM Retail Inc, Robinsons Retail Group and Puregold Price Club Inc. This specific step was carried out in order to cut down, if not eliminate competition with smaller endeavours, especially in areas where their presence is not yet felt.

To know more on the coverage, tap on the link underneath:

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

https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/department-stores-retailing-europe/62467-95.html

Contact:

Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204

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Positive Growth of Retail Industry in Philippines: Ken Research

Posted on 24 October 2016 by KenResearch Consumer Products and Retail ,

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

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