Philippines Economy to Elevate the Future of Retailing: Ken Research
·
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:
Related Reports
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204
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