DRIVERS OF PHILIPPINE RETAIL LANDSCAPE GROWTH

The young demographics of the country, the rising disposable income of its young population, remain as key drivers of domestic consumption. There are other factors that drive the retail industry to grow such as:

Increased consumer spending due to reduced unemployment rate brought by the BPO and the overseas work. This 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. There is a high availability of financing channels.
Increase in Demand is leading to the growth of Organized Retail: Entry of foreign brands and consumers desire to try new brands is driving retail industry; this increases the availability of product options.
Omni Channel, the rise in a multi-channel sales approach that provides the customer with an integrated customer experience. The customer can be shopping online from a desktop or mobile device, or by telephone, or in a bricks and mortar store and the experience would be seamless.

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THE RETAIL INDUSTRY IN THE PHILIPPINES: PSYCHOGRAPHICS

What does the Philippine Retail Industry looks like? It is composed of diverse players, tapping on what appeals to the market considering the psychographics of Filipino consumers: Awareness of Global brands among Filipinos. With the advent of smartphones, access to internet and information, Filipinos are now more knowledgeable about the products available in the market. Changing Global Retail Landscape. More foreign brands want to invest in the Philippine Market. In the 2017 report of Cushman & Wakefield: How Global Brands are Shaping the Metro Manila Retailer Landscape, foreign brands view Philippines to be one of the key focus markets within the Asia Pacific region due to the rising disposable income of its young population and increasing demand for household consumption. Increasing preference for online shopping. With the convenience and product options e-commerce has to offer, more and more shoppers are now going online. Franchising of Brands. Franchising...

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E-COMMERCE PENETRATION IN THE PHILIPPINES

Although many prefer online shopping, it only amounts to 39% e-commerce penetration, as of end of 2017. According to We are Social and Hootsuite, e-commerce shoppers in the Philippines spent an average of $37 (Php 1,900) in 2017.

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