PHILIPPINE AS THE NEXT RETAIL DESTINATION

The Philippines remains at the forefront of the Asia Pacific (APAC) growth, underpinned by solid macro fundamentals that are driving sustained positive economic expansion. The country posted a 6.7% Gross Domestic Product (GDP) growth at the end of 2017.

Strong investment in infrastructure and construction, and solid household consumption, stimulated by low inflation and interest rates, boosted the economic growth of the country.

Beyond these indicators, the potential gains from the demographic dividend combined with the large volume of mall space and competitive occupancy costs remain as its two distinct advantages, overall, which should help the country become one of the attractive retailer destinations in APAC.

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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.

The Digital Economist

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