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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 offers anyone the promise of becoming an instant entrepreneur. While typically more costly, buying a brand-name franchise lets anyone gain access to iconic symbols like McDonald's and its already existing consumers.
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