Heightened competition slows down value growth
Competition intensified with the entry of international fast fashion brands and online retailers which provide discounted apparel, leading to a decline in value growth. The consumers’ focus on achieving a particular look rather than on the brand one wears, brought a liberal view in fashion where luxury brands are freely mixed with affordable ones. This has resulted in consumer preference for stylish, lower priced apparel which allows consumers to purchase numerous pieces which they constantly update in line with the latest fashion trends.
Online retailing grows
Online retailing is in its infancy in the Philippines. High preference for brick-and-mortar stores exists among consumers. The growth in the number of online retailers and apparel companies offering their products online, however, points to possible shifts in the distribution channel in the long-run. Selling sites that recently entered the market offer consumers a wide array of local and international brands, price discounts and waived delivery charges.
Home-grown Suyen Corp maintains its leadership
Local company Suyen Corp, which has a wide product portfolio sold under the brands Bench, herBench, Human and Kashieca, maintains its lead in the apparel industry in 2012. The company provides fashionable apparel for men, women and children that is affordable, widely distributed and of reasonable quality. The company invests in marketing activities and has foreign celebrities as the face of the brands, which helps command consumer attention and aids in brand recall.
Department stores remains the key distribution channel
Consumers continue to prefer department stores when purchasing apparel in 2012. Department stores which house local, international and private label apparel provide shopping convenience for consumers looking to purchase clothing, footwear and sportswear that will match their style and budget requirements. They likewise have numerous outlets located within and outside the city which are easily accessible to consumers. Department stores also regularly hold mall-wide sales which can draw crowds of people who want to take advantage of the price discounts available.
Improved performance expected over the forecast period
Apparel is predicted to post better value growth over the forecast period compared to its review period performance. The health and wellness trend is expected to encourage more consumers to engage in different sports and fitness activities that will propel growth of the sportswear industry. The apparel market is likewise expected to benefit from the improvements in the economy and the increase in purchasing power that it will bring to consumers. The increase in the number of industry players presents consumers with improved choices which will allow them to update and upgrade their styles according to their economic status.
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Discover the latest market trends and uncover sources of future market growth for the Apparel and Footwear industry in Philippines with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Apparel and Footwear industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.
The Apparel and Footwear in Philippines market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Apparel and Footwear in Philippines?
- What are the major brands in Philippines?
- How dynamic is the growth of clothing and footwear internet sales?
- What is the performance of women’s clothing vs men’s clothing?
- What % of clothing and footwear sales goes through grocery retailers?
Why buy this report?
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This industry report originates from Passport, our Clothing and Footwear market research database.