Retailing market sees more vibrant performance in 2012
With a better economic backdrop compared to 2011, the year 2012 sees more robust growth in the retail market, both in grocery and non-grocery channels. The industry has benefited from the increase in government spending on infrastructure, dynamic local tourism, strong BPO growth, and influx of OFW remittances. The Philippine economy remains to be largely driven by consumer consumption which has accelerated growth both for store-based and non-store channels.
Chained players expand in provincial areas
During the year, chained retailers continue to realise the increasing potential of fast growing cities outside of Metro Manila. With BPO moving beyond the National Capital Region and tourism flourishing in the southern provinces of Visayas and Mindanao, the establishment of more shopping centres in provincial cities in turn encourages the expansion of chained players in these areas. Aiming to tap emerging lucrative markets, companies like Philippine Seven Corp, SM Retail Inc and Robinsons Retail Group, among others, are keen on establishing a presence outside Metro Manila.
Grocery retailers surpasses non-grocery retailers sales growth
With players like Puregold Price Club and SM Retail Inc focused on growing their networks of stores, grocery retailers surpass growth of non-grocery channels in 2012. The growth of hypermarkets and supermarkets which sell non-grocery items like appliances, apparel and homeware, has been well accepted by middle- and low-income consumers. The trend for community shopping and value consciousness also supports growth of grocery retailers in 2012.
SM Retail Inc retains market dominance
The retailing industry in the Philippines continues to be dominated by small-scale independent players which serve a certain geographic area. Chained players continue to account for only a small proportion of sales amid their effort to expand their network of outlets. During 2012, SM Retail Inc remains the largest chained player with its involvement in shopping centre development and latterly in the establishment of smaller neighbourhood supermarket brand, SM Save More. This market leadership is also sustained by its dominance in hypermarkets, supermarkets and department stores.
Retail market faces good prospects in the medium term
With the Philippine economy expected to face better prospects in the medium term, the local retail market is also poised to show a better performance. Consumer and business confidence will be more upbeat, fuelling consumption and expansion among players. The entry of more foreign brands to the local landscape will stimulate growth and will likely inject more dynamism into non-grocery categories.
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The Retailing in Philippines market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic number of stores, selling space 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:
- How big is the grocery/non-grocery/non-store channel in Philippines?
- Who are the leading retailers in Philippines?
- How is retailing performing in Philippines?
- What is the retailing environment like in Philippines?
- Which channels are winning or losing in the fight for consumers’ money?
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This industry report originates from Passport, our Retailing market research database.