Despite growing economic concerns due to the policies and initiatives of the new government, apparel and footwear remained resilient in 2018. Rising inflation, the falling value of the Philippine peso and new tax laws negatively impacted consumer confidence and spending.
As a result of the economic conditions mentioned above, consumers are increasingly wary and protective of their disposable incomes. The number of smarter and price-sensitive consumers is on the rise, with basic goods competing with apparel and footwear due to higher prices compared to the review period.
Companies continue to focus on new modern promotional campaigns to make a positive impact and strengthen relationships with consumers. Such campaigns are in-depth and associated with current global social trends.
With the growth of malls across the country, companies are able to reach out to a bigger network of consumers, especially in semi-urban areas that are just starting to develop. These segments have much more opportunities for growth since, in key cities, there is already a high level of saturation.
From a global perspective, the Philippines continues to see a decline in key areas such as crime, corruption, the justice system, and many other significant social and economic measures. The country experienced a huge dip in global competitiveness in a recent report by the International Institute for Management Development (IMD) and Asian Institute of Management (AIM), falling by nine places due to a failure to improve unemployment and poor social and economic infrastructure.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Delivery: Files are delivered directly into your account within a few minutes of purchase.
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:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Clothing and Footwear market research database.