Apparel and Footwear Specialist Retailers in the Philippines

PROSPECTS

Fast fashion players dominate the channel

While many apparel and footwear players in the Philippines are generally witnessing a slowdown in sales, this is not the case with global fast fashion giants such as Fast Retailing, Forever 21 and H&M. Fast Retailing, with its Uniqlo brand, is focusing on further expansion and is set to open its biggest store in Southeast Asia in the Philippines, which will cover an area of 4,100 sq m, indicating that the company sees the Philippines as one of the key growth engines for the brand globally.

Demand for athleisure continues to rise

Active lifestyle trends have been shaping retail products and services as more consumers try to live healthier lives. This trend has also reached apparel and footwear, enabling brand owners to introduce activewear to match this new lifestyle.

Sustainability not yet a pressing concern but brand owners are starting to act

Other countries are witnessing the decline of fast fashion brands as for more and more consumers sustainability has become a pressing issue. While this is not yet a common concern among Filipinos, some brand owners are already thinking ahead and are taking action to address any impending issues.

COMPETITIVE LANDSCAPE

Increasing competition from e-commerce

Clothing and accessories are among the leading products bought online, with this situation encouraging retailers to not only strengthen their own e-commerce sites but also ensure a presence on third party platforms to further expand their reach. Moreover, local shoppers are likely to become more price-sensitive in the future due to higher prices as a result of inflation.

Stores Specialists Inc reduces its store network

Stores Specialists Inc (SSI), the operator of various fashion brands in the Philippines, continued to reduce its number of outlets in 2018, instead placing more of a focus on food and beverages. SSI said, however, that this rationalisation programme has always been part of its strategy as it constantly reviews the performances of its brands.

Bench opens a flagship store while NBA Stores exits the Philippines

As international brands continued to expand their presence in the country, Bench and other local apparel players revamped their physical stores and sought to improve the overall experience offered to their customers. Bench opened a new flagship store in Bonifacio Global City in December 2017, with this outlet being bigger than its other stores, covering three floors.

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