With a positive development of the local economy expected in the Philippines over the forecast period, the apparel and footwear specialists channel is expected to benefit from this, as well as the easing or lifting of COVID-19 restrictions and the subsequent greater mobility of shoppers. For growth to be robust, it is imperative that retailers are able to adapt efficiently to changing consumer demands and evolving market conditions.
Apparel and footwear specialists will benefit from the increasing financial inclusion of non-credit card holders who want to have less upfront cash outlay when making purchases at these retailers. Despite the growth anticipated in the economy, the inflationary global environment could make shoppers more cost-conscious, which will see a growing call for BNPL schemes for shoppers who do not have a credit card.
The market conditions changed drastically at the height of the COVID-19 pandemic, which helped drive apparel and footwear specialists towards ensuring that their customers could switch to e-commerce, if needed, a process that was ongoing in 2022. While bricks-and-mortar stores enable shoppers to physically see and try on apparel or footwear in an outlet, the pandemic encouraged shoppers to shift their shopping online, which could be easily done as long as they knew their size.
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Understand the latest market trends and future growth opportunities for the Apparel and Footwear Specialists industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Apparel and Footwear Specialists industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Apparel and footwear specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: clothing, footwear, and/or fashion accessories (costume jewellery, sunglasses, belts, hats, gloves, handbags, scarves, etc.). Apparel specialists include specialty apparel like wedding dress shops. Example brands include Primark, TJ Maxx, and Zara. Sportswear retailers, such as Adidas and Nike, are excluded from this channel and are included in Sports Goods Stores; this is due to the companies considering themselves sports companies as opposed to apparel companies.See All of Our Definitions
This report originates from Passport, our Apparel and Footwear Specialists research and analysis database.
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