After the electronics and appliance specialists channel began its recovery in 2022, it is expected to continue seeing positive growth rates in current value terms over the forecast period, albeit not returning to its 2019 sales levels until 2024. The recovery will be supported by the fact that some electronics and appliance products are seen as necessities by many consumers, with brands’ aggressive marketing and promotions anticipated to support this perception.
Accessibility will continue to shape purchases of appliances and electronics, which makes it important for retailers to ensure they have a digital presence that offers easy shopping. With major players like Abenson, SM Appliance and XTREME all having enjoyed success in developing their e-commerce capabilities, this should encourage other appliances and electronics specialists to support their bricks-and-mortar outlets with a strong e-commerce presence.
Alongside the country’s anticipated economic recovery, the forecast period will continue to see a rise in financial inclusion of consumers in the Philippines, which should be able to carry over into purchasing capabilities for products at appliances and electronics specialists. With the success of buy now, pay later (BNPL) offerings, consumers who have no access to credit cards will continue to enjoy avenues like BNPL to help them purchase items in instalments and therefore reduce the initial cash outlay.
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Understand the latest market trends and future growth opportunities for the Appliances and Electronics 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 Appliances and Electronics 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.
Appliances and electronics specialists are chained or independent retail outlets with a primary focus on selling one or more of the following categories: domestic electrical appliances, consumer electronics (including mobile phones), and/or computers and peripherals. Appliances and electronics specialists value sales excludes revenues derived from telecoms service plans and top-up cards. Example brands include Apple, Best Buy, and Gome.See All of Our Definitions
This report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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