Consumer appliances in the Philippines experienced growth in 2018. Nearly all product categories recorded positive growth with air treatment products and home laundry appliances recording the strongest growth rates.
A substantial majority of consumers in the Philippines are price sensitive when it comes to purchasing consumer appliances. Although the average disposable income is rising, consumers still opt for affordable options and substitutes that they believe will enable them to save money.
Small appliances is primarily characterised by local players such as 3D and Imarflex while major appliances mainly features established non-local brands such as Panasonic and Sharp. Local players often leverage on the fact that their products are Philippine-owned, affordable and widely distributed in both traditional and non-traditional retailers.
Internet retailing remains largely insignificant in consumer appliances, despite the growing numbers of ecommerce retailers offering competitive prices and discounts. Consumer buying behaviour also inhibits its growth as consumers prefer to visit bricks and mortar outlets to seek advice from salespeople on consumer appliances that are most suitable according to their budget and needs.
The growth prospects for the forecast period for consumer appliances in the Philippines are robust due to the trifecta of demographic, socioeconomic and unmet potential in the market. The population is one of the largest in Southeast Asia and while the growth rate is projected to plateau in the coming years, it will still nonetheless be positive.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Appliances industry in Philippines with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Appliances market research database.