PROSPECTS AND OPPORTUNITIES
Positive outlook, amid rising disposable incomes and growing financial inclusion
Appliances and electronics specialists will likely see continued growth in constant value terms (at 2024 prices) over the forecast period. Alongside the country’s anticipated economic recovery, this will be driven by a rise in financial inclusion in the Philippines, with consumers without access to credit cards being able to explore avenues such as buy now, pay later options, which will help them purchase items in instalments and avoid large initial cash outlays.
Smart homes will expand in popularity
The smart home technology market is poised for significant growth in the Philippines, unlocking substantial opportunities for industry players. This surge will be further bolstered by innovative smart home designers like Orvibo and Smart House Philippines, whose cutting-edge solutions are accelerating the adoption of smart appliances among Filipino households.
Omnichannel strategies will play key role
Omnichannel strategies will play a crucial role in driving demand for appliances and electronics going forward. With major players like Abenson, SM Appliance, and XTREME achieving success through robust e-commerce platforms, other specialists will be encouraged to enhance their brick-and-mortar outlets with a strong digital presence.
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Overview:
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.
The Appliances and Electronics Specialists in Philippines report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Appliances and Electronics Specialists in Philippines?
- Which are the leading retailers in Appliances and Electronics Specialists in Philippines?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Appliances and Electronics Specialists in the Philippines - Category analysis
KEY DATA FINDINGS
Economic recovery benefits appliances and electronics specialists
Financial inclusion spurs demand
Smart homes represent the next frontier for Philippine electronics and appliances retail
Positive outlook, amid rising disposable incomes and growing financial inclusion
Smart homes will expand in popularity
Omnichannel strategies will play key role
Retail in the Philippines - Industry Overview
Retail in 2024: The big picture
SM Retail maintained its dominance
Ongoing digitalisation of retail channels and payment methods
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Christmas Season
Back to School
DISCLAIMER
Appliances and Electronics Specialists
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 definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Appliances and Electronics Specialists research and analysis database.
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