PROSPECTS AND OPPORTUNITIES
Further expansion expected, alongside economic recovery and efforts towards greater financial inclusion
General merchandise stores are poised for steady value growth over the forecast period, measured in constant 2024 prices. As economic conditions improve and disposable incomes rise, department store operators will be able to position themselves as the go-to destinations for fashion and home shopping.
Variety stores will continue to thrive
Department stores will not be the only beneficiaries of the economic recovery - variety stores are also poised for significant gains. Despite Daiso's anticipated decline in the Philippines, established brands like Miniso, Mumuso, and Surplus are set to capitalise on the growing number of malls outside Metro Manila.
Omnichannel will become the new normal
While Robinsons Retail Holdings and SM Retail have long excelled in omnichannel strategies, other established general merchandise retailers are leveraging their ability to connect e-commerce with physical stores. For example, Rustan’s has bolstered its online presence by tailoring promotions around key holidays like Christmas, in combination with a gift guide designed to meet festive shopping needs.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores in Philippines?
- Which are the leading retailers in General Merchandise Stores 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?
General Merchandise Stores in the Philippines - Category analysis
KEY DATA FINDINGS
Increased mobility spurs growth for department stores
Variety stores benefit from continued outlet expansion
SM Retail Inc continues to dominate
Further expansion expected, alongside economic recovery and efforts towards greater financial inclusion
Variety stores will continue to thrive
Omnichannel will become the new normal
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
The following categories and subcategories are included:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
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 General Merchandise Stores research and analysis database.
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