PROSPECTS AND OPPORTUNITIES
Home product specialists to see positive revenue gains, in line with economic growth
During the forecast period, home products specialists in the Philippines are expected to see a vastly improved performance, in line with the anticipated economic recovery. With consumer confidence on the rise, property developers are likely to invest in new projects - such as condominium units - which will, in turn, boost spending on home improvements, homeware, and home furnishings.
BNPL will be instrumental in driving growth
Despite expected growth in employment and disposable incomes in the coming years, many Filipinos will find it a challenge to find the money to pay upfront for large home improvement projects. Consequently, it will be important for leading retailers in the channel, such as Wilcon Depot, Blims Fine Furniture, Handyman Do it Best and SM Homeworld, to offer buy now, pay later schemes for consumers without a credit card.
E-commerce will grow in prominence
Despite the importance attached to the advice of sales staff in bricks-and-mortar stores when purchasing home products, e-commerce is expected to grow in prominence over the forecast period. Filipinos have become much more accepting of making purchases online, given the increasing smartphone and internet penetration in the country.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Products 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 Home Products 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 Home Products 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 Home Products Specialists in Philippines?
- Which are the leading retailers in Home Products 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?
Home Products Specialists in the Philippines - Category analysis
KEY DATA FINDINGS
Home product specialists see sustained growth
Homewares and home furnishing stores benefit from increased activities of local designers
Wilcon continues as leading player, but Citi Hardware makes strides
Home product specialists to see positive revenue gains, in line with economic growth
BNPL will be instrumental in driving growth
E-commerce will grow in prominence
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:
Home Products Specialists
- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
Home Products Specialists
The aggregation of home improvement and gardening stores, homewares and home furnishing stores, and pet shops and superstores.
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 Home Products Specialists research and analysis database.
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