The “Retail Market In The Philippines by Product (Food and beverages, Personal and household care, Apparel and footwear, Electrical and electronics, and Others) and Distribution Channel (Offline and Online) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offerings. With ISO 9001:2015 certification, Technavio has been proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the retail market in the Philippines between 2021 and 2026 is USD 70.67 bn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The growing demand for convenience food products is one of the key market drivers. The hectic lifestyles and a rise in the number of working women have propelled the growth of the market. The preference for convenience food products, including processed meat and poultry products, is increasing. Other factors such as the rise in disposable income of the middle-class population will further fuel the growth of the market in focus during the forecast period.
However, factors such as the threat from counterfeit products will challenge market growth. The easy availability and increasing sales of numerous counterfeit products will make the optimum market penetration challenging for key players. This is driving the influx of fake products, especially through online/e-commerce platforms. These factors are adversely impacting the sales of major vendors and hampering the goodwill and image of genuine manufacturers. Counterfeit products cost less and are made up of low-quality raw materials that can be harmful to the health of consumers. Such factors are expected to negatively impact the growth of the market in focus during the forecast period.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
Market Segmentation
Based on product, the retail market in the Philippines is segmented into food and beverages, personal and household care, apparel and footwear, electrical and electronics, and others. The food and beverages segment will have significant market share growth during the forecast period. The growth will be fueled by the rise in prices of commodities and an increase in the purchasing power of people in regions such as Manila and Calabarzon. The Philippines is experiencing a rise in interest of consumers in imported goods, especially processed foods. This is expected to witness the highest growth rate during the forecast period
Based on distribution channel, the retail market in the Philippines is segmented into offline and online. The offline segment will have significant market share growth during the forecast period. The offline distribution segment is considered the most effective mode of distribution as it offers the touch-and-feel experience to consumers, considered the most influential means of marketing.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
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- Amazon.com Inc.
- Cosco Capital Inc.
- Fast Retailing Co. Ltd.
- Mercury Drug Corp.
- Metro Retail Stores Group Inc.
- New City Commercial Corp
- Robinsons Retail Holding Inc.
- Seven and i Holdings Co. Ltd.
- SM Investments Corp
- SSI Group Inc.
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