Market Report, "Philippines Retail Report Q1 2014", published

From: Fast Market Research, Inc.
Published: Thu Dec 19 2013


The Philippines retail sector is set to continue to grow over the next few years, with an expanding population, with increasing levels of disposable income, resulting in a strong rise in household spending across all retail subsectors. We are particularly positive about the future growth prospects for health, transport and communications; however, we expect the highest proportion of the household budget to be spent on food & drink throughout our forecast period, with personal care and insurance spending also taking a substantial share.

The new Philippines retail report provides an extensive and comprehensive forecast of various retail indicators including household spending and headline total spending across each retail subsector, household income and employment forecasts, demographic forecasts and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, clothing & footwear, household goods and a number of other subsectors.

Full Report Details at
- http://www.fastmr.com/prod/752055_philippines_retail_report_q1_2014.aspx?afid=301

The Philippine retail landscape is still dominated by neighbourhood sari-sari convenience stores, pavement vendors and open-air markets, especially in rural areas. However, consumers are increasingly buying more goods in supermarkets and hypermarkets, attracted by promotions and affordable packs. In the Manila metropolitan area (Metro Manila) and other major urban areas, small grocery stores, convenience stores and gas-marts are being joined by supermarkets, hypermarkets, department and speciality stores, as well as by modern shopping malls.

In a country in which more than 30% of the population is in the 20-39 years age range, important for household spending on the retail sector, 'mega-malls' are attracting young consumers who aspire to the international brands that are increasingly becoming available. The wide choice of goods and leisure facilities available in the country's shopping malls also appeals to overseas foreign worker families, who have a strong shopping culture.

We see long-term potential in the Philippines consumer market, particularly for non-essential items and aspirational purchasing by younger consumers whose incomes are rising. We forecast the average net household income will be US$6,737 in 2013, with almost half of households falling into the bottom wage bracket of US$5,000+, and only just over 14% of households earning US$10,000 or more. However, by 2018, almost 30% of households are expected to be in this middle-income bracket, which represents the key demographic for increased household spending on luxury items beyond necessities such as food, utilities and transport. We expect a corresponding increase in household spending on furnishing & home, clothing & footwear, communications, personal care and restaurants & hotels.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Indonesia Retail Report Q1 2014
- China Retail Report Q1 2014
- Malaysia Retail Report Q1 2014
- Croatia Retail Report Q1 2014
- Chile Retail Report Q1 2014

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »