towards Justine Ireland D. tabile, Reporting
The Philippine Retailers Association (PRA) said it remains optimistic about its members’ sales prospects during the annual holiday season, even as they face spending that they fear will dwindle due to the problem of counterfeiting.
PRA Chairman Roberto S. Claudio was told Businessworld that retailers continue to expect sales growth of 10-15% over the full year.
“As the country faces ongoing economic challenges, PRA remains optimistic about the upcoming Christmas season – traditionally the peak and most prominent period for Philippine sales,” the group said in a statement.
“Despite the results, the positive energy and performance of Filipino consumers continues to weigh on industry confidence,” it added.
He said that this sector is counted in the creation of Filipino workers, which may have an impact this year due to the weakness of the Peso.
“We expect an influx of premiums, boosting spending on value gifts, household items, and personal purchases during the holiday season,” said Pra.
“We are encouraging retailers across the country to communicate their strong value propositions and prepare their teams, stores, and online channels to do more,” it added.
John Paolo R. Rivera, senior research fellow at the Philippine Institute for Development Studies, said he expects retailers to “see a high-quality Christmas season, holiday traditions, the last TRAffIC, and the need for inexpensive gifts. “
“However, growth will be more cautious than robust as households face cash losses from recent storms, high food prices, weak confidence, and weak conditions,” Viber said.
“Retailers that offer discounts, value packs, and flexible payment options will benefit greatly, as consumers prioritize what’s important while still finding room to celebrate,” he added.
Toby Allan C. ArcE, head of retail trading at Goalnks Securities and Stocks, Inc., said his outlook for sales at the end of the year.
“Sales should receive a strong boost from traditional drivers such as festive promotions, major shopping events, year-end bonuses, mandatory from brandis who want to get back to the ground after a weak year,” said Viber.
“E-Commerce and Omnichannel strategies will likely account for a growing share of the growing demand, while pop-up experiences, holiday activations, and bargains can drive foot traffic back to supermarkets,” he added.
However, he said the raised inflation, the decline of consumersefiTEN, and easy snags that can ease the demand.
“Other risk factors include the imbalance of cheap revenue in the use of value and discount channels or tax changes that affect the profitability of the revenue, and the competitive error that erodes the profit even if the volumes increase,” he added.
