Boston, MA -- (SBWIRE) -- 02/09/2015 -- The Philippines has experienced resilient economic growth and this has helped elevate disposable incomes across the country. As a result, urban dwellers are becoming increasingly affluent and we expect rising household spending levels, particularly on non-essential luxury items . We also expect to see the expansion of 24-hour convenience store retailers, and the expansion of modern, high-end shopping mall formats in the largest cities.

Owing to a favourable economic environment over recent years, the Philippines have managed to elevate a large number of its population out of poverty while increasing overall disposable household incomes, particularly in urban areas. These economic improvements, as well as a relatively young population are fuelling the changes we now see in the Philippines retail market. Changes in spending-patterns are driving the demand for 24-hour convenience stores and we are also seeing the popularity of international fashion brands increase. Nonetheless, the country's rural areas have experienced less growth with the more traditional retail formats prevailing. Pavement vendors and open-air markets continue to play a crucial role in the rural retail landscape and we foresee less dramatic changes in this area over our forecast period.

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Owing to a favourable economic environment over recent years, the Philippines have managed to elevate a large number of its population out of poverty while increasing overall disposable household incomes, particularly in urban areas. These economic improvements, as well as a relatively young population are fuelling the changes we now see in the Philippines retail market. Changes in spending-patterns are driving the demand for 24-hour convenience stores and we are also seeing the popularity of international fashion brands increase. Nonetheless, the country's rural areas have experienced less growth with the more traditional retail formats prevailing. Pavement vendors and open-air markets continue...

The Philippines Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's Philippines Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits

- Benchmark BMI's independent retail industry forecasts for Philippines to test other views - a key input for successful budgeting and strategic business planning in the Philippine retail market.

- Target business opportunities and risks in Philippines through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.

Coverage

BMI Industry View

Summary of BMI?s key forecasts and industry analysis, plus a discussion of major industry developments and a snapshot of key short-term demand-driving macroeconomic movements.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the retail sector and within the broader political, economic and business environment.

BMI Industry Forecasts

There are four separate 5-year forecast modules in the retail reports. These are:

- Headline Retail Forecast: Total household spending (local currency and USDbn, % growth, % GDP, per capita, per household), spending by retail sector (food & non-alcoholic drink, alcoholic drink, clothing & footwear, housing & utilities, furnishings & home, health, transport, recreation, education, restaurants & hotels, personal care & insurance (local currency and USDbn, % growth, % GDP, % of total spending)

- Retail Sector Forecast: Breakdown of Food, Non Alcoholic Drink, Alcohol, Tobacco, Clothing, Footwear, Household Goods, Furnishings, Appliances, Glass and Tablewear, Household Textiles, Consumer Electronics, Garden Toys and Pets, Home and Garden tools, Personal Care, Personal Effects Spending (USDbn, % Growth)

- Household Income and Numbers Forecast: Number of Households (?000, % growth); gross income per household and per capita; net income per household and per capita; tax and social contributions per capita; breakdown of household incomes ? USD5000+, USD10,000+ USD50000+ (?000, % of total); labour force, employment and unemployment (?000, % change)

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