Blogs

Home | Blogs
Competition To Bring Cebu Retail Industry In The Pink Of Health
Jun 21, 2007

The arrival of more players in Cebu's retail market will make the country an attractive market for existing consumers as well as retailers.

According to Vice president of Metro Gaisano group of companies, various products offered by the stores would make them cheaper. "All rivals are considered as threats, but that's what we call business. Competitive rates of the products will cushion the financial crisis in the country", he said. Due to the increasing confidence of foreign and local investors in economy of Cebu, retail will be one of the sectors showing positive indications of growth in the year 2007. Investors are seeking growth and consistency & are very much confident about Cebu's flourishing economic situation.

At CBP (Cebu Business Park), higher consumer expenditure growth is estimated in the retail industry, which would further propel fiscal growth in the retail sector with the ongoing and forthcoming development projects.

The increasing number of malls and proliferation of retail developments on small scale in Cebu is the evidence of increasing consumer spending. Sales of retail business have been gradually growing year-on-year, with growth rate of double-digit. Occupancy percentage at malls is almost full, with a long applicants' lists.

"Besides the improving consumers in the Cebu, the number of tourists both local and foreign are increasing in the malls, as the huge contributor for growing retail sales", said an analyst at
RNCOS.

In the business of retail, tourism is another driver for expansion adding up that away from putting tourist-friendly signage like Japanese and Chinese written information in the mall's strategic part.

Canada's Government has also collaborated with Metro Gaisano group of companies to encourage Canadian products in the Cebu, Philippines. Tourist of Canada will be happy to see their products in Cebu and in all the places where the Gaisano store exists. Approximately 50 thousand to 55 thousand tourists come to the Philippines per year, however there are around four hundred Canadians in Cebu.

Cebu has better prospects for the products of Canada, even in the conventional market, because it offers large number of varieties to the consumers in term of food and non-food goods, cosmetics, groceries, and etc. With the more product varieties, consumers will be able to negotiate on product's prices.

Related Market Research Reports:
Indian Gems and Jewellery Market - Future Prospects to 2011
Women Wear Market Forecast to 2010
Global Convenience Store Market Analysis