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The Philippine market is growing annually by almost nine per cent

The volume of the Philippine home improvement market currently reaches PHP 274.13 bn (EUR 4.75 bn). Photo: Pixabay/titus_jr0

The volume of the Philippine home improvement market currently reaches PHP 274.13 bn (EUR 4.75 bn). Photo: Pixabay/titus_jr0

Growth in the Philippines' home improvement industry will be faster in the next five years than it was from 2014 to 2018. That's what Euromonitor International states in a study commissioned by Philippine retailer AllHome.

In its market research dated August 2019 and attached to AllHome's prospectus for its planned public offer, Euromonitor forecasts a compound annual growth rate (CAGR) of 8.9 per cent for home and garden specialist retailing in the country for the period of 2019 to 2023. The market researchers estimate the current market volume to be PHP 274.13 bn (EUR 4.75 bn).

Brick and mortar stores are seen to dominate the market with a current sales volume of PHP 272.76 bn (EUR 4.73 bn) in 2019. However the sales of non-store shops with an average of 18.7 per cent are growing much more strongly.

The sales channels of DIY stores, hardware stores, garden centers, kitchen and bathroom showrooms, and tile and flooring specialists represent a market volume of PHP 111.65 bn (EUR 1.94 bn) according to Euromonitor International. The other part of the market volume is due to the second subchannel. These are homewares and home furnishing stores, specialists in furniture and furnishings, homewares, floor coverings, soft furnishing, lighting and others.

|20 September 2019 | 10:59


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