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Home Furnishings in the Philippines

  • ID: 2145432
  • Report
  • April 2020
  • Region: Philippines
  • 21 pages
  • Euromonitor International
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With the positive economic prospects in the labour market, consumers had higher disposable income for big-ticket items in 2019, and amidst several policy changes impacting the country’s economy, home furnishings continued to benefit from Filipinos’ increased willingness to spend on household furniture. Over the year all categories performed well, with lighting, mattresses and sofa beds posting the fastest value growth, largely driven by an increase in new homeowners.

The Home Furnishings in Philippines report offers a comprehensive guide to the size and shape of market demand at a national level. It provides the latest retail sales data (historic date range), allowing you to identify the categories driving growth. It also identifies the leading companies and their brands, and offers strategic analysis of key factors influencing demand - from new product developments, consumer lifestyles, route to market and pricing issues. Forecasts to 2024 illustrate how market demand is expected to evolve in the medium-term

Product coverage: Homewares and Home Furnishings.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Home Furnishings market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
Note: Product cover images may vary from those shown
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Home Furnishings in the Philippines

List of Contents and Tables

HEADLINES

PROSPECTS
  • Positive economic prospects, higher disposal incomes and rising number of new homeowners drives higher value growth for home furnishings
  • Social media has become a most effective platform for generating interest and sales of home furnishings
  • Increased access to credit enables more consumers to purchase big-ticket home furnishing products
COMPETITIVE LANDSCAPE
  • SM Retail sells several home furnishings brands, but its private label Home World is by far the most successful
  • Blims Furniture and Mandaue Foam most effectively use social media to engage consumers while generating sales
  • As millennials are increasingly relevant consumers of home furnishings, leading mattress brand Uratex taps popular young Filipino-Italian actor-singer to appeal to this demographic as brand ambassador
CATEGORY DATA
  • Table 1 Sales of Home Furnishings by Category: Value 2014-2019
  • Table 2 Sales of Home Furnishings by Category: % Value Growth 2014-2019
  • Table 3 NBO Company Shares of Home Furnishings: % Value 2015-2019
  • Table 4 LBN Brand Shares of Home Furnishings: % Value 2016-2019
  • Table 5 LBN Brand Shares of Light Sources: % Value 2016-2019
  • Table 6 Distribution of Home Furnishings by Format: % Value 2014-2019
  • Table 7 Forecast Sales of Home Furnishings by Category: Value 2019-2024
  • Table 8 Forecast Sales of Home Furnishings by Category: % Value Growth 2019-2024
EXECUTIVE SUMMARY
  • Market growth remains strong, driven by rising number of new home buyers, first-time householders, and increased interest in gardening
  • Potential threat of IKEA’s 2020 entry into the local home and garden landscape has actually had a positive impact on local players
  • Home furnishings and homewares leader SM Retail maintains its clear lead in highly fragmented home and garden landscape
  • Home and garden specialist retailers dominate by offering one-stop shopping solutions for home renovations and new homeowners
  • Discerning younger consumers with higher incomes, new homes and people establishing their first households expected to drive growth
MARKET DATA
  • Table 9 Sales of Home and Garden by Category: Value 2014-2019
  • Table 10 Sales of Home and Garden by Category: % Value Growth 2014-2019
  • Table 11 NBO Company Shares of Home and Garden: % Value 2015-2019
  • Table 12 LBN Brand Shares of Home and Garden: % Value 2016-2019
  • Table 13 Penetration of Private Label in Home and Garden by Category: % Value 2014-2019
  • Table 14 Distribution of Home and Garden by Format: % Value 2014-2019
  • Table 15 Distribution of Home and Garden by Format and Category: % Value 2019
  • Table 16 Forecast Sales of Home and Garden by Category: Value 2019-2024
  • Table 17 Forecast Sales of Home and Garden by Category: % Value Growth 2019-2024
CORONAVIRUS (COVID-19)

SOURCES
  • Summary 1 Research Sources
Note: Product cover images may vary from those shown
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