Philippines’ retail sector seen to have ‘soft’ recovery next year

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Photo by Tirachard Kumtanom from Pexels

By: ABS-CBN News

The Philippines’ retail sector is expected to have a soft recovery in 2021 as COVID-19 related risks and uncertainties still hound the country, according to an industry group and an analyst.

In an interview with ABS-CBN News, Rosemarie Ong, president of the Philippine Retailers Association, said the prospects for the local retail sector may still be soft for some categories as long as the COVID-19 pandemic is still present.

“We have to be realistic. There are some sectors that are really very bullish, very optimistic about 2021. But generally, it will remain soft for as long as the virus is there,” Ong said.

She noted retailers who sell food, home, personal care and health products will see brighter growth next year, as these categories posted a 50-percent surge in revenues even at the height of the pandemic.

Likewise, products used in work-from-home set-ups, like electronic gadgets and some furniture, are seen to be performing well.

 

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