By Malaya Business Insight
Four Philippine companies landed in the top 100 retailers in Asia-Pacific, Euromonitor International said in a report released yesterday.
The Top 100 Retailers in Asia 2021 placed SM Retail Inc., the country’s top retailer, at 62nd among retailers in 15 countries in the region with sales of $5.4 billion in 2020 although this is down 14 percent from $6.3 billion in 2019.
Mercury Drug Corp., Puregold Price Club Inc. and Robinsons Retail Holdings Inc. , the country’s second, third and fourth to retailers, respectively, placed 83rd, 85th and 99th, respectively in the Asia-Pacific list.
The report measured sales of new and used goods to the general public for personal or household consumption, both store-based and non-store based.
The report cited the growing trend that marked retailing in the Philippines during the pandemic in 2020 — community stores or stores situated in nearby communities/ neighborhoods, which existed prior to the new coronavirus 2019 (COVID-19).
“This trend is particularly driven by Alfamart, a minimart that is a hybrid between a supermarket and a convenience store. The concept increased in relevance in 2020 as consumers looked for the most convenient ways to complete their shopping trips, with the trend expected to continue in the forecast period (until 2025),” the report said.
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