Sale of Apparel and Footwear in Philippines Observed Steady Growth CAGR of 7.3% during 2009-2014

The apparel and footwear market of Philippines has been influenced greatly by their native ancestors. Filipinos had conformed their way of dressing due to three factors, namely, colonial influence, media influence and climatic conditions. The apparel and footwear industry of Philippines had become quite famous for its unique products. Philippines apparel and footwear industry has been largely driven by the demand for various local and international branded products in the country. The native population has majorly used crude weaving in order to manufacture garments since the Spanish era. The country has been continuously witnessing an increasing business and consumer confidence which has been stimulated by increasing disposable income of buyers, especially among young professionals in urban areas.

The value chain of apparel and footwear in the Philippines has been divided into two major categories, namely, international and local production. The products which are manufactured internationally are imported through traders majorly using sea routes and are then distributed to retail outlets across the country. Foreign brands have targeted popular shopping malls, retail outlets and their exclusive stores to promote and their sell their products in the local Filipino market. On the other hand, local manufacturing of apparel and sportswear products undergoes a series of steps before the availability of the finished product.

The fashion industry in Philippines has been comprised of two major products, apparel and footwear. The demand of both apparel and footwear in the Philippine market has remained strong over the years despite of several down-face factors. The year 2014 witnessed a higher demand of apparel products in comparison to footwear. The total sales of apparel have showcased a higher percentage share of the market during the review period 2009-2014 due to the demand of higher variety of usage in the daily lives of people. The Philippines also possesses a more tropical climate with high humidity and rainfall. Hence, the people tend to change apparel products on a more frequent rate than footwear due to the impact of sweat on clothes.

The footwear and apparel market in the Philippines has been subject to seasonal fluctuations. The months of May, October and November were observed as the high sale months in the country. Additionally, it has been observed that Filipinos were significantly attracted by discounts and clearance sales in the seasonal months which have assisted in the growth of the overall apparel and footwear market. The segmentation of the Philippines apparel market has witnessed stiff competition between the population below 14 years of age and those above 14 years. In the year 2014, the percentage share of the total revenues generated by the sale of apparels to the population below 14 years of age is higher as compare to those above 14 years.

Local manufacturing organizations which produce apparel products have majorly exported their products to international markets. Higher demand in countries such as the US and Japan has enabled traders to thrive in the Philippine apparel market. Exports of apparel have showcased a fluctuating trend over the timeframe 2009-2014 and have reflected a CAGR of 4.6%. The major countries that registered apparel imports from Philippines include the United States of America, Japan, Republic of Korea, Canada and Germany.

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