 |
| Image Courtesy: http://injapan.gaijinpot.com/ |
Because the Republic of the Philippines is modernizing their internal system of food retailing, this action is opening a window of opportunity for the exporters of F&B items to do business in the country. This comes at a good time, since this nation already has an established market for different dairy exports and a growing population in both rural and urban areas. The most common food and drink merchandise that Filipinos import and purchase include organic natural items that are based on seafood or vegetables, and wines and meat of top quality.
An Economics student who wants to work as a Philippine grocery exporter must know that the consumer spending of the nation is fueled by the BPO (Business Process Outsourcing) department and OFWs (Overseas Filipino Workers). In the year 2011, the BPO sector earned as much as US$11 billion, while the OFWs brought home around $23 billion in remittances. In that same year, hypermarkets and supermarkets made use of most of the dispersed $9.1 billion for their food packaging, and the smaller grocery retailers got to use the rest of the distributed funds.
Going back a year, the overall retail sales of the groceries reached $32 billion since the market was 67% taken over by the different grocery retailers. Tiny independent stores and “Sari-sari” stores (“sari” means variety, so these types of establishments are the same as convenience stores) are still the biggest grocery chains as far as overall sales are concerned. Buying grocery items increased in high and middle income customers who are located in urban areas, and even if the retail sales of supermarket items went up 24% during the years of 2005-2010, the hypermarket reaped the most benefits with a 33% growth factor.
Thanks to the efforts of a Philippine grocery exporter, independent food service chains that operated in 2010 dominated close to 80% of the market, and they raked in a total of $8.2 million. On the other hand, the traditional convenience stores are setting up more branches to cover a wider range and sell more imported items of top quality.
An Economics student who wants to work as a Philippine grocery exporter must know that the consumer spending of the nation is fueled by the BPO (Business Process Outsourcing) department and OFWs (Overseas Filipino Workers). In the year 2011, the BPO sector earned as much as US$11 billion, while the OFWs brought home around $23 billion in remittances. In that same year, hypermarkets and supermarkets made use of most of the dispersed $9.1 billion for their food packaging, and the smaller grocery retailers got to use the rest of the distributed funds.
Going back a year, the overall retail sales of the groceries reached $32 billion since the market was 67% taken over by the different grocery retailers. Tiny independent stores and “Sari-sari” stores (“sari” means variety, so these types of establishments are the same as convenience stores) are still the biggest grocery chains as far as overall sales are concerned. Buying grocery items increased in high and middle income customers who are located in urban areas, and even if the retail sales of supermarket items went up 24% during the years of 2005-2010, the hypermarket reaped the most benefits with a 33% growth factor.
Thanks to the efforts of a Philippine grocery exporter, independent food service chains that operated in 2010 dominated close to 80% of the market, and they raked in a total of $8.2 million. On the other hand, the traditional convenience stores are setting up more branches to cover a wider range and sell more imported items of top quality.
