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Philippine retail industry eyeing double-digit growth in 2013

The domestic retail industry is still far from a consolidation stage but is expected to continue a robust growth pace with double-digit growth as new concepts are being introduced and new players coming in.

“There are instances of mergers and acquisition instances but there is no major trend of consolidation. We are still in a pace of growth,” said Philippine Retail Association (PRA) president Frederick Go.

Go said the domestic retail industry in 2012 could have grown 10 percent over 2011 although PRA is still finalizing its data. He quoted data from the Business Monitor International, which showed that retail industry sales in 2011 reached PHP1.42 trillion (USD34.9 billion).