Food Retail in The Philippines

A Progressive Digital Media business
MarketLine Industry Profile
Food Retail in
Philippines
August 2015
Reference Code: 0115-2058
Publication Date: August 2015
WWW.MARKETLINE.COM
MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
Philippines - Food Retail

MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
0115 - 2058 - 2014

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EXECUTIVE SUMMARY
Market value
The Filipino food retail industry grew by 2.2% in 2014 to reach a value of $29.8 billion.
Market value forecast

In 2019, the Filipino food retail industry is forecast to have a value of $36.3 billion, an increase of 21.8% since 2014.
Geography segmentation
Philippines accounts for 1.3% of the Asia-Pacific food retail industry value.
Market rivalry
Competition between players is fierce due to the limited level of product differentiation and consumer's negligible
switching costs, combined with a challenging and volatile industry environment.

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TABLE OF CONTENTS
Executive Summary ....................................................................................................................................................... 2
Market value............................................................................................................................................................... 2
Market value forecast ................................................................................................................................................. 2
Geography segmentation ........................................................................................................................................... 2
Market rivalry.............................................................................................................................................................. 2
Market Overview ............................................................................................................................................................ 7
Market definition ......................................................................................................................................................... 7
Market analysis .......................................................................................................................................................... 7
Market Data ................................................................................................................................................................... 8
Market value............................................................................................................................................................... 8
Market Segmentation ..................................................................................................................................................... 9
Geography segmentation ........................................................................................................................................... 9
Market distribution .................................................................................................................................................... 10
Market Outlook ............................................................................................................................................................. 11
Market value forecast ............................................................................................................................................... 11
Five Forces Analysis .................................................................................................................................................... 12
Summary .................................................................................................................................................................. 12
Buyer power ............................................................................................................................................................. 13
Supplier power ......................................................................................................................................................... 14
New entrants ............................................................................................................................................................ 15
Threat of substitutes................................................................................................................................................. 16
Degree of rivalry ....................................................................................................................................................... 17
Leading Companies ..................................................................................................................................................... 18
Puregold Price Club, Inc. ......................................................................................................................................... 18
Robinsons Retail Holdings, Inc. ............................................................................................................................... 19
SM Food Retail Group ............................................................................................................................................. 22
Macroeconomic Indicators ........................................................................................................................................... 23
Country Data ............................................................................................................................................................ 23
Methodology................................................................................................................................................................. 25
Industry associations ................................................................................................................................................ 26
Related MarketLine research ................................................................................................................................... 26
Appendix ...................................................................................................................................................................... 27
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About MarketLine ..................................................................................................................................................... 27

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LIST OF TABLES
Table 1: Philippines food retail industry value: $ billion, 201014 .................................................................................. 8
Table 2: Philippines food retail industry geography segmentation: $ billion, 2014 ......................................................... 9
Table 3: Philippines food retail industry distribution: % share, by value, 2014 ............................................................. 10
Table 4: Philippines food retail industry value forecast: $ billion, 201419 .................................................................. 11
Table 5: Puregold Price Club, Inc.: key facts ............................................................................................................... 18
Table 6: Robinsons Retail Holdings, Inc.: key facts ..................................................................................................... 19
Table 7: Robinsons Retail Holdings, Inc.: key financials ($) ......................................................................................... 19
Table 8: Robinsons Retail Holdings, Inc.: key financials (PHP) ................................................................................... 20
Table 9: Robinsons Retail Holdings, Inc.: key financial ratios ...................................................................................... 20
Table 10: SM Food Retail Group: key facts ................................................................................................................. 22
Table 11: Philippines size of population (million), 201014.......................................................................................... 23
Table 12: Philippines gdp (constant 2005 prices, $ billion), 201014........................................................................... 23
Table 13: Philippines gdp (current prices, $ billion), 201014 ...................................................................................... 23
Table 14: Philippines inflation, 201014....................................................................................................................... 24
Table 15: Philippines consumer price index (absolute), 201014 ................................................................................ 24
Table 16: Philippines exchange rate, 201014 ............................................................................................................ 24

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LIST OF FIGURES
Figure 1: Philippines food retail industry value: $ billion, 201014 ................................................................................. 8
Figure 2: Philippines food retail industry geography segmentation: % share, by value, 2014 ........................................ 9
Figure 3: Philippines food retail industry distribution: % share, by value, 2014 ............................................................ 10
Figure 4: Philippines food retail industry value forecast: $ billion, 201419 ................................................................. 11
Figure 5: Forces driving competition in the food retail industry in Philippines, 2014 .................................................... 12
Figure 6: Drivers of buyer power in the food retail industry in Philippines, 2014 .......................................................... 13
Figure 7: Drivers of supplier power in the food retail industry in Philippines, 2014 ...................................................... 14
Figure 8: Factors influencing the likelihood of new entrants in the food retail industry in Philippines, 2014 ................. 15
Figure 9: Factors influencing the threat of substitutes in the food retail industry in Philippines, 2014 .......................... 16
Figure 10: Drivers of degree of rivalry in the food retail industry in Philippines, 2014 .................................................. 17
Figure 11: Robinsons Retail Holdings, Inc.: revenues & profitability ............................................................................ 20
Figure 12: Robinsons Retail Holdings, Inc.: assets & liabilities .................................................................................... 21

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MARKET OVERVIEW
Market definition
The food retail market includes the retail sales of all food products, both packaged and unpackaged, as well as
beverages (including retail sales of all alcoholic and non-alcoholic beverages). All on-trade sales of food and beverage
are excluded. All currency conversions are calculated at constant average 2014 exchange rates.
For the purposes of this report, North America consists of Canada, Mexico, and the United States.
South America comprises Argentina, Brazil, Colombia, and Venezuela.
Europe comprises Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
Netherlands, Norway, Poland, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Turkey, and the United
Kingdom.
Scandinavia comprises Denmark, Finland, Norway, and Sweden.
Asia-Pacific comprises Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines,
Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Middle East comprises Saudi Arabia and United Arab Emirates.
Market analysis
Following a strong performance, growth in the Philippines food retail industry dropped to moderate in 2014. Some
deceleration in growth is expected in the forecast period.
Growth in this industry is largely being driven by the expansion of the modern retail sector in the country. What's more,
increasing urbanization and rising incomes are contributing to a growing industry.
The Philippines food retail industry had total revenues of $29.8bn in 2014, representing a compound annual growth rate
(CAGR) of 6.1% between 2010 and 2014. In comparison, the Indonesian and Chinese industries grew with CAGRs of
7.2% and 17.5% respectively, over the same period, to reach respective values of $61.6bn and $899.3bn in 2014.
Certain segments of this industry are performing particularly well. For example, the organic food market in the country
grew with a CAGR of 14% for the five year period 2010-2014.
Independent & specialist retailers accounted for the largest proportion of sales in the Philippines food retail industry in
2014. Sales through this channel generated $21.2bn, equivalent to 70.9% of the industry's overall value. Sales through
supermarkets / hypermarkets generated revenues of $8.0bn in 2014, equating to 26.8% of the industry's aggregate
revenues.
It is evident that modern trade in the Philippines is beginning to grow at the expense of traditional retail, with sales
through supermarkets and hypermarkets expected to increase in the coming years.
The performance of the industry is forecast to decelerate, with an anticipated CAGR of 4% for the five-year period 2014 2019, which is expected to drive the industry to a value of $36.3bn by the end of 2019. Comparatively, the Indonesian
and Chinese industries will grow with CAGRs of 6.3% and 9.6% respectively, over the same period, to reach respective
values of $83.7bn and $1,424.8bn in 2019.

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MARKET DATA
Market value
The Filipino food retail industry grew by 2.2% in 2014 to reach a value of $29.8 billion.
The compound annual growth rate of the industry in the period 201014 was 6.1%.
Table 1: Philippines food retail industry value: $ billion, 201014

Year
$ billion
PHP billion
billion
2010
23.5
1,044.1
17.7
2011
24.8
1,101.3
18.7
5.5%
2012
27.3
1,210.8
20.6
9.9%
2013
29.2
1,296.1
2.0
7.0%
2014
29.8
1,324.3
22.5
2.2%
CAGR: 201014
SOURCE: MARKETLINE
% Growth
6.1%
MARKETLINE
Figure 1: Philippines food retail industry value: $ billion, 201014
SOURCE: MARKETLINE

MARKETLINE
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MARKET SEGMENTATION
Geography segmentation
Philippines accounts for 1.3% of the Asia-Pacific food retail industry value.
China accounts for a further 38.9% of the Asia-Pacific industry.
Table 2: Philippines food retail industry geography segmentation: $ billion, 2014

Geography
2014
China
899.3
38.9
Japan
430.7
18.6
India
328.2
14.2
Indonesia
61.6
2.7
Philippines
29.8
1.3
563.6
24.4
2,313.2
100.1%
Rest of Asia-Pacific
Total
SOURCE: MARKETLINE
MARKETLINE
Figure 2: Philippines food retail industry geography segmentation: % share, by value, 2014
SOURCE: MARKETLINE

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Market distribution
Independent & Specialist Retailers form the leading distribution channel in the Filipino food retail industry, accounting for
a 70.9% share of the total industry's value.
Supermarkets / hypermarkets accounts for a further 26.8% of the industry.
Table 3: Philippines food retail industry distribution: % share, by value, 2014

Channel
% Share
Independent & Specialist Retailers
70.9%
Supermarkets / hypermarkets
26.8%
Convenience Stores
1.3%
0.0%
Other
0.9%
Total
100%
SOURCE: MARKETLINE
MARKETLINE
Figure 3: Philippines food retail industry distribution: % share, by value, 2014
SOURCE: MARKETLINE

MARKETLINE
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MARKET OUTLOOK
Market value forecast
In 2019, the Filipino food retail industry is forecast to have a value of $36.3 billion, an increase of 21.8% since 2014.
The compound annual growth rate of the industry in the period 201419 is predicted to be 4%.
Table 4: Philippines food retail industry value forecast: $ billion, 201419

Year
$ billion
PHP billion
billion
% Growth
2014
29.8
1,324.3
22.5
2.2%
2015
31.2
1,383.5
23.5
4.5%
2016
32.5
1,443.0
24.5
4.3%
2017
33.8
1,501.2
25.5
4.0%
2018
35.1
1,557.9
26.5
3.8%
2019
36.3
1,613.0
27.4
3.5%
CAGR: 201419
SOURCE: MARKETLINE
4.0%
MARKETLINE
Figure 4: Philippines food retail industry value forecast: $ billion, 201419
SOURCE: MARKETLINE

MARKETLINE
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FIVE FORCES ANALYSIS

The food retail market will be analyzed taking supermarkets, hypermarkets and specialist retailers as players. The key
buyers will be taken as end-consumers, and food manufacturers, farmers, agricultural co-operatives as the key suppliers.
Summary
Figure 5: Forces driving competition in the food retail industry in Philippines, 2014
SOURCE: MARKETLINE
MARKETLINE
Competition between players is fierce due to the limited level of product differentiation and consumer's negligible
switching costs, combined with a challenging and volatile industry environment.
A lack of switching costs and the limitations in product differentiation lead to buyer mobility, which forces larger retailers
to maintain attractive pricing schemes. There is a rising pressure laid on players to adapt to fast changing consumer
needs and the winner should be able to position the desirable product at a price suitable for customers and
manufacturers. Whilst specialist, luxury or organic retailers do not feel the same price sensitivity, they are not able to
secure a large volume of customers, and may have no choice but to commit to long term supplier contracts in order to
secure a steady supply, quality, or specifically prepared products.
Potential new entrants may struggle to compete with the aggressive marketing and pricing policies of the existing
players. Nonetheless, relatively low entry and exit costs, the emergence of thriving health and ethical niches which are
sheltered from direct competition from current players, and strong historical growth, offer attractive prospects.
Food service (takeaways, vendors and restaurants) can be seen as a substitute to food retail products, however for the
vast majority of people it currently exists as an occasional accompaniment rather than a wholesale alternative.
Subsistence farming is a more direct substitute, sometimes replacing standard retail behavior outright, yet it is no longer
a common practice in many parts of the world.

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Buyer power
Figure 6: Drivers of buyer power in the food retail industry in Philippines, 2014
SOURCE: MARKETLINE
MARKETLINE
The buyers in this industry are end-consumers. This significantly weakens buyer power; the loss of any one buyers
custom is unlikely to have a significant effect on a players revenues. Additionally, the standing of any individual
customer is diminished because of the sheer volume of potential customers. Having said that, the food retail industry in
the Philippines is still dominated by traditional retailers, such as bazaars and open air markets, which account for around
70% of food retail sales. As such, the loss of one customer in these circumstances is likely to have much more of an
impact than it would on a large retailer. Buyer power in this sense is increased.
In the Philippines, the food retail industry is vastly different from that of other countries, particularly Western markets.
Obesity is a significant issue in many Western countries, with governments and institutions introducing healthy eating
initiatives in an attempt to tackle the issue. However, in the Philippines the health issue surrounding food consumption
has tended to be malnutrition. It has been estimated that around 20% of children in the country are underweight, while
around 30% suffer stunting of growth. As such, while many Western markets have seen a culture of convenience
develop, with frozen and tinned food becoming the products of choice, this is not the case for the majority of the
population in the Philippines. The emphasis here has been on growing your own produce and shopping in open-air
markets. Furthermore, brand loyalty is likely to have very little influence here.
Overall, buyer power is assessed as moderate.

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Supplier power
Figure 7: Drivers of supplier power in the food retail industry in Philippines, 2014
SOURCE: MARKETLINE
MARKETLINE
Large retailers often maintain relationships with a wide range of suppliers, which ensures stability and helps to offset the
dangers of local sourcing problems or price fluctuations. This strengthens retailers standing in relation to their suppliers
as their dependency is reduced, meaning any risks to retailers are minimized.
Where possible, long term contractual obligations are avoided and switching costs are kept to a minimum. With a firm
hold on key distribution channels, the leading retailers can dominate negotiations with certain suppliers. Smaller retailers,
such as specialist, luxury or organic outlets may find such negotiations difficult. The limited number of suppliers in niche
areas and the centrality of product quality or preparation type restrict the available range of sourcing options. With
switching costs subsequently higher, the balance of power shifts somewhat from smaller retailers to specialist suppliers.
Backwards integration is possible, with some retailers growing their own produce and selling it on. This is particularly true
for small, independent retailers such as at open air market. In this case supplier power is reduced. On the other hand,
forward integration by suppliers is possible if a manufacturer/grower decides to establish retail operations.
Whilst the need to satisfy consumer demand for popular products bolsters manufacturers, many others face the problem
of a high degree of retailer mobility as they switch suppliers in accordance with pricing pressures. Supplier power has
been affected by the surge of many retailers offering own-brand products, which may sideline certain suppliers. Suppliers
who are able to differentiate their product can wield some power over retailers, should their product be popular with the
end consumer. However, for food retail a vast swathe of products are commodities (such as fruit and vegetables) and
homogenous, which diminishes supplier power.
Overall, supplier power is assessed as moderate.

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New entrants
Figure 8: Factors influencing the likelihood of new entrants in the food retail industry in
Philippines, 2014
SOURCE: MARKETLINE
MARKETLINE
The food retail industry in the Philippines is fragmented, with 70.9% of food retail being carried out through independent
and specialist retailers. As such, there are very differing retail landscapes within the country. On the one hand, there are
the traditional stores and market stalls, where market entry would be relatively easy. In these circumstances, scale
economies are of little importance, with many selling products that they grow themselves. Furthermore, fixed costs are
unlikely to be high, particularly with regard to market stalls.
On the other hand, there has been a huge growth in modern food retailing in the Philippines. Supermarkets and
hypermarkets account for over a quarter of all food retail sales in the country. As such, entry to the modern food retail
segment of the industry is problematic. Large-scale, established retailers, with operating businesses that benefit
significantly from economies of scale and the ability to employ aggressive pricing schemes, which cannot be matched by
smaller retailers, enjoy a significant advantage. Strong branding exercises and fast paced expansion deepens this
market control.
It is evident that modern trade in the Philippines is growing at the expense of traditional retail, which should theoretically
mean that there is room for more retail players to enter the industry. Industry growth has been good in recent years,
spurred on by strong economic growth and a growth in consumer spending. Such factors may appeal to potential new
entrants.
Overall, the likelihood of new entrants is assessed as moderate.

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Threat of substitutes
Figure 9: Factors influencing the threat of substitutes in the food retail industry in Philippines,
2014
SOURCE: MARKETLINE
MARKETLINE
There are few substitutes to food retail. The dominant alternative to food retail is food service. Strong marketing
campaigns in the case of fast food companies, and cultural traditions with respect to sit-down restaurants, mean both
types may represent a relative alternative for many consumers. However, for the vast majority of people, these
accompany food retail rather than replace it.
A more direct substitute is found in subsistence agriculture, in which individuals or families farm food to provide for their
own personal needs. However, the emergence of market capitalism, machinery that enables growing on a large scale,
and increased population density mean subsistence agriculture is no longer common. The impact of this substitute is
fractional. Environmental concerns, increasing health consciousness, and fears over political or economic instability may,
in the long term, give this substitute a more significant role. However, it is unlikely to threaten food retailers in the
foreseeable future being both labor intensive and often involving considerable start-up capital. The threat from
substitutes is assessed as weak.

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Degree of rivalry
Figure 10: Drivers of degree of rivalry in the food retail industry in Philippines, 2014
SOURCE: MARKETLINE
MARKETLINE
Competition is often fierce within the food retail industry. There are a number of large competitors in this market, which
face stiff competition with each other. In addition, there exists a large number of independent or specialty retailers
operating alongside these large incumbents.
Consumers face negligible switching costs, meaning retailers fight increased pressure to secure consumer's custom and
loyalty by attempting to cut prices. Larger retailers are pushed into competitive pricing policies due to the limited level of
differentiation across the basic product range. Rivalry is also increased by the close similarity of players, although they
may attempt to differentiate through products and price.
Following the recent global financial crisis customers generally tend to look for the same product in different retailers and
compare prices, due to higher levels of price sensitivity. The similarity of products means that customers are not so loyal
to the retailers and choose to shop elsewhere should the price be better.
Some companies operate in other industries as well offering electronics, home ware, apparel, pharmaceuticals and
more. This can help to absorb the temporary impact of declining food sales, or high supply price; however, food retail lies
at the heart of the business for many. This basic dependency gives rise to aggressive competition.
Rivalry is assessed as strong overall in this industry.

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LEADING COMPANIES
Puregold Price Club, Inc.
Table 5: Puregold Price Club, Inc.: key facts
Website:
Tabacalera Building, Ground Floor, No. 900 Romualdez Street, Ermita,

Manila, PHL
www.puregold.com.ph
Financial year-end:
December
Ticker:
PGOLD
Stock exchange:
Philippines
Head office:
SOURCE: COMPANY WEBSITE
MARKETLINE
Puregold Price Club (Puregold) is engaged in the business of trading goods such as consumer products, including
canned goods, housewares, toiletries, dry goods and food products on a wholesale and retail basis. It operates
hypermarkets under the name Puregold Price Club; a supermarket chain under the Puregold Junior name; discounters
under the Puregold Extra name; and supermarkets under the Company E name. The company sells its products to retail
consumers, and resellers and small to medium-sized stores, as well as canteens, restaurants, bakeries, convenience
and drug stores. The company operates in Philippines where it is headquartered in Manila and employs around 4,723
people.
Key Metrics
The company recorded revenue for the financial year (FY) ending in December 2013 of PHP73.2bn (about $1.7bn), an
increase of 27.3% over FY 2012. The net income accounted for PHP4bn (about $93.3m) an increase of 45.6% over
previous year.

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Robinsons Retail Holdings, Inc.

Table 6: Robinsons Retail Holdings, Inc.: key facts
Head office:
110 East Rodriguez Jr. Avenue, Bagumbayan, Quezon City, PHP
Telephone:
63 2 635 0751
Fax:
63 2 395 5160
Website:
www.robinsonsretailholdings.com.ph
Financial year-end:
December
Ticker:
RRHI
Stock exchange:
Philippines
MARKETLINE
Robinsons Retail Holdings, Inc. operates as a retail company in the Philippines. It operates in six segments:
Supermarkets, Department Stores, DIY Stores, Convenience Stores, Drug Stores, and Specialty Stores.
The company operates supermarkets under the Robinsons Supermarket brand. Its stores offer health and wellness
products, as well as fresh food items, such as meat and poultry products, seafood, dairy products, fruit, and vegetables.
It also operates department stores under the Robinsons Department Store brand, which provide menswear,
womenswear, and childrenswear, shoes, bags and accessories, as well as household items.
The company operates consumer electronics and appliances stores under the Robinsons Appliances name. Robinsons
Appliances offers televisions, audio visual equipment, home and kitchen appliances, mobile phones, computers, and
photographic equipment. There are currently 61 Robinsons Appliances stores in the Philippines.
Robinsons has a portfolio of 1,064 stores, which includes 91 supermarkets, 38 department stores, 126 DIY stores, 386
convenience stores, 239 drug stores, and 184 specialty stores.
Key Metrics
The company recorded revenues of $1,843 million in the fiscal year ending December 2014, an increase of 19.3%
compared to fiscal 2013. Its net income was $80 million in fiscal 2014, compared to a net income of $62 million in the
preceding year.
Table 7: Robinsons Retail Holdings, Inc.: key financials ($)

$ million
2010
2011
2012
2013
2014
1,025.1
1,107.3
1,323.2
1,544.7
1,843.4
9.1
10.9
27.0
61.8
80.2
Total assets
334.2
382.4
545.8
1,178.1
1,295.1
Total liabilities
208.2
236.2
364.3
322.5
366.2
Revenues
Net income (loss)
SOURCE: COMPANY FILINGS

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Table 8: Robinsons Retail Holdings, Inc.: key financials (PHP)

PHP million
Revenues
Net income (loss)
Total assets
Total liabilities
2010
2011
2012
2013
2014
45,508.6
49,157.3
58,741.8
68,574.9
81,834.2
402.1
483.1
1,199.6
2,745.0
3,560.6
14,835.5
16,977.0
24,231.9
52,300.8
57,494.0
9,241.1
10,487.8
16,174.5
14,318.4
16,257.8
MARKETLINE
Table 9: Robinsons Retail Holdings, Inc.: key financial ratios

Ratio
Profit margin
2010
2011
2012
2013
2014
0.9%
1.0%
2.0%
4.0%
4.4%
Debt/asset ratio
62.3%
61.8%
66.7%
27.4%
28.3%
Return on assets
5.4%
3.0%
5.8%
7.2%
6.5%
MARKETLINE
Figure 11: Robinsons Retail Holdings, Inc.: revenues & profitability

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Figure 12: Robinsons Retail Holdings, Inc.: assets & liabilities

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SM Food Retail Group

Table 10: SM Food Retail Group: key facts
Telephone:
One E-com Center, 10th Floor, Harbor Drive, Mall of Asia Complex CBP1A, Pasay City 1300, PHL
63 2 857 0100
Fax:
63 2 857 0132
Website:
www.sminvestments.com
Financial year-end:
December
Ticker:
SM
Stock exchange:
Philippines
Head office:
MARKETLINE
SM Food Group is the food retail arm of SM Investments. As of Q1 2015, it operated 40 supermarkets, 43 hypermarkets,
23 WalterMart stores, and 120 SaveMore branches across the Philippines.
SM Supermarkets are located in SM Malls and offer a wide range of food and non-food products. SM Hypermarkets offer
a large range of non-food items, alongside food products. The hypermarkets tend to be located in larger SM Malls or in
standalone locations. The company's SaveMore branded stores operate as smaller-format supermarket in neighborhood
locations.
Key Metrics
SM Food Retail Group generated revenues of PHP118.4bn ($2.7bn) in 2014, an increase of 10.3% since 2013. Net
income totaled PHP3.7bn ($83.3m) in 2014, an increase of 4.4% since 2013.

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MACROECONOMIC INDICATORS
Country Data
Table 11: Philippines size of population (million), 201014
Year
Population (million)
% Growth
2010
94.0
1.9%
2011
95.6
1.7%
2012
97.3
1.7%
2013
99.0
1.7%
2014
100.7
1.7%
SOURCE: MARKETLINE
MARKETLINE
Table 12: Philippines gdp (constant 2005 prices, $ billion), 201014

Year
Constant 2005 Prices, $ billion
% Growth
2010
131.1
7.6%
2011
135.9
3.6%
2012
145.2
6.8%
2013
155.6
7.2%
2014
165.1
6.1%
SOURCE: MARKETLINE
MARKETLINE
Table 13: Philippines gdp (current prices, $ billion), 201014

Year
Current Prices, $ billion
% Growth
2010
199.6
18.5%
2011
224.8
12.6%
2012
250.2
11.3%
2013
272.1
8.7%
2014
289.3
6.3%
SOURCE: MARKETLINE

MARKETLINE
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Table 14: Philippines inflation, 201014

Year
Inflation Rate (%)
2010
3.8%
2011
4.7%
2012
3.2%
2013
3.0%
2014
4.3%
SOURCE: MARKETLINE
MARKETLINE
Table 15: Philippines consumer price index (absolute), 201014

Year
Consumer Price Index (2005 = 100)
2010
129.1
2011
135.2
2012
139.5
2013
143.7
2014
149.8
SOURCE: MARKETLINE
MARKETLINE
Table 16: Philippines exchange rate, 201014

Year
Exchange rate ($/PHP)
Exchange rate (/PHP)
2010
45.2400
60.0785
2011
43.1844
60.1167
2012
42.2213
54.1180
2013
42.4393
56.3963
2014
44.3939
58.8841
SOURCE: MARKETLINE

MARKETLINE
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METHODOLOGY
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, crosschecked and presented in a consistent and accessible style.
Review of in-house databases Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLines in-house databases
provide the foundation for all related industry profiles
Preparatory research We also maintain extensive in-house databases of news, analyst commentary, company
profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market
overview
Definitions Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and
trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
-
National/Governmental statistics
International data (official international sources)
National and International trade associations
Broker and analyst reports
Company Annual Reports
Business information libraries and databases
Modeling & forecasting tools MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up-to-date

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Industry associations
Global Food Marketing Institute
655 15th Street, NW, Washington DC, 20005, USA
Tel.: 1 202 452 8444
Fax: 1202 429 4519
www.fmi.org
CIES The Food Business Forum

7, rue de Madrid 75008 Paris, FRA
Tel.: 33 1 4469 8484
Fax: 33 1 4469 9939
www.ciesnet.com
Related MarketLine research

Industry Profile
Food Retail in Western Europe
Food Retail in Europe
Food Retail in Asia-Pacific
Food Retail in the US

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APPENDIX
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can absorb key facts in minutes, not hours.
What we do
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Disclaimer
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MarketLine Industry Profile

Publication Date: August 2015

Philippines - Food Retail

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Market value forecast

Philippines - Food Retail

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About MarketLine ..................................................................................................................................................... 27

Philippines - Food Retail

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Philippines - Food Retail

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Philippines - Food Retail

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Philippines - Food Retail

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Table 1: Philippines food retail industry value: $ billion, 201014

Figure 1: Philippines food retail industry value: $ billion, 201014

Philippines - Food Retail

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Table 2: Philippines food retail industry geography segmentation: $ billion, 2014

Philippines - Food Retail

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Table 3: Philippines food retail industry distribution: % share, by value, 2014

Independent & Specialist Retailers

Figure 3: Philippines food retail industry distribution: % share, by value, 2014

Philippines - Food Retail

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Table 4: Philippines food retail industry value forecast: $ billion, 201419

Figure 4: Philippines food retail industry value forecast: $ billion, 201419

Philippines - Food Retail

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FIVE FORCES ANALYSIS

Philippines - Food Retail

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Philippines - Food Retail

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Philippines - Food Retail

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Philippines - Food Retail

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Philippines - Food Retail

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Philippines - Food Retail

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Tabacalera Building, Ground Floor, No. 900 Romualdez Street, Ermita,

SOURCE: COMPANY WEBSITE

Philippines - Food Retail

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Robinsons Retail Holdings, Inc.

110 East Rodriguez Jr. Avenue, Bagumbayan, Quezon City, PHP

SOURCE: COMPANY WEBSITE

Table 7: Robinsons Retail Holdings, Inc.: key financials ($)

SOURCE: COMPANY FILINGS

Philippines - Food Retail

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Table 8: Robinsons Retail Holdings, Inc.: key financials (PHP)

SOURCE: COMPANY FILINGS

Table 9: Robinsons Retail Holdings, Inc.: key financial ratios

SOURCE: COMPANY FILINGS

Figure 11: Robinsons Retail Holdings, Inc.: revenues & profitability