As the Philippines gears up for its longest and most-awaited holiday season, Home Credit Philippines (HCPH), the country’s leading consumer finance company, has revealed a snapshot of the most popular products purchased by Filipino consumers during the 2023 holiday period.
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2023 Holiday Shopping Trends: Top Commodities for Filipinos
Mobile phones and tablets, home appliances, televisions, electronics, and computers were the top categories that saw significant demand during the 2023 holiday season. This trend was driven by the success of HCPH's Great 0% Festival, which enabled customers to make purchases through flexible installment plans with no interest, making it easier for them to gift themselves and loved ones without financial strain.
According to HCPH, their fourth-quarter sales for 2023 reached an impressive PHP 16.3 billion—accounting for 32% of their total sales for the year. December alone contributed PHP 7.3 billion, showcasing the holiday shopping rush as consumers made last-minute purchases for gifts and rewards.
The Most In-Demand Items
The sales data revealed that mobile phones and tablets were the standout products, comprising 53% of total sales, amounting to PHP 8.6 billion. Popular brands such as Apple, Samsung, OPPO, Vivo, Honor, and Xiaomi were at the forefront, as many Filipinos took advantage of the 0% interest installment deals to upgrade their gadgets.
Following closely were home appliances, which made up 15% of total sales. Brands like Panasonic, Condura, Samsung, LG, and Fujidenzo were the favorites among shoppers looking to gift practical and functional items to their families.
The television and electronics category also performed strongly, with brands like TCL, Samsung, LG, Skyworth, and Sony leading the charge in sales.
A Helping Hand to Filipinos
“At Home Credit, we recognize our role as a reliable partner in helping Filipinos achieve their aspirations. This is why we launched The Great 0% Festival last year—to provide flexible payment options with no interest, allowing more people to enjoy a wide array of products. Our 2023 sales figures show just how much Filipinos embrace the holiday spirit, whether it's gifting loved ones or rewarding themselves for their hard work throughout the year," said Puneet Suneja, Chief Sales Officer at Home Credit Philippines.
Looking Ahead: A Stronger 2024 Holiday Season
As the 2024 holiday season approaches, HCPH is anticipating even greater success. The company projects a 25% increase in sales compared to the PHP 16 billion recorded last year. This surge is expected to be fueled by strong demand for mobile phones, home appliances, electronics, furniture, e-bikes, sporting goods, and even motorcycles—categories that saw remarkable performance in the months leading up to the holidays.
Todo Pasko with Home Credit: Exciting Holiday Deals Await
In keeping with the festive spirit, HCPH is set to offer more exciting deals and flexible financing options this holiday season. With a wide range of products available through partner stores, shoppers can enjoy 0% interest installment plans from six to 24 months, along with the possibility of no downpayment for eligible customers. Whether it's gadgets, home essentials, furniture, or even outdoor equipment, HCPH is making it easier for Filipinos to purchase gifts and reward themselves without the financial stress.
With over 15,000 partner stores across 75 provinces nationwide, HCPH ensures these offers are widely accessible. The application process is quick and easy, requiring just one valid ID and a one-minute approval time. This makes holiday shopping more convenient for Filipinos looking to finance their purchases.
Embracing the Spirit of Giving
"Many Filipinos face daily financial challenges, living paycheck to paycheck. This holiday season, we want to make it easier for everyone to enjoy a truly special and meaningful celebration. Through our incredible offers and flexible deals, we hope to help Filipinos fully embrace the holiday spirit of giving—whether it’s to themselves or their loved ones," Suneja concluded.
As we move into the 2024 holiday season, Home Credit Philippines is ready to spread more joy with its Todo Pasko campaign, ensuring that every Filipino can make this holiday season even more memorable.
Stay tuned for updates on Home Credit’s upcoming offers and deals, and get ready to celebrate the season in style!
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