Retailers see revenue growing by up to 15%

Retailers are expecting to grow their revenues by as much as 15 percent this year, banking on strong demand in the second half despite challenges faced by the sector, according to the Philippine Retailers Association.

- 

PRA chairman Roberto Claudio said the country's retail industry is hoping to book a 10-to 15-percent increase in revenues this year amid headwinds caused by the higher tariffs imposed by the United States on Philippine goods as well as weather disturbances.

“Everybody’s trying to push that,” Claudio told reporters on the sidelines of the National Retail Conference and Expo.

PRA president Alice Liu said the first half has been good for most retailers, given the midterm elections held in May.

Liu said elections typically result in increased liquidity that contributes to higher spending.

“We are a little bit cautious, but optimistic for the second half,” Liu said.