Retailers still positive about sales during holidays

THE Philippine Retailers Association (PRA) said it remains optimistic about its members’ sales prospects during the year-end holidays, even in the face of fears spending will be dampened by the corruption crisis.

- By Justine Irish D. Tabile Reporter

(PHILIPPINE STAR/RYAN BALDEMOR)

PRA Chairman Roberto S. Claudio told BusinessWorld that retailers continue to expect sales growth of 10-15% over the full year.

“As the country navigates ongoing economic challenges, the PRA remains optimistic about the upcoming Christmas season — traditionally the busiest and most vibrant period for Philippine retail,” the group said in a statement.

“Despite headwinds, the resiliency and resourcefulness of Filipino consumers continue to anchor industry confidence,” it added.

It said the industry is counting on overseas Filipino worker remittances, which could have an outsized impact this year because of the peso’s weakness.