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| (Image Source: Manila Standard/Home Credit Philippines) |
As 2023 comes to a close, the Philippines' leading consumer finance company Home Credit reveals an interesting trend in the local consumer market, and it happens to be an increase in the number of purchases of various commodities, particularly mobile phones with 1.7 million units financed. This surge in products sold was facilitated through Home Credit’s year-long promos, including the most recent 0% interest on installment financing.
This year, Home Credit saw a significant upswing in purchases across different categories, showing a shift in what consumers prefer. With a focus on empowering Filipinos to realize their personal and family goals, Home Credit’s offerings have reflected an evolution in lifestyle choices and aspirations. Among the highlighted categories, mobile and tablet purchases garnered the greatest number of units sold, indicating a continued reliance on these devices for work, education, and entertainment. The volume sold in this category, marked by an impressive 1.7 million units, showcases the enduring significance of these gadgets in everyday life. For this year, the brand to highlight is Apple which is now the top mobile brand for Home Credit with a 100% sales increase from last year.
Filipino consumers have also shown a marked interest in upgrading their living spaces. The appeal of modernizing households resonated strongly, evident in the 420,000 units of home appliances financed by Home Credit. The specifications of these appliances, tailored to enhance convenience and efficiency, have appealed to consumers seeking to upgrade their home appliances in time for the new year. Meanwhile, the demand for TV and electronics, computers, furniture, and other home improvement materials saw notable traction, signifying a desire for enhanced connectivity and comfort in homes. The specifications of these products, focused on delivering superior performance and comfort, have been key factors driving their popularity. When it comes to goods supporting sustainability, the demand has also been noteworthy, especially for e-bikes. This year, Home Credit has seen a 122% sales growth in e-bikes, a proof point in the growing trend of green living and alternative transportation products.
The introduction of The Great 0% Festival by Home Credit has been pivotal in driving these purchases. This limited-time promo offers holiday deals and 0% interest rates on installment plans, spanning from six to 18 months. Available at Home Credit partner stores and Shoppingmall.ph, these offers make lifestyle and tech products more accessible, promising an unforgettable holiday season for Filipino families. Don’t miss The Great 0% Festival! Make your dreams and aspirations this holiday season come true with Home Credit’s special offer, available until January 2024! For the latest updates and upcoming promos and deals from Home Credit Philippines, visit its official website at www.homecredit.ph and its official Facebook, X (formerly Twitter), Instagram, and TikTok accounts. Customers are also encouraged to download the My Home Credit App on Google Play to learn more about the latest promos and see what’s new in Shopping Mall Philippines at ShoppingMall.ph.
