Home Credit sees 25% surge in holiday sales

MANILA, Philippines — Home Credit Philippines (HCPH), the country’s leading consumer finance company, is poised for a significant boost this holiday season, forecasting a 25-percent increase in sales compared to last year’s P16 billion.

In a statement, HCPH said Christmas is typically the time where most Filipinos are excited to shop for gifts, becoming the country’s longest and most-awaited holiday.

“In keeping with this festive spirit, HCPH is looking at a significant increase in sales, projecting a 25-percent surge from last year’s P16 billion,” it said. “This anticipated growth is driven by strong demand for key items available through HCPH financing during the holidays.”

In addition to its top-selling products, the company expects categories like furniture, e-bikes, sporting goods, department store items and motorcycles to contribute significantly to this growth.

This forecast builds on a sales report indicating strong performance in these areas during the October to December period last year.

HCPH’s sales reached P16.3 billion during the fourth quarter last year, representing 32 percent of Home Credit’s total sales in 2023. December alone accounted for P7.3 billion in sales, reflecting the holiday shopping rush.

The most in-demand categories during the holiday season last year were mobile phones and tablets, home appliances, televisions and electronics as well as computers.

Mobile phones and tablets comprised 53 percent of the total sales at P8.6 billion. Top brands such as Apple, Samsung, OPPO, Vivo, Honor and Xiaomi dominated the market.

This was followed by home appliances, which accounted for 15 percent of total sales. Most popular brands include Panasonic, Condura, Samsung, LG and Fujidenzo. Meanwhile, TCL, Samsung, LG, Skyworth and Sony stood out as the top brands in the televisions and electronics category.

“At Home Credit, we recognize our role as a reliable partner in helping Filipinos achieve their aspirations,” Puneet Suneja, HCPH chief sales officer, said.

“Our 2023 sales figures reflect how Filipinos embrace the holiday spirit by giving gifts to loved ones and rewarding themselves for their hard work throughout the year.”

With the anticipated shopping rush, HCPH will once again offer holiday deals and flexible installment plans for consumers through its partner stores.

With over 15,000 partner stores in 75 provinces nationwide, HCPH ensures that these offers are widely accessible, with only one valid ID as a requirement and a one-minute approval process.