CEBU, Philippines — Despite the increasing cost of construction materials and furnishings, consumers are still buying, this according to an industry player.
Michael Co, chief executive officer (CEO) of Cebu Home and Builders Center (CHBC), noted that sales of construction products continue to post brisk performance in the last few weeks even after the rise of inflation rate in the country.
The high inflation may ultimately bring effects on the construction material sales slightly, but this early sales continue to soar, said Co on the sideline of CHBC’s formal launching of “Tile & Bath Festival” which will run until November 4, 2018.
The one-month festival which is currently held at CHBC’s flagship branch along A.S. Fortuna Street in Mandaue City, showcases updated products and technology in the tile and bath segment of construction supply.
Co, on the other hand expects that inflation will eventually affect the sales of construction materials specifically in the home renovation sector, as these kinds of project can be easily re-scheduled.
In preparation for market downshift, Co said the company, which operates 14 outlets in Cebu and Metro Manila, is rising up with the occasion by offering technologically updated and stylish products.
“When the market is low, the more that we are to present something even better to prop up the market. We don’t want inflation to hinder our potential to grow and support the market,” added Co.
Co continued that consumers and even traders cannot stay wallowing and complaining about the rising cost of living, as this is largely influenced by upward movement of fuel prices in the world market.
CHBC is a subsidiary home improvement store under its mother company Cebu Oversea Hardware Co., Inc.