Consumer finance company Home Credit Philippines (HCPH) said it expects fourth-quarter sales to grow by at least 25 percent to P20.25 billion from P16.2 billion a year ago.
It said fourth-quarter sales would account for about 32 percent of the company’s full-year gross.
HCPH chief sales officer Puneet Suneja said the 2023 sales figures reflected how Filipinos embrace the holiday spirit by giving gifts to loved ones and rewarding themselves for their hard work throughout the year.
“At Home Credit, we recognize our role as a reliable partner in helping Filipinos achieve their aspirations. This is why we launched The Great 0% Festival last year, to enable them to enjoy a wide array of products through flexible installment plans with no interest—aligning with our campaign tagline, ‘Laban lang, para sa life goals’,” he said.
The anticipated growth is driven by strong demand for key items available through HCPH financing during the holidays.
Apart from its best-selling commodities, the company is also looking at furniture, e-bikes, sporting goods, department store merchandise and motorcycle units to drive sales.
The December 2023 performance alone accounted for P7.3 billion in sales, underscoring the last-minute shopping rush as consumers purchased gifts for themselves and their loved ones.
It said the most in-demand categories during the 2023 holiday season were mobile phones and tablets, home appliances, televisions and electronics and computers.
Mobile phones and tablets were leading the charge, comprising 53 percent of the total sales at P8.6 billion, with top brands such as Apple, Samsung, OPPO, Vivo, Honor and Xiaomi dominating the market.
Home appliances followed closely, accounting for 15 percent of total sales, with brands like Panasonic, Condura, Samsung, LG and Fujidenzo being the most popular. In the televisions and electronics category, TCL, Samsung, LG, Skyworth and Sony stood out as the top-performing brands.
HCPH, with over 15,000 partner stores in 75 provinces nationwide, ensures that consumer goods are widely accessible using only one valid ID as a requirement and a one-minute approval process. This allows more Filipinos to enjoy the convenience of affordable financing for their holiday purchases.
“Many Filipinos face the challenge of getting by day-to-day, often living paycheck to paycheck. This holiday season, we want to make it easier for everyone to enjoy this festive time of the year and more meaningful by providing incredible offers and flexible deals. This way, Filipinos can fully embrace the spirit of giving—whether to themselves or their loved ones,” Suneja said.
