The retail industry is expected to grow by single digits this year as companies stay “cautiously optimistic” despite global headwinds, the Philippine Retailers Association (PRA) said. “As an industry, (we expect) probably single-digit growth,” PRA President Alice T. Liu told reporters on the sidelines of the 32nd National Retail Conference and Expo on Thursday, as reported by BusinessWorld
Liu’s remarks reflect a cautious yet resilient sentiment within the industry, as retailers navigate economic uncertainties both locally and abroad. The conference, a key annual gathering for Philippine retailers, served as a platform for industry leaders to assess market conditions and discuss strategies for sustained growth in a challenging environment.
The single-digit growth projection underscores the sector’s focus on adaptability and measured expansion, with businesses prioritizing operational efficiency and consumer demand responsiveness. While global headwinds persist, the industry remains hopeful of steady, albeit modest, progress through the year.