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Furniture Industry in the Philippines

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anjanette heramiz

on 23 September 2012

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Transcript of Furniture Industry in the Philippines

Philippine Furniture Industry Industry Profile In the Global market for furniture, the Philippines is touted to be the "Milan of Asia". The unparalleled design and craftsmanship of locally-manufactured furniture pieces have earned for Philippine furniture a prime spot in the world market. The Philippine furniture industry continues to be one of the country’s highest export sales earners. Based on the latest statistical figures, the industry posted a 4.7% growth in export sales for the 3rd quarter of 2007 the same period in 2006. From humble beginnings, the industry has grown to be the vibrant contributor to the economy that it is. It continues to make an impact in this highly competitive market by selling premium quality furniture to the world's middle to high-end furniture markets. Statistics Strengths manufacturers' strong orientation towards the customer. Such as, customization and "after-sales services" could easily be developed to form part of a "product package." ahead of our Asian neighbors when it comes to furniture design and craftsmanship. For one, Cebu was earlier dubbed as the "Milan of Asia" for its furniture exports. abundance of marketing platforms through which the industry and its products may be presented here and overseas In this manner, our manufacturers would not only be able to keep old buyers but, more importantly, attract new ones - - a crucial ingredient to the survival of our industry. Excellent in Craftsmanship and Design whose products are excellent in quality, exemplary in design and craftsmanship and distinctive in value. Filipino furniture makers and designers create beautiful furniture with the use of materials that are traditional, indigenous or a combination. Challenges The Philippines is known for being expensive. There’s a premium on [locally made furniture] because of it new design Lack of government support The Philippines is known for being expensive. There’s a premium on [locally made furniture] because of it new design global recession imitation of the Philippine design by the other markets that limits its life span to a “one-buying cycle” Peso appreciation regulation of various logging activities strong support from private business organizations stronger demand from the domestic consumers for high-end, export-quality pieces of furniture, and furnishings SWOT Analysis Strengths
Mature and dynamic sector with high quality technology and design
Established markets within and outside of Europe Prestigious image among designers Weaknesses High labor cost Needed upgrade in training infrastructure Opportunities Increasing demand (in general and in high quality segment) Increasing international demand in high-end furniture in emerging markets (BRIC) New products in line with lifestyle changes and eco-furniture trends Developing new business models and customer relation systems Threats Further tightening of environmental and safety regulations Increasing cost of raw materials Imitation of Philippine design by the other markets Need to adapt to competitive pressures, as this is an industry in the throes of intense global competition
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