SPECIAL FEATURE

• Published in: Business world (San Juan, Philippines) Philippines), 2005-08, p.1
• Main Author: Poblete, Johanna Paola D
• Format: Article
• Language: English
• Subjects: 21st century; Abrogena, Ador; Access control; Actuarial science; Air bags; Air filters; Airports; Alfonso L Salcedo, Jr; Alfredo C Tumacder, Jr; All terrain vehicles; Alliances; Aluminum; Alvarez, Ed; Anniversaries; Appointments & personnel changes; Appraisers; Architecture; Artemio A Tanchoco, Jr; Asset allocation; Asset management; Associations; Asuncion, Teddy; Automobile fleets; Automobile industry; Automobile safety; Automobile sales; Automobile shows; Automobiles; Awards & honors; Ayala, Jaime I; Bankers associations; Banking; Banking industry; Banks; Beaches; Beckingham, Peter; Beneficiaries; Best practice; Birthdays; Boards of directors; Bond funds; Bong, Christopher; Bookstores; Branch banking; Buddhism; Bulletin boards; Business plans; Calero, Javier "JJ"; Call centers; Capital assets; Capital expenditures; Capital markets; Careers; Cash flow; Casinos; Cellular telephones; Central business districts; Chang, Dennis; Charters; Chick, John Charles; Chief executive officers; Cities; Commercial banks; Competitive advantage; Concepcion, Jesusa Puyat; Condominiums; Confidence; Construction; Consumer credit; Consumer protection; Consumers; Consumption; Convenience stores; Conventions; Cooperation; Corporate identity; Corporate presidents; Credit card industry; Credit cards; Cuenca, Elbert; Cuervo, Federico; Cuervo, Josemari; Cuervo, Ramon III; Customer satisfaction; Customer services; Deities; Deposit insurance; Design; Diplomatic & consular services; Directors; Dividends; Dizon, Millie; Economic development; Economic growth; Economic reform; Education; Efficiency; Eggs; Electronic filing; Elizabeth II, Queen of Great Britain; Employees; Employment; Energy consumption; Energy efficiency; Engines; Epidemics; Equity; Equity funds; Escobillo, Evangeline; Esteban, Melvin; Expatriates; Families & family life; Farms; Farmworkers; Fashion designers; Ferries; Financial executives; Financial services; Financial statements; Fines & penalties; Fixed incomes; Food; Foreign aid; Freight forwarding; Fresnedi, Jaime R; Funds availability; Gaming machines; Gasoline; GDP; Global funds; Global positioning systems; GNP; Government bonds; GPS; Gross Domestic Product; Gross National Product; Growth stocks; Harmony (Music); Helicopters; Hermoso, Tito; Hermoso, Tito F; Hofilena, Jesus G; Hotels & motels; Income funds; Inflation; Information technology; Infrastructure; Innovations; Installment payments; Institutional investments; Insurance companies; Insurance coverage; Insurance industry; Insurance policies; Insurance premiums; Intangible assets; Interest rates; International banking; Internet access; Internet service providers; Investment; Investment advisors; Investment policy; Investments; Islands; ISO standards; Jarabata, Tan; Joint ventures; Jose L Cuisia, Jr; Laboratories; Leadership; Leasing; Legislation; Legs; Leisure; Licenses; Life insurance; Lines of credit; Loans; Local government; Luxury automobiles; Macapagal-Arroyo, Gloria; Macroeconomics; Management decisions; Managers; Manufacturers; Manufacturing; Market positioning; Market prices; Market segments; Market shares; Marketing; Martinez, Victor (1954-2011); Matsuura, Shozo; Microfinance; Mier, Omar Byron T; Military history; Minivans; Miranda, Jose; Mobile commerce; Monetary policy; Money markets; Mosques & temples; Mutual funds; Names; Needlework; Nominations; Operating leases; Payment systems; Pension plans; Pensions; Perkins, Dorothy; Personal grooming; Policyholders; Portfolio management; Power plants; Presidents; Prices; Privatization; Product development; Profit margins; Prosperity; Public sector; Purchasing power; Queens; R&D; Rating services; Ratios; Real estate appraisal; Regulation of financial institutions; Religion; Remittances; Research & development; Reserve requirements; Restaurants; Retail banking; Retail stores; Retailing industry; Retirement; Reyes, Carolyn Ann C; Rites & ceremonies; Robots; Salcedo, Alfonso L; Santiago, Danny; Santos, Paul A; Savings banks; Scandals; Securities markets; Securities regulations; Service centers; Service introduction; Shopping; Sison, Fernando Jose III; Small & medium sized enterprises-SME; Smartphones; Social responsibility; Software; Sport utility vehicles; Stock exchanges; Stock prices; Stockholders; Success; Supervision; Sy, Henry Sr; Sy-Coson, Teresita; Tambago, Cynthia; Target markets; Tax returns; Taxation; Taxes; Taxpayers; Technological change; Tennis; Tetangco, Amando M; Tourism; Tournaments & championships; Transportation services; Trends; Trust departments; Trust funds; Vacations; Valuation; Values; Variable life insurance; Vazquez, Juan Miguel M; Vehicles; Workshops
• ISSN: 0116-3930

Ms. [Teresita Sy-Coson], however, pointed out that the performance of the industry in the recent times "could have been better." Personal consumption expenditure, the yardstick of Filipinos' spending pattern, is driven mainly by remittances from abroad. "It didn't grow as much as we wanted it to grow," she said, adding that the industry managed to post a mere 6% to 7% growth. Despite escalating costs, Ms. Coson observed that Filipinos' innate passion for shopping perks up the industry. Following a period of increase in prices, Filipinos eventually get used to it and go back to their shopping habits. While the industry cannot depend only on Filipinos' proclivity for shopping, Ms. Coson sees the development of the tourism industry as the growth driver for the retail sector. She said that the country can take advantage of the spending power of tourists only if tourists realize that the Philippines is a place worth visiting.