Furniture makers projecting 10-15% sales growth in 2020
Local furniture manufacturers are projecting a 10- to 15-percent sales growth in 2020, as they expand their reach in both local and foreign markets.This is according to a recent statement of the Philippine Exporters Confederation Inc. (Philexport), the umbrella group of exporters in the country.”
The plan of the industry [is] to go on a massive marketing strategy,” said Myrna Bituin, Philexport trustee for the furniture sector.“Our target is to go to 10 markets in three years. That’s where we feel the buyers can really feel our presence because that is important,” she added.
Bituin said they were keen on tapping new export markets, particularly Doha, Qatar, Lithuania and Russia. Meanwhile in Southeast Asia, she said Malaysia was a “very good market” for the local furniture makers. The United States remains their biggest export market, she said, adding that the industry has also tapped the huge Japanese market.
“Product development is very, very important. It should never be considered just a part, but an integral part of your business, “ she said.