Villar-led AllHome Corporation observed growth in sales in home appliances and essential items amid the pandemic, as consumers resumed home improvement projects and select businesses started reopening. In a statement, AllHome vice-chairman Camille Villar said the company’s wide range of products contributed significantly to sales growth despite the imposition quarantine measures.
“During the second quarter of this year, appliances contributed 40 percent of our sales, generated by our tactical pop-up stores placed near All Day Supermarkets. We recognized and capitalized on our AllValue retail ecosystem, of which AllHome is an integral part,” she added.
The company said as consumers are spending more time at home due to the pandemic, their respective incomes were diverted from travel and non-essential entertainment to renovations and passion projects.
“This time presented opportunities to continue and start DIY (do it yourself) home improvement projects, while others bought new kitchen appliances to further culinary hobbies and refrigerator and freezers to assist their business ventures,” it said.
AllHome said it also saw an increase in sales of furniture and equipment for home office and virtual classes with the new normal of work from home arrangements and online classes.
“These shifts in shopper behavior cushioned somehow the disruption caused by the pandemic such as closure of stores and stoppage of construction activities during the ECQ,” it added.
As reported in the shopper survey commissioned by the Bangko Sentral ng Pilipinas, the upper-middle economic class priority levels on home furnishing remained the same –both online and in-store.
Validating AllHome’s quick pivot to e-commerce during the pandemic, Nielsen Philippines online survey Pandemic Impact on Shopping Behavior fielded in April 2020 at the height of the coronavirus disease 2019 (Covid-19) situation showed that ABC1 segments are more positive that online shopping habits will continue post ECQ.
The survey showed that the purchase of appliances and furniture in the ABC demographic remained unchanged by ECQ.
“This community lockdown has pushed AllHome to find new channels to bring its products and services closer to its customers,” AllValue chairman Manuel Villar, Jr. said. AllHome is listed in the exchange as $HOME.
-StockBytes PH, September 14, 2020.
*The owner of StockBytes PH is a licensed stockbroker, contact us if you want to open a broker-assisted or online account. Contact us/Services.
Ready to start your financial journey? email us at [email protected] or follow us on Facebook and Twitter.