The Philippines’ long tradition in weaving, woodcarving and clay molding has enabled it to become one of key sourcing centers for indoor furnishings and garden ornaments in Asia. Handicrafts from the country are shipped to all major regions, decorating homes, gardens and patios worldwide.
Aside from unique designs and ingenuity in material processing, Philippine-made home and garden decorations attract discerning buyers looking for pieces with handcrafted appeal. Vases, baskets and mirrors with intricate weaving are offered, together with terra-cotta planters and pots that were sculpted by hand.
The Philippines’ accessibility to raw materials and its large base of skilled workers is also one of its competitive advantages. In addition, suppliers accept mixed orders and set low MOQ.
Despite strong consumer interest, however, home and garden decor manufacturers in the country are facing a series of problems that have made the business environment more challenging.
Export sales have been sliding in the past few months due to the global economic downturn. For the first quarter of 2009, the Philippiness hipped $242 million worth of woodcrafts and furniture. This represents a decrease of more than 10 percent compared to the same period in the previous year.
In response, makers are streamlining production and consolidating their facilities to reduce maintenance and transportation costs.
Some companies, on the other hand, have expanded their product lines, or have begun to cater to the domestic market.
The following are some of the key trends we see in the Philippines’ home and garden decor industry:
• Exports in the line are expected to see minimal growth in the next 12 months, with suppliers anticipating the effects of the economic slowdown to continue.
• Most manufacturers will maintain or decrease prices in a bid to stimulate buyer interest and generate more orders. A drop of least 5 percent is anticipated from suppliers planning to reduce their product quotes.
• Buyers can expect more unique designs from the Philippines.Companies will concentrate R&D efforts on styles and models not readily available from other supply hubs.
• The trend towards environment friendly products will continue to grow. Makers are incorporating sustainable and recyclable materials into their designs such as bamboo, newspapers, eggshells, twigs, leaves and seeds.
The above is extracted from the Executive Summary of China Sourcing Report: Philippines - Home & Garden Decor
To learn more about this report, visit: http://www.chinasourcingreports.com/csr/philippines-home-garden-decor
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