Furniture manufacturers in the Philippines anticipate a 15 to 20 percent sales growth in the current year, driven by ongoing innovation to meet overseas demand and maintain competitiveness, as stated by the Philippine Exporters Confederation Inc. (Philexport).
Myrna Bituin, Philexport trustee for the furniture sector, mentioned a resurgence in buyer interest following subdued demand during the pandemic. Notably, the United States, the largest market for Philippine furniture, is collaborating with local manufacturers on product development initiatives.
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Bituin highlighted the importance of staying updated on design trends, with designers adapting to new styles and entrepreneurs focusing on contemporary colours for furniture finishing. The resurgence isn't limited to the United States, as other key markets like the United Kingdom and Arab countries are also experiencing a significant comeback.
To further stimulate sales growth, Bituin emphasised the increased participation of industry players in international exhibitions, including the imm Cologne furniture fair in Cologne, Germany. She expressed optimism about this trend, indicating a positive signal of buyers returning to the market and underscored the significance of exhibitions as a means to reach a broader buyer base.
Source: malaya.com.ph