Canon Cebu keeps cautious optimism

In line with the forecasted global decline for spending on technology this year, vendors of computers, IT peripherals, communication equipments and other technology gadgets are now expecting contraction of sales; however, some players still remains cautiously optimistic such as Canon Cebu.

“We are cautiously optimistic because we have to be positive all the time but be cautious of the movements of the market to set realistic goals and projections in line with the gloomy forecast of the economy,” said Canon Marketing Philippines, Inc. Visayas regional manager Joevi L. Luspo.

He said that since gadgets like cameras, music players and cellphones are not basic needs and merely “wants” there might be a contraction of consumer spending on these items as priority will be given to more essentials items.

However, Luspo reported that as of December and early this year, they still continue to see growth in their operations and so far they have not noted contraction just yet.

In fact, as of November of last year, their operations here in Cebu grew around 30 percent while in December they also managed to grow another 30 percent.

He said that for Cebu alone, they managed to grow 31 percent in terms of sales last year compared to last 2007.

“It was an amazing growth achievement for us last year considering the gloomy conditions experienced by some markets like the US,” said Luspo.

He said that the reason they continue to reap positive sales margins is through a timely marketing strategy with the combination of always aiming for customer satisfaction which is important at this point since people look for more value for their money.

 As for the start of this year, he said that they were still able to exceed their expectation from that of last year. He said that based on the movements they have hit their target for January.

He shared that they have gotten information that their clients or resellers’ sales have gone down but there were also some who reported continued increase of sales.

He said that although the extent of effect of the recession in the US is still not certain at the moment, they are still expecting that it will affect us in many ways.

“The tendency of the consumers now is to hold on to their money and manage their spending as they are also worried that they might loose their jobs and be badly affected by the crisis,” said Luspo.

He said that other the fear of retrenchments; another dreaded effect of the crisis is the so-called credit crunch.

But he said that consumers should note that at this point, wise spending should be done because if most will be hesitant to spend, this will also have an adverse effect to our local economy. — Rhia de Pablo