Retailer: Price hike, supply shortage unlikely this season

CEBU, Philippines - Four days come Christmas time, a major player in the retail industry connoted that the consuming public has nothing to fear about price increase and shortage of supply of seasonal goods and other commodities during this year’s holiday season.

Robert Go, director of Philippine Retailers Association – Cebu Chapter said local merchandisers have prepared more than the sufficient supply of basic commodities and holiday products since the last two months given the predicted high demand for this peak season.

Go is also the chairman of the economic development committee of the Regional Development Council and the owner of the Prince Warehouse retail chain with around 40,000 sari-sari store members.

He cited that at present, retailers store supplies good for 200 to 250 days that is five or six times above the average stocking level of goods which is only up to 45 to 60 days.

Even with the high demand, he added that consumers need not worry about price increase since entrepreneurs at present tend to sell at the cheapest prices as possible so as not to be overtaken by too many competitors around with new retailers entering the market.

“There is nothing to fear. There will be no price increase and no panic buying either. People could buy anywhere and every retailer has enough supply stocked up for these peak days.  There are too many items for everybody. There is enough supply to answer the high demand,” Go stated.

He further noted that retailers even offer sales promotions and saving opportunities to attract a wider market with more items to choose from and the availability of budget packages such as goods in baskets, pails and other wholesale bundles.

Bestselling holiday products include cocktails, large-sized canned products, spaghetti ingredients and other gift-giving commodities.

For convenient shopping, he also advised consumers to buy everything they need for the holiday celebration as early as possible to avoid traffic in supermarkets and retail stores.

In its recent monitoring reports, the Department of Trade and Industry – 7 noted that basic necessities and prime commodities including Noche Buena products in wet markets and groceries have sustained stability in prices for the past three weeks.

The price monitoring report is conducted weekly by the Consumer Welfare and Business Regulation Division of the DTI – Cebu Provincial Office headed by Zaide Bation.  (FREEMAN)