Islands Souvenirs sales up 27% over Jan-Oct period

CEBU, Philippines - The active movement of domestic and foreign tourist arrivals in the Philippines generated an encouraging sales performance of souvenir retail giant Islands Souvenirs Inc., (ISI) with an average of 27 percent growth from January to October this year.

ISI president and chief executive officer (CEO) Jonathan Jay P. Aldeguer said that this figure exclude the over 100 percent growth performance of its Boracay island outlet, which he described as “exceptional.”

Aldeguer attributed the robust growth of the company to the hyper-active domestic travelers, as well as the steady growth of the foreign tourists coming to different destinations in the Philippines.

He said the high growth of tourism and travel translates to good retail performance in the country, specifically in the souvenir related retail outlets.

At present, there are over 100 outlets of ISI all over the country, including those that are located in the department stores, and small kiosks.

Aside from the steady growth sales from the foreign tourists, Aldeguer emphasized that the all time high growth of domestic tourism has become the driving force of the company.

ISI has been the trend-setter for lifestyle souvenir product concepts, the design innovations of its T-shirts, and other products made the company sustain its leadership in the country’s souvenir industry.

Its designs are destination specific, personalized, and  prices are kept standardized regardless of destination, and type of customers.

Aldeguer, who is also the past chairman of Philippine Retailers Association (PRA-Cebu) said that although the souvenir industry in the Philippines has largely benefited the strong domestic and foreign arrivals, the industry needs utmost attention from the government.

This sleeping giant industry should be given an utmost attention by the government, in terms of providing capacitating mechanism to empower the small or micro players in the industry.

“My observation is that the souvenir, not only in the Philippines but even internationally, is perceived as a cottage-type industry. It hasn't evolved into anything,” Aldeguer said in an earlier interview.

Aldeguer believes that there is huge potential in the souvenir business, especially in tourism hotpots like Cebu.

About 80 percent of  the tourism spending goes to souvenirs. The Philippines generates an average of P31-million tourism-related revenues.

If proper support can be given to the players, directing them to higher business perspective, souvenir industry in Cebu could become one of the largest industries.

The Philippines, although its tourism industry is maturing, support industries especially the tourism retail sector should go with the maturity of the industry, in such that prices of goods shall have uniform prices, regardless of who is buying, he stressed.

He stressed that part of ISI’s thrust, is to lead in the promotion of professional and standardized pricing on tourism related products and services.

The 21-year-old- lifestyle souvenir retail chain, is part of the Islands Group of Companies, that also operates several tourism related entities, such as Islands & More, Islands Banca Cruises, Islands Stay Hotels, Islands Pasalubong Centers, among others. /JOB (FREEMAN)