Join the bazaar bandwagon

CEBU, Philippines - Holidays and other special occasions are considered to be strong drivers of the bazaar business that has developed into a preferred shopping stop for many because of reasonably priced items and the chance to haggle for a good price.

In the Philippines, budget shoppers and natural bargain hunters practically opt to spend their money to buy things at their fun-filled shopping haven--the bazaar.

Bazaars are present in many parts of the country specifically in commercial and public markets, and in fact, bazaar operators yearly set up flea markets during holiday occasions like Christmas season.

Bazaar merchants said joining bazaars is a pleasurable income generating activity but added that the income turnout depends on the kind of product sold and the most crucial factor--the season.

Hit during the holiday

Experience often shows that it is during the holiday season when the bazaar industry reaches its highest peak in terms of sales.

However, the growing number of vendors joining the bazaar bandwagon has made selling more challenging and competitive, pushing them to make extra effort to survive.

They said the proliferation of local stores owned mostly by Chinese businessmen in the city's downtown area has also taken toll on their enterprise.

Tabo sa Banay, one of the famous bazaar in Cebu City, is the buying center of different kinds of clothes for men and women and other textile products.

Market vendors sell almost the same products that include jeans, skirts, bags, fashionable blouses, dresses for formal and casual occasions and footwear. This is the reason why, they said, the competition is constantly alive.

"Lahi na gyod kaayo karon ang negosyo namo kay daghan nang ka kompetensiya," shared 60-year-old RufinaGimo, bazaar vendor for more than 20 years now. "Mao ng asa normal day sigo-igo ra gyod among halin." (Times have changed, nowadays competition is tough and during regular days, we can only break even.)

The many stalls existing at the market give shoppers a wide range of choices, thus making customers' potential spending more diverse. In fact, some retailers desperately offer low-priced items to attract customers.

Despite the healthy competition, traders told The FREEMAN that their enterprise can still be considered lucrative which is evident in them who have been able to survive for many years.

Bargain items

Some are into fashion looking for cheap and great finds to include in their wardrobe while others are also engaged into buy and sell business haggling for the best price they can afford.

But the similar motivation they go to the bazaar is the bargain and affordable items it offers and the remarkable shopping experience it can give.

Vendors said the surge of holiday shoppers allow them to earn bigger income as consumers normally buy more than the usual and most likely prefer bazaar products to give as gifts to their loved ones.

"Sa Pasko, modagsa gyod na mga tawo kay mao man ni pamaliton nila pangregalo," Gimo said, adding that during the holiday they could earn as high as P20,000 a day especially on Sundays.

However, vendors added it seems just a normal business day during the off-season which let them earn just enough to compensate the daily expenses and allocate an amount for savings. The smallest earnings they could have ranges from P2,000 to P5,000 while the biggest could go as high as P10,000 to P15,000.

Most of their items are priced with a 20percent profit margin which they take account for the overhead costs particularly the transportation fee from Cebu to Manila (where they source their products), vice versa.

Most of them pay the P30 ticket fee to the city government and another fee to the barangay to operate in the market. While those who owns a bigger shop are paying P5,000 as rental fee a month.

Gimo's stall is very accessible and conveniently situated which is keeping the flow of customers at pace: "Mao gyod na advantage sa bazaar kanang location sa imong stall. Kung dagsaon ang lugar kana nindot na para sa negosyo."

Tabo sa Banay  traders  get their ready-to-wear supplies from Manila's Baclaran and Divisoria markets, two of the most famous bargain shopping places among Filipinos--especially for the budget shoppers.

Gimo, a mother, said inexpensive goods draw in more customers because most of them search for items that are easy on the pocket.

Moreover, aside from RTW clothes and export overruns, toys are also in-demand to holiday shoppers. 51-year-old Belen Crampatantaand her husband Felix, 53, of barangay Pardo sells different toys at TSB since 2001.

When they started at the market in 1980, they were just selling cigarettes and junk foods to walk-in customers until they realized they had to look for higher income generating business to support the family.

The woman said they used a capital of P500 to buy toys from a wholesaler in the Carbon Market. Being the only toy trader at the Tabo is an advantage for them among the vendors.

At the city's Freedom Market, a bazaar of locally made native products is a sure hit to both local and foreign tourists.

48-year old MaritesVerano, vendor for 23 years now, said it would need a relatively high startup capital to start selling native products. Her products are sourced from many provinces in Cebu and Bohol.

A lot of them who started in the business have loaned money from Freedom Traders Multi-purpose Cooperative to finance their enterprise. Freedom Park traders also pay ticket fee to the government.

Native products are mostly in demand from schools and organizations having cultural activities while visiting tourists such as Koreans, Americans and Japanese are one of the prime buyers of their wares. (FREEMAN)