We aim to give Filipinos more opportunities.
Key Opportunities
- Improving purchasing power of Filipinos
- Increasing number of middle class
- Growing urbanization – worsening traffic in urban areas
- Increasingly busy lifestyles
- Consumers’ desire for convenience
Trends
- Foreign Brands – local companies will bring in more food establishments from countries such as the US, Japan, Taiwan, and Korea
- Filipino Fusion – evolving Filipino food to compete with foreign brands
- Online Platforms – this is to reach the younger demographic and address the logistical barrier of traffic and parking (e.g., Grab Food, Food Panda) as well as OFWs ordering food for their loved ones
- Customized Food Delivery – this is for niche cuisines such as vegan, halal, keto, and pure organic
- Wine Market – the Philippines is among the fastest-growing markets for wine
- Artisanal Coffee and Gastropubs – these outperformed traditional counterparts by 12% in 2018, in terms of revenue per square meter
Potential Innovations
- Enhance marketing strategies by getting to know customers, developing brand awareness, and creating new products
- Adapting to technological advancements for automation, mobility, connectivity, and the ability to offer quicker, agile, and more efficient business transactions
- Instituting subsidiary companies that will offer supply chain solutions to industry pain points