Allday Supermarket sees 'revenge' shopping despite rising costs

ABS-CBN News

Posted at Jun 03 2022 10:52 AM

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Despite the elevated inflation numbers, consumers especially beginning from the upper-middle segment have been spending more as restrictions ease and as the economy recovers further, Allday vice chairman Camille Villar said Friday. 

Villar said although some prices have gone up, their target market "has more of a capacity to absorb any price changes caused by the volatility in the economy."

"Second quarter is really the beginning of revenge retail. It seems that a lot of people, a lot of our customers have come back to our supermarkets," Villar told ANC. 

"They are looking for more products and looking again of the experiential nature of a shopping trip," she added.

Consumers have also exhibited some changes in behavior with larger baskets but fewer trips to the supermarket, she said. 

AllDay, which listed in the Philippine Stock Exchange in November, is seeing a balance of people shopping between online and in brick-and-mortar stores, Villar said.

She said they are expecting a 20 to 30 percent annualized core net income growth for the year.

AllDay is also on track to meet its goal of opening 100 stores by 2026. It currently operates 35 branches.