LOCAL furniture manufacturers aim to penetrate high-end niche markets overseas to boost export revenues, while tapping the strong domestic market.
“We will be looking into the developments of Russia, Qatar. Very recently, we have a mission to Qatar. But of course, Dubai will always be a market for villas, and we are having some projects in Saudi [Arabia],” said Myrna Bituin, Philippine Exporters Confederation Inc. trustee for the furniture sector.
She hoped exporters will “band together” to supply, particularly indoor and outdoor furniture, to these high-end markets abroad.
On home decors, Bituin said the Foreign Buyers Association of the Philippines is actively working with the local companies which can possibly supply the United States market.
In the industry road map, furniture manufacturers expect the US market will continue to grow in the next five years.
“That’s why our strategy is to niche,” she said. “We are also hopeful on Russia. It’s very surprising, I was also shipping to Latvia.”
As they tap into high-end export markets, Bituin said some exporters are actively supplying a growing number of hotels in the country.
“Ten or 12 years ago, we as an industry joined in marketing to the local hotels and developments in the Philippines. We are quite successful in condominium [projects]. And today, a lot of hotels are refurbishing. We are going to look into this,” she added.