Tuesday, January 2, 2024

The Filipinos’ favorite: Home Credit financed 1.7M mobile phones in 2023

Home Credit, the foremost consumer finance company in the Philippines, has identified an intriguing trend in the local market: a notable increase in the acquisition of various goods, particularly mobile phones, with 1.7 million units financed. This surge in product sales was facilitated through Home Credit's year-long promotions, including the recent enticing offer of 0% interest on installment financing.

Throughout the year, Home Credit witnessed a substantial rise in purchases across diverse categories, signaling a shift in consumer preferences. With a commitment to empowering Filipinos to achieve their personal and family objectives, Home Credit's offerings reflect an evolution in lifestyle choices and aspirations.

Among the highlighted product categories, mobile phones and tablets recorded the highest number of units sold, underscoring their sustained importance for work, education, and entertainment. The impressive sales volume of 1.7 million units in this category highlights the enduring significance of these devices in everyday life. Notably, Apple emerges as the spotlight brand for Home Credit this year, becoming the leading mobile brand with a remarkable 100% increase in sales compared to the previous year.

Filipino consumers have also displayed a notable inclination toward upgrading their living spaces. The appeal of modernizing households resonated strongly, as evidenced by the financing of 420,000 units of home appliances by Home Credit. These appliances, designed to enhance convenience and efficiency, have attracted consumers looking to upgrade their home essentials as they enter the new year.

Simultaneously, there is a discernible demand for TVs, electronics, computers, furniture, and other home improvement materials, indicating a desire for improved connectivity and comfort within homes. The specifications of these products, emphasizing superior performance and comfort, have played pivotal roles in driving their popularity.

In the realm of sustainable products, the demand, particularly for e-bikes, has been notably significant. Home Credit has experienced a remarkable 122% increase in sales of e-bikes this year, providing evidence of the escalating trend towards green living and alternative modes of transportation.

The initiation of The Great 0% Festival by Home Credit has played a crucial role in stimulating these purchases. This time-limited promotion presents holiday deals and 0% interest rates on installment plans, ranging from six to 18 months. Accessible at Home Credit partner stores and Shoppingmall.ph, these offers enhance the affordability of lifestyle and tech products, promising an unforgettable holiday season for Filipino families.

Don’t miss The Great 0% Festival! Make your dreams and aspirations this holiday season come true with Home Credit’s special offer, available until January 2024! 

To know more about the latest updates from Home Credit Philippines, visit its official website, www.homecredit.ph. You may also follow its official Facebook, Instagram, and TikTok accounts. Customers are also encouraged to download the My Home Credit App on Google Play to learn more about the latest promos and see what’s new in Shopping Mall Philippines.  

Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).  

More information on HCPH is available at www.homecredit.ph.   

About Home Credit 
Home Credit Philippines is the lifestyle partner of every Filipino, providing access to credit through fast, convenient, and affordable financing in more than 15,000 partner stores nationwide. The brand offers a wide range of products from smartphones and laptops, home appliances and furniture, bicycles, and motorcycle accessories to electronics and hardware, sports equipment, and many more – offered at low or 0% interest rates in easy monthly installments.  

In its 10th year in the Philippines, Home Credit has served over 10 million Filipinos. Beyond installment financing and related insurance services, Home Credit also offers cash loans, a virtual spending limit named Qwarta, and a credit card for its existing qualified customers. With the My Home Credit app, Filipino customers are just a click away to get the products they want for an elevated lifestyle. 

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