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

The top consumer finance provider in the Philippines, Home Credit, has identified an interesting trend in the Philippine market as 2023 draws to an end: a rise in the number of financed purchases of various commodities, most notably mobile phones, which accounted for 1.7 million of all transactions. The year-long promotions from Home Credit, such as the most recent installment financing offer with 0% interest, helped to allow this spike in product sales. Purchases on Home Credit increased significantly this year in a variety of categories, indicating a change in customer preferences. Home Credit's products have changed to suit the changing preferences and aspirations of Filipinos, with an emphasis on enabling them to achieve their individual and family objectives.

Among the highlighted categories, mobile and tablet purchases garnered the greatest number of units sold, indicating a continued reliance on these devices for work, education, and entertainment. The volume sold in this category, marked by an impressive 1.7M units, showcases the enduring significance of these gadgets in everyday life. For this year, the brand to highlight is Apple, which is now the top mobile brand for Home Credit, with a 100% sales increase from last year. 

Filipino consumers have also shown a marked interest in upgrading their living spaces. The appeal of modernizing households resonated strongly, evident in the 420,000 units of home appliances financed by Home Credit. The specifications of these appliances, tailored to enhance convenience and efficiency, have appealed to consumers seeking to upgrade their home appliances in time for the new year. 

Meanwhile, the demand for TV and electronics, computers, furniture, and other home improvement materials saw notable traction, signifying a desire for enhanced connectivity and comfort in homes. The specifications of these products, focused on delivering superior performance and comfort, have been key factors driving their popularity.

When it comes to goods supporting sustainability, the demand has also been noteworthy, especially for e-bikes. This year, Home Credit has seen a 122% sales growth in e-bikes, a proof point in the growing trend of green living and alternative transportation products. 

The introduction of The Great 0% Festival by Home Credit has been pivotal in driving these purchases. This limited-time promo offers holiday deals and 0% interest rates on installment plans, spanning from six to 18 months. Available at Home Credit partner stores and Shoppingmall.ph, these offers make lifestyle and tech products more accessible, 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).