Taguig City, Philippines | February 3, 2025—Home Credit Philippines (HCPH), the country’s leading consumer finance company, closed 2024 with a record-breaking PHP61B in total POS sales, reflecting a remarkable 19% growth from 2023. This increase underscored HCPH’s continued success in providing accessible and innovative financing solutions that empower its Filipino consumers, while also being a key player in strengthening the country’s consumer finance industry.
According to its recent sales report, Home Credit financed a total of 2.91M commodities in 2024, including in-demand items such as mobile phones, computers, televisions, and electronics. The financing of these goods through product loans was driven by the company’s year-long campaigns and promotions, including its popular 0% interest installment financing.
“At Home Credit, the growth we have experienced goes beyond just numbers. It reflects the lives we have empowered by providing accessible financial solutions that help our customers live the lives they deserve. The remarkable sales performance from 2024 inspires us to continue innovating, expanding our offerings, and introducing more promotions that empower Filipinos, all while remaining true to our mission of being a reliable financial ally that helps realize personal and family goals, para sa life,” Puneet Suneja, HCPH Chief Sales Officer, said.
Top commodities driving growth
Home Credit’s exceptional performance in 2024 was powered by its top-financed categories, which collectively contributed PHP57.4B to its record-breaking sales. These categories included mobile phones and tablets, home appliances, televisions and electronics, computers, and furniture.
Mobile phones and tablets led the way, generating PHP31.7B from 1.6M units financed or 52% of Home Credit’s total POS sales volume. Renowned brands such as Apple, Samsung, Vivo, OPPO, and Honor remained top choices for Filipino consumers.
Following this, home appliances secured PHP10.2B in sales from 477,000 units financed or 17% of Home Credit’s total sales, with trusted names like Panasonic, Condura, Samsung, LG, and Fujidenzo driving this category.
Computers ranked third, contributing PHP7.1B from 232,000 units financed. Popular brands such as Acer, Asus, Lenovo, HP, and Huawei dominated this segment. Meanwhile, televisions and electronics added PhP6.6B, with 301,000 units financed from leading brands like Samsung, TCL, LG, Sony, and Skyworth.
Rounding out the top five, furniture accounted for PHP1.8B in sales from 102,000 units financed, featuring sought-after brands such as San-Yang, Uratex, Infinite, and Dewfoam.
In terms of growth, mobile phones posted the highest absolute sales increase, rising by 19% from PHP26.6B in 2023, underscoring the demand for reliable smartphones that meet Filipinos’ productivity and entertainment needs.
Apparel stores recorded the highest percentage growth, achieving an impressive 128.4% increase in sales from 2023. This shows increased interest in financing options for fashion and personal wear.
Notably, Home Credit expanded its portfolio by introducing two-wheelers as a new financed category in 2024. This addition marked a significant step in addressing Filipinos’ mobility needs, with 2,870 units sold and PHP261M in sales.
Top brands and retailers in 2024
Home Credit’s success in 2024 can be attributed to its strong partnerships with leading brands and retailers, which played a pivotal role in driving its impressive POS sales performance.
Among the top brands, Apple claimed the top spot with an outstanding PHP10B in total sales volume, a significant 84% jump from 2023. The brand’s sales were largely driven by the enduring popularity of its premium iPhones, which accounted for 86% of its total sales volume. Notably, the iPhone 13 emerged as the best-selling model, with 93,000 units financed through Home Credit in 2024.
Samsung followed as a top-performing brand, contributing PHP6.6B in sales, while Vivo secured PHP4.3B, OPPO achieved PHP4.1B, and Honor generated PHP2.5B. Other notable brands included Acer, Realme, Xiaomi, LG, and Panasonic, highlighting Filipinos’ preference for high-quality gadgets and appliances that enhance their daily lives.
On the retail front, Abenson emerged as Home Credit’s leading retail partner, achieving nearly PHP4B in sales. Rulls followed closely with PHP3.8B, while Imperial Appliance Plaza recorded PHP3B in sales. SM Appliances contributed PHP2.2B, and Power Mac Center rounded out the top five with PHP1.8B in sales. Additional top retail partners included Emcor, Robinsons Appliances, Cellboy, Octagon, and MemoXpress.
“Our strong collaboration with brands and retailers has been instrumental in delivering accessible financing solutions that empower Filipinos to achieve their goals and enhance their lifestyles. As we celebrate our remarkable performance in 2024, we are grateful for the partnerships that have made these milestones possible.
“Looking ahead, Home Credit remains committed to expanding our portfolio and forging more alliances with exceptional brands and retailers. Together, we aim to meet the diverse needs of Filipinos and continue enabling them to achieve their goals and live rewarding and fulfilling lives,” Suneja concluded.
To learn more about Home Credit Philippines, visit its official website, www.homecredit.ph, or check out Shoppingmall.ph to browse the latest 0% interest deals. You may also follow its official Facebook, Instagram, and TikTok accounts.
Customers can download the Home Credit App, available on Google Play or App Store, for fast pre-approval of product installments, or talk to a Home Credit representative at any partner store.
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).
