Home Credit sells ₧60B worth of financed goods

EXECUTIVES of payment system operator HC Consumer Finance Philippines Inc. revealed on Monday the firm was able to sell last year financed goods worth P60 billion, which they consider “record breaking.”

“It [is] truly humbling for us that a lot of our customers trusted us in bringing home products that we believe help improve their lives,” Home Credit PHL Chief Sales Officer (CSO) Puneet Suneja said during an event the firm organized last Monday in Taguig City.

According to Suneja, half or P30 billion of the total sales was accounted for by mobile phones, bringing their overall sold units to 12.5 million over the last decade.

“So we’re bringing in the smartphones revolution that started in 2018, I believe, to every customer out there for us,” he noted.

Brand-wise, one in every five mobile phone units sold was iphone, generating a total of P6 billion last year.

“I think, we might have done close to 200,000 units or so. Two years back, we were [only] selling 10 percent of what we did in 2023,” Suneja said. He added that, for the first time, this communication gadget from Apple Inc., which is known to be “very expensive,” has outperformed Android phones that Home Credit customers usually preferred. “[So] we’re [now] making iphones [attainable] for everyone.”

Starting with financing just four products in 2013—phones, televisions (TVS), refrigerators and laptops—home Credit now sells in installment 80 plus commodities and continuously expanding.

Apart from mobile phones, its top financed products for the last 10 years include TVS at 1.2 million sold units, computers at 900,000, and airconditioners at 500,000. The latter has been selling like hot cakes for over a month with the launch of its zero percent interest promo.

“We’ve put more than 1,000 aircons every day in Filipino homes since we started this summer campaign in March this year. Hopefully, [it provides] some relief from the extreme heat that we’re experiencing this year,” the CSO said.

Suneja attributed their record performance this year to a decade of groundbreaking achievements. Since its inception, the company has served over 10 million Filipinos and having 15,000 partner shops across 75 provinces and 137 cities nationwide.

“With Home Credit, shop anytime, anywhere, or anything from the most trusted brands and retail stores in the country,” he said.