I've read in some forums about how imported items sold here like electronics and luxury brands particularly American or European are over priced. Although most are correct some are not so if you know the right people or know where to look.
For vitamins, supplements, toiletries etc. you can go to Greenhills Shoppesville or Cash and Carry Makati and find that the prices offered are similar to Amazon or just slightly higher.
These items are authentic and have entered the country via grey channel of balikbayan boxes.
For SLR cameras and accessories, see this link digitalphotographer.com.ph/forum/showthread.php?t=5333
The prices offered are similar or lower compared to those in U.S., Europe and even Hong Kong or Singapore.
For LCD/LED, Plasma TVs you can go to Sights and Sounds or Listening in Style at Shangri-La Plaza. They offer their merchandise at a significantly (subjective) lower price compared to big chains like SM Appliance or Abenson. The rule of merchandising display and inventory plays a big part here. Prices are still high compared to US or Europe but if you include shipping and insurance, after sales support etc. then the gap becomes smaller. The volume here just can't match those of Europe and North America.
For higher quality furniture you can check out Decor/Light Source in Glorietta, Shangrila, Sta.Mesa, or Megamall. If you are into the high end stuff then Furnitalia at the Fort and Dexterton at G.Araneta or Greenbelt 5 offer Italian brands. Prices are usually SRP but you can negotiate for a discount.
Forget the designer labels at Greenbelt unless they have their end of season sale because even at 20% discount their prices are still comparatively high.
Luxury watches like Rolex, IWC etc are actually lower here compared to high volume market like Hong Kong and Singapore. You just need to know the right people to give you the extra discount. But even without the discount the list price (limited edition pieces for example) is already cheaper here compared to those abroad.
European brands technically should be lower in pricing because VAT in Europe hovers around 19 to 20%. When they export their products the VAT is removed and so are the dealer margins. When they arrive at their intended destination outside Europe the importer/distributor has a big margin to play with and thus can offer it at a lower price but might not be allowed to publicly display it to protect their international counterpart.
Happy hunting.