|
The National Economic Development Authority has estimated there are
more than half a million retail establishments comprising 33 percent
of the entire services sector in the Philippines and accounting for
15 percent of the country’s gross national product. As a
continually growing sector, the retail industry employs more than
six million people, or about 19 percent of the country’s total
workforce. Moreover, the Retail Gross Value Added (GVA) covers 12.8
percent of GDP, 26.4 percent of the services sector’s GVA and 76
percent of the whole trade subsector’s GVA.
However, with economic conditions being
threatened by a looming food crisis and skyrocketing fuel prices,
the industry is confronted with a big challenge, the retailers are
faced with the challenge of keeping their business afloat. The
solution, according to Philippine Retailers Association, is to learn
new ways to do business. The association will show the way when it
holds its 17th National Retail Conference and Stores Asia Expo this
year from August 13 to 15 at the Crowne Plaza Hotel, Ortigas Center.
The event expects to gather over 700 retail
owners, top-level retail executives and industry leaders are
expected to gather and exchange ideas on how best to deal with
issues confronting the retail sector.
The conference to be keynoted by Tourism
Secretary Ace Durano will have speakers from Krispy Kreme, Adidas,
Penshoppe, National Bookstore, Rustans, Goldilocks, Red Ribbon,
Philips, Oracle, IBM, PLDT and WWF, among others, sharing best
practices and leadership insights. Alongside the conference is a
three-day exposition of products and services to help improve
business opCell phone as financial tool in Smart, Mastercard tie-up
Smart Communications Inc. unveils a new
partnership between Smart Money and MasterCard. It is the first
reloadable credit card payment scheme connected to a Smart mobile
phone, making it easier for consumers to pay bills and load cellular
phones.
A unique security feature of this “wallet
card” is the user’s option to receive updates on financial
transactions via short messaging service. This innovative concept
upgrades the function of the cell phone from a mere communication
tool to a tool for settling arrears and payments.“We are pleased
to provide the public with richer and more dynamic mobile commerce
experience,” says Orlando Veas, Smart chief wireless adviser,
adding, “Through Smart Money, Filipinos may enjoy the benefits of
fast, secure and convenient electronic transactions with just one
cash card linked to a Smart mobile phone.”
Smart emphasizes that while it is venturing on
these new areas its priority remains in the field of communications.
The Philippines became known as the world’s
texting capital after the company came out with the world’s first
electronic prepaid service in 2003, the Smart Load. Smart’s
prepaid subscribers can now buy cell phone load for as low as P30
(roughly $0.75). It used to cost P300 (around$7.50).
-- Johanna M. Sampan
|
