The Philippine Retail Association (PRA) admitted that retailing in market “is now facing a very challenging time” with the advent of technology and Internet that made it hard for shop retailers to acquire personal customers.
Picture City President Paul Santos, standing as the overall chairman for the 22nd National Retail Conference (NRC), said that “e-commerce and non-traditional marketing strategies” are slowly entering the retail landscape that customers tend to not buy from stores and search for validation of the products they need online.
Santos added that online shopping provide cheaper choices compared to the standard retail price (SRP), which added to the difficulty in sales of physical retail shops.
He also explained that this year was a challenging year for business as “Filipino buyers have so much choice” which the added to the woes of the retail sector of how can they attract the Filipino buyer to purchase their products.
Meryll Yan, brand strategy director of One Mega Group, said that the retailers should keep up with the latest trends as a product or a marketing strategy will only last for a maximum of one week at present, compared to the maximum two to three months trend expiration before.
“Filipinos are also becoming richer…tastes are becoming sophisticated. [There is the] desire to be more and more worldly and sophisticated,” Yan said.
Though not able to give details yet on how the retail sector is faring with the advancement of e-commerce and social networking market, Santos said that some traditional retailers are now exploring the online market but not yet to marketing online.
“[Retailers] only use the Internet and social networking to communicate with their consumers. Some use social networking to drive consumers to their own e-commerce sites,” Santos said.
He added that the PRA are hosting events for retailers such as the NRC and 2013 Store Expo Asia that will be attended by 700 retailers and retailer professionals to “educate partners in the latest trends” in the market. KRISTYN NIKA M. LAZO