The rise of e-commerce, evolving consumer tastes, dynamic competition, and other developments in the global retail landscape challenge Philippine mall operators and retailers to pursue innovations in both their brick-and-mortar and digital stores.
At the National Retail Conference and Expo (NRCE) held in the National Capital Region, Nikki Baird, vice president of retail innovation of Aptos, Inc., a recognized market leader in retail technology, noted the global store innovation trends showing how retailers are responding to consumers’ emerging needs and demands.
“The global shift in consumer behavior puts pressure on retailers around the world to rethink their customers’ journey and experience in their online and offline stores,” said Baird. “In response to this, brands are embracing digital and behavioral innovations to deepen customer relationships, provide in-store services, use stores as fulfillment centers, harness rich customer data, host in-store events, and offer store-only exclusives.”
Unlike many of their Western counterparts, malls in the Philippines still get a lot of foot traffic as they offer a wider range of experiences to customers. They are all-in-one destinations that not only provide shopping, dining, and entertainment but also offer community events, access to government and utility services, and even places of worship.
However, as e-commerce has been growing rapidly in the country, research provider eMarketer cited the Philippines as the country with the third-highest retail e-commerce sales growth, with an over 30 percent rise from the previous year.*
“To prepare for the hyper-growth of e-commerce, Filipino retailers need to increasingly merge their brick-and-mortar and digital touchpoints to ensure the most seamless experience for the consumer and the most productive and profitable use of inventory across their network,” Zaki Hassan, regional vice president for Asia Pacific of Aptos, said. “As a singular retail solutions provider, we are fully committed to supporting local retailers in their digital transformation journeys from planning products to point-of-sale and beyond.”
“Working with over 1,000 retail brands across 65 countries, we offer retailers an immediate competitive advantage,” Hassan added. “Aptos leverages global retailing insights to tailor solutions specific to the needs of the Philippine market, helping retailers be more efficient, increase productivity, and be better prepared to meet the needs of savvy consumers.”