In a speech during the opening of the 11th National Retailers Conference at the EDSA Shangri-La Hotel in Mandaluyong, Lim noted the emergence of global retail giants who are expanding their sales and markets outside of their homeground.
The top retail giants, according to Lim include Wal-Mart, Carrefour, Metro, Ahold, Tesco, Auchan and Casino.
Wal-Mart, Carrefour and Casino have already indicated interest in entering the Philippine market, but have not yet finalized their entry.
Wal-Mart is one of the top US retailers along with Cosco, Sears, Albertson’s and Kroger. Wal-Mart is basically a discount store with sales of around $200 billion and with more than 4,000 stores.
Carrefour and Casino are France-based stores.
Carrefour is a hypermarket-supermarket with sales of around $70 billion. It had been in talks with the Rustans Commercial Group, but nothing concrete has come out so far.
Casino is also French-owned with sales of $20 billion. It had been in talks with Uniwide Sales, but backed out of the negotiations due to Uniwide’s financial problems.
According to Lim, Wal-Mart and Carrefour are intent on establishing themselves in Asia with Wal-Mart reportedly planning to put up 3,000 stores throughout the region and Carrefour 1,000 stores.
Unfortunately, Lim warned, the entry of the global retail giants will result in casualties for small Asian retailers who are not able to face the competition and to adopt to the new technology.