Retail spending starting to recover, AllHome says

MANILA, Philippines — Tycoon Manuel Villar Jr. said the country is now seeing a gradual return to normalcy with his Vista Malls and other retail businesses now seeing the resumption of pre-pandemic foot traffic.

“The lowering of Metro Manila’s alert level has given rise to more people returning to malls and other retail establishments–an indicator of the country’s gradual return to normalcy,” said Villar, chairman of the Villar Group whose businesses include retail, supermarket operations, property developments and malls.

“As we anticipate the post-pandemic scenario, we are pleased that mall traffic is returning to pre-pandemic levels. We even see some days exceeding the pre-pandemic foot traffic. This bodes well for AllHome stores, especially our locations that serve as retail anchors to our Vista Malls as conditions normalize,” Villar said.

AllHome, the Villar-owned listed full line home center, is seeing a strong recovery in consumer spending on home items.

Camille Villar, president of the Villar Group’s retail arm AllValue Holdings, said AllHome’s resilience allowed it to stand up to the challenges brought about by the COVID-19 pandemic.

“AllHome has shown resilience in weathering the challenges of the pandemic, in even the most stringent lockdowns. We are even more confident now as we prepare for the country’s gradual return to normalcy,” she said.

AllHome president and CEO Benjamin Therese Serrano said the recovery of retail is being fueled by “revenge shopping,” which has gained traction in many AllHome stores.

“We believe that the trend of revenge shopping will benefit AllHome as a market hungry for experiences, after a prolonged period of various lockdowns, will again rediscover the distinct customer journeys and elevated experiences that are present in every AllHome location,” Serrano said.

AllHome officials are confident that the re-opening of the economy will pave the way for heightened construction activities in the upcoming summer months.

“We look at 2022 with more positivity as the vaccination rate in the country increases and the restrictions ease up, further more propelling the re-opening of the economy,” Serrano said during the 18th Annual CITIC CLSA Association of Southeast Asian Nations (ASEAN) forum held early this month.

“Backed by our resilient performance throughout the two-year period of the pandemic, we look to the future with more optimism and vigor as we reap the positive impact of our team’s hard work and dedication to improve efficiencies and expand profitability,” she said.

Serrano also cited the Euromonitor International report, a global marketing research firm, which reported that close to half of Filipino consumers prefer accessible store locations for convenience stores.