Retailers turn to ICT to sustain business

CEBU, Philippines - While the retail sector is facing unpredictable growth with the fast changing preferences of the market, retailers from the Visayas and Mindanao are up to fully maximize the information and communication technology (ICT).

How to go about this is one of the important topics to be tackled at the upcoming 4th Regional Retail Conference spearheaded by the Philippine Retailer Association (PRA)-Cebu.

PRA-Cebu president Melanie C. Ng said no retailer can thrive in these challenging times without having to invest or employ on modernized retailing concepts especially in constant introduction of innovation for products, promotions, and services.

Through the conference, aptly themed “Empowering Retailers Today for an Innovative Sustainable Tomorrow,” Ng said retailers will be able to learn new facets of retail trade and its challenges in order to thrive and compete in the global retailing landscape.

PRA-Cebu chairman Jay P. Aldeguer said that although the retail industry in the Philippines, specifically in Cebu, has experienced an encouraging first semester performance fueled by the election spending and the recovering economy, retailers have to sustain the momentum by connecting closely with consumers’ pulse in preference, buying psychology, and trends.

In line with this, Aldeguer said retailers have to know how to maximize the technology in pushing growth and sustainability in retail trade.

“IT in retailing is the new facet that we have to look closely into. There are a lot of IT solutions out there for retailers, we just have to find out and see what works for our respective businesses,” Aldeguer said.

Beyond online shopping phenomenon, real time POS (Purchase Order System) there are other topnotch technologies now that will empower the retail sector, and players should be well educated on the availability of these technologies and what benefits it will bring to the retail business. 

According to Aldeguer with the new facet on retailing comes many challenges, and also opportunities for retailers to grow in limitless market scope, that is why maximizing the technology is one of the important tools for retail players to thrive despite the tough market competition.

The two-day regional retail conference scheduled June 28 and 29 at the Cebu Parklane Hotel, will also have discussions on economic challenges for the new administration with Professor Benjamin E. Diokno of the University of the Philippines School of Economics as resource person.

Market research firm GFK Asia Pte. Ltd managing director Frans Janssen will provide wide information and new perspective of this generation’s consumer trends, through discussing a topic on “Empowering Retailers with market Knowledge.”

Over 300 delegates from the Visayas and Mindanao are expected to join the conference.