Retailers strategize to stay afloat

CEBU, Philippines - As retailers together hurdled and survived the challenge brought about by the global financial crisis, they now prepare to tackle deeper strategies on how to sustain dynamic business and stay competitive.

The Philippine Retailers Association (PRA-Cebu) will hold its 3rd regional conference this coming July 1, primary to further strengthen the retail players, helping each other to stay in the business.

Carrying the theme “Retail Strategies for 2009 and Beyond—Ways to Attract Customers and Stay Competitive”, the one-day conference to be held at the Parklane International Hotel, will bring together the expert and seasoned retailers in the industry to impart strategies and know-how to outwit different challenges ahead, especially the threat of global competitiveness.

PRA-Cebu president Melanie C. Ng said the retail industry, especially in Cebu, has survived the trying times of the sector, as the global crisis pushed consumers to slowdown their purchasing decisions.

After learning several strategies on how to make the retail industry upbeat amid economic difficulties, Ng said retail players will again be empowered to get experts’ insights on maximizing the retail business with or without crisis.

This year, Ng said the seminar will focus on key concepts that participating players need to learn which include green retailing, Department of Trade and Industry’s “Bayong” project, new concepts in retail trade, and innovative entrepreneurship in retail.

 “There is no doubt that there’s a slowdown across industries, there are challenges in the horizons, but no retail businesses are doing it for short term. Everyone is looking intensely on how to survive in the long term perspective,” said PRA national president Bernie Liu.

Liu said that this is the best time that retail players have to listen and learn on how to grasp opportunities in the difficult times. The current economic crisis, may have given the players good lessons to learn, but it’s better to be prepared for incoming challenges.

The conference, which will be attended by seasoned retailers in the country, such as Pinky Yee of Goldilocks Bakeshop Inc., Jos Ortega chief executive officer of JWT advertising agency based in Manila, Steven T. Cua, president of Philippine Amalgamated Supermarkets Associations (PAG-ASA), and other successful retailers, is expecting to gather over 150 delegates from all over the Philippines, especially from Cebu.

In a press conference, PRA-Cebu chairman Jay Aldeguer said that now more than ever, the retail players have to keep up with the fast changing preference of the consumers, especially with the introduction of new media channels in the Internet.

Aldeguer said consumers now dictate what products that retailers should sell, because information is limitless in the Internet.

Retail business is the most exciting trade, because players have to trail blaze with the fast changing preference of consumers and also complete with mounting similar products being made available, Aldeguer said.

“I am very optimistic about the benefits all retailers and prospective retailers may be able to learn from this conference. The lineup of speakers and guests who will share their expertise and knowledge with the attendees will definitely make the Cebu retailers maintain global excellence and competitiveness,” Ng concluded.