The rise of e-commerce, evolving consumer tastes, dynamic competition, and other developments in the global retail landscape challenge Philippine retailers to pursue innovations in both brick-and-mortar and digital stores.
At the recent National Retail Conference and Expo (NRCE), Nikki Baird, vice president of retail innovation at Aptos, Inc., a recognized market leader in retail technology solutions, noted the global store innovation trends that show 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 are stronger than ever, 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.
As retail sales are forecast to almost double in Southeast Asia to $1.38 trillion in 2025 from $720 billion in 2018, the importance of connecting digital — where consumer shopping begins — to the retail store will only increase in the Philippines. To prepare for this growth, retailers are investing in store innovations and technologies to ensure each store offers optimal customer service and the right inventory to meet the personalized tastes and needs of every shopper.
“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,” said Zaki Hassan, regional vice president for Asia Pacific at Aptos. “As an end-to-end solutions provider, we are fully committed to supporting local retailers in their 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.”
