By Lea Salvosa / Special to the BusinessMirror
E-COMMERCE, according to the leaders in the retail industry, is a platform where industry players can create innovations for their companies, seeking to meet the constantly moving consumer preference.
In a Management Association of the Philippines (MAP) panel discussion entitled “Transforming the Way We Sell: Innovations in Retailing,” Vice President and Head of Operation and Support Services of Ayala Land Inc. Rowena Tomeldan said there is a challenge to constantly innovate and see the trends in the industry, and one trend is e-commerce.
“The shopping malls have gone beyond shopping. Shopping centers now provide experience,” Tomeldan said.
She said that shopping malls have evolved with the rise of e-commerce, using digital media in promotion.
Ensogo Philippines Country Chief Quentin Bouche said, “We’re trying to work with biggest groups and the big brands in this country to execute marketing online and we can actually do that at a much lower cost than offline.”
Through e-commerce, Bouche said that customer engagement is more active.
Similarly, Vice President for Marketing and Business Development of The Cofee Bean and Tea Leaf Paolo del Rosario said that outside their numerous product innovations, including cold-coffee beverages and tea lattes, there are also innovations in digital and engagement marketing.
“As a brand we are continuously looking for ways to connect to our customers beyond our stores and our products,” he said.
Roberto Claudio, chairman of the Quorum Holdings Corp., said that these innovations are triggered by the need to keep updated and meet consumer preference.
Claudio mentioned that according to a Cushman & Wakefield Research Publication entitled How Global Brands are Shaping the Metro Manila Retail Landscape, the last three years saw an increase in the number of foreign retailers with at least an introduction of 25 new brands.
With the demographic and the rising income levels, there has been an increase in retail interest in the country.
“Will it be brick and mortars? Or click and portal?”Claudio said, referring to in-store retailers or online retailers. “The future will be a challenge to traditional retail stores. Going online to buy is very compelling but store retailing remains a dominant force.”
Claudio made what he called a “bold prediction” which is “click and brick,” wherein online retailers venture into in-store retailing and vice versa.
Tomeldan echoed his sentiment. Department of Trade and Industry (DTI) Undersecretary Victorio Dimagiba said, “There has to be a level of protection for consumers using electronic commerce that is not less than that of other forms of commerce.”
Online retailers can be considered as part of the DTI Bagwis Program, he said.
The DTI Bagwis Program was launched in 2006 that awards certification to retail establishments that engage in providing quality consumer goods and services.