11 PRA NEWS UPDATES PHILIPPINE RETAILING
PRA members recognized at the 17th Retail Asia Awards
Members of the Philippine Retailers Association ( PRA ) won multiple awards and recognitions at the recently concluded 17th Retail Asia Awards held via digital and studio award presentation in Singapore last July 4 , 2022 .
Among the winners from the Philippines include PRA Members , namely :
ACE HARDWARE PHILS . INC . – Hardware Retailer of the Year – Philippines ETAILY AND LANDMARK – Digital Initiative of the Year – Philippines MEGAWORLD LIFESTYLE MALLS – Brand Transformation of the Year – Philippines SM SUPERMALLS Mall of the Year – Philippines ESG Initiative of the Year – Philippines THE PENSHOPPE GROUP ( GOLDEN ABC , INC .) – Domestic E-Tailer of the Year – Philippines WATSONS PERSONAL CARE STORES ( PHILIPPINES ), INC . Health & Beauty Retailer of the Year – Philippines Omnichannel Strategy of the Year – Philippines Sustainability Initiative of the Year – Philippines WILCON DEPOT , INC . – Domestic Retailer of the Year - Philippines
Organized by Retail Asia magazine , the Retail Asia Awards gathers the region ’ s best retail companies and honors their outstanding retail projects with a prestigious accolade .
The Awards recognizes retailers that are able to navigate their way through industry challenges such as the ever-changing customer demand and e-commerce boom , whilst delivering exceptional value to consumers and maintaining healthy revenues .
This year , the entries were reviewed and selected by an esteemed panel of judges including EY Asean Consumer Products and Retail Leader Olivier Gergele , KPMG Head of Consumer & Retail , ASPAC & Head of Technology , Media & Telecoms , Hong Kong Anson Bailey , RSM Singapore Partner , F & B , Retail and Consumer Products David Eu , Euromonitor International Senior Consultant Hianyang Chan , and PwC Asia Pacific , Mainland China and Hong Kong Consumer Markets Leader Michael Cheng .
Congratulations and more power to all the winners ! # ProudlyPRA
Retail association outlook positive for remainder of 2022
The Philippine Retailers Association ( PRA ) said its outlook for the rest of 2022 as the public resumes its pre-pandemic consumption patterns .
PRA President Rosemarie B . Ong said : “ We ’ re expecting the second quarter to be even better than the first quarter . So far , the outlook ( for ) this year is very positive despite the challenges . Those challenges are external . We have no control of that . I think the main driver was home consumption ,” Ms . Ong said on the sidelines of the PRA ’ s recent second quarter general membership meeting in Makati City . Asked about rising local coronavirus disease 2019 ( COVID-19 ) cases , Ms . Ong said that the PRA is hoping that the infection count “ does not escalate ” and hinder the retail industry ’ s recovery .
“ I think things are under control and besides , majority of the population has been vaccinated already . From the reports that we got , most of the infected easily recover if they are vaccinated ,” Ms . Ong said .
Ms . Ong said however that PRA members are reporting challenges in logistics due to a shortage of shipping containers .
“ It is a world container shortage because the world is ramping up ( from the pandemic ),” Ms . Ong said .
“ Lead times have been prolonged . Retailers have to strategize . Before , it was two weeks , now ( they have to plan around ) one month . The lead time has doubled , depending on the origin ,” she added . Ms . Ong said some retailers have increased their prices due to rising fuel costs , though the trend cannot be “ generalized — it depends on the sector .”
“ By and large , retailers are resilient . We ’ ve gone through the pandemic , we ’ ve gone through so many challenges , and we work together . We collaborate and share ideas ,” she added . Ms . Ong added that “ we need to tech up the industry . For one , it will help the retailers to be more efficient in their processes — and ( to handle ) digital payments .”
The Department of Trade and Industry estimates the retail trade ’ s gross value added at over P600 billion in the first quarter of 2022 , up from over P500 billion in early 2018 .
( Business World , 07 / 10 / 2022 )