6 PRA NEWS UPDATES PHILIPPINE RETAILING
Lessons to thrive in this new era of retail operations
2023 is the year of transforming . According to Francis , the stores are now rapidly adapting in so many technological advancements and new ways to deepen their retail customer experience and operations strategies . Consumers are now experiencing revenge travel and shopping and stated that when the traveler confidence returns , and consumer confidence returns , then spending returns . “ Customer success is the combination of Customer Experience and Customer Happiness ”, as he reminded the store operations and frontliners to drive stronger performance and deliver measurable business results . The biggest challenge facing the retail industry this 2023 would be Employee Retention . “ In fact , the retail industry has one of the highest employee turnover rates ”, he added .
As shoppers become increasingly accustomed to convenience and immediacy , Francis shared these three ( 3 ) customer expectations in this pandemic generation – Health and Safety , Agility and Flexibility and Phygital Amenities . He mentioned that retailers must develop ways to create meaningful experiences with their customers through Retail Hospitality by building a bond with , and creating a hospitable environment for your customers .
The Philippine Retailers Association ( PRA ) held its first face-to-face Retail Leadership Academy thru the Retail Excellence Seminar Series last February 28 at Joy Nostalg Hotel & Suites Manila , Pasig City .
In this 52nd seminar leg on “ Customer Success First for the Customer of Today while Guaranteeing the Essentials of Retail ”, resource speaker and rockstar retail trainer Francisco dela Cruz , Jr . outlined the perspective on store operations and frontline leaders to reenergize , reequip , and reinspire the Filipino retailers to confidently thrive in the new retail landscapes , strengthen the Filipino retailer skills on business resiliency and recovery as we live in these still sporadically pandemic times ; and enhance the entrepreneurial instincts of the Filipino retailers .
THE THING THAT SCARES RETAILERS THE MOST – LET ’ S TALK RETAIL EPISODE 32
What do you think retailers are scared of the most ? Is it irrelevance ? Lack of varieties to offer to their customers ? Or is it in particularly being dominated by technology also known as online retailing ?
The thing about online retailing dominating the retail scene is what the brick-and-mortar retailers scares the most . If they don ’ t try to keep up with the changing times , certainly some of them will be left behind and will eventually close their physical stores .
But it is admirable that it wasn ’ t the case for India ’ s iconic department store , Shoppers Stop . They were able to withstand the trials they encountered by knowing the trends and pulse of their consumers , marrying both online and offline .
Despite all the challenges , owners , operators , and frontliners of food , non-food , service and tourism retail must spotlight innovative strategies and approaches geared towards attracting , engaging and delighting the customers . “ Great frontliners are made not found . Trained and empowered frontliners sell your Products rather than clerk your products . The actual worth of an employee nowadays is based on : How many customers you have made happy ? How many lives you have made easy ? How many people you have influenced to buy your company ’ s products & services ?”
The Retail Leadership Academy is the education and training program under the Philippine Retailers Association , the national organization of retailers in the country . For more details about PRA events and partnerships , contact PRA Executive Secretariat at specialprojects @ philretailers . com / info @ philretailers . com .
replace brick and mortar . He also thinks that the present and future of retail is omnichannel . “ Customers are looking for new experiences and evidently , engagement in stores will be widened as customers are exposed with multiple channels ,” he said . Let ’ s Talk Retail ’ s new episode with Shoppers Stop Venu Nair clearly embodies the significance of knowing what ’ s in the heart of the consumers , how you can utilize the power of data and really what will it take to stay on top and still be relevant moving forward .
" The real thing to manage is not data , it ’ s about using the data . It ’ s about changing the mind and learning to adapt . Look at the insights that the data is giving and most importantly , doing something with that insight . Insight on its own is just information , it leads to nothing . Only if you can work those insights into actions , that ' s what it needs ," Venu explained .
Go to PRA ’ s YouTube channel and Spotify account now to listen and watch to Let ’ s Talk Retail ’ s 32nd episode . Follow the said socials so you ’ ll never miss an episode !
As Venu Nair , Customer Care Associate , Managing Director and CEO of Shoppers Stop , he firmly believes that online will not