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Estimated at USD 66.70 billion in 2024 and expected to reach USD 96.02 billion by 2029 , the Philippines retail market is witnessing a notable upswing . Retailers are capitalizing on the buoyant growth rates across diverse retail segments . Luxury goods are particularly poised to be the frontrunners in Southeast Asia ( SEA ), with an estimated growth rate of 30 %. Additionally , the retail e-commerce sector in the Philippines is set to outpace its SEA counterparts .
In this fast-growing yet ever-evolving retail landscape , retailers are grappling with mounting pressure to meet customer demand for discounted deals and swift delivery , particularly during sales seasons . Retailers today must navigate the challenge of accomplishing more with limited resources . This includes efficiently managing returns , providing top-notch customer service , and optimizing available inventory .
Meanwhile , a new era of omnichannel commerce challenges retailers to seamlessly manage multiple fulfillment channels to keep up with consumer expectations . Shoppers increasingly combine online and offline shopping , blurring the lines between online and offline retail .
While omnichannel shopping causes challenges for retailers , most shoppers prefer options . According to Zebra ’ s 16th Annual Global Shopper Study , nearly eight in 10 shoppers surveyed globally and in Asia Pacific ( APAC ) favor a blend of online and in-store shopping , while 75 % of global and 72 % of APAC shoppers choose to shop with online retailers that have a brick-and-mortar location . In tandem with this evolving retail landscape , consumer expectations have also ascended to new heights . Today ’ s shoppers expect a seamless omnichannel experience where they get to enjoy the convenience of easy returns and self-checkouts no matter where or how they shop .
To overcome these headwinds , it is key for retailers to invest in cutting-edge technologies to help sustain profitability while providing positive shopper and associate experiences .
Surpassing Shopper Expectations : Navigating the Omnichannel Experience
REVOLUTIONIZING RETAIL :
A BLUEPRINT FOR FUTURE SUCCESS
By Gigi Lariosa , Philippines Country Lead , Zebra Technologies
Shoppers today seek a seamless experience in-store – this includes favoring digital payment and checkout options for convenience . According to the same Zebra study , 28 % of APAC shoppers prefer pay / checkout anywhere and 74 % of APAC shoppers say that self-checkouts help
improve their experience . In fact , according to the Visa Consumer Payment Attitudes Study 2024 , 43 % of Filipinos said they carried less cash in their wallet in 2023 than they did a year ago .
Managing online and in-store returns adds another level of complexity . As omnichannel shopping continues to grow , the volume of returns increases along with it . Around seven in 10 global and APAC retailers surveyed in Zebra ’ s study say the pressure is mounting to improve the efficiency and expense of managing online orders , returns , and the fulfillment process .
With technology , retailers across all categories can monitor sales trends to better prepare for surges in consumer demand and cope with returns . Prescriptive analytics , real-time inventory visibility , and workforce management tools are vital to retail operations , helping stores and warehouses ensure they have the right people and inventory in the right places at the right time to offset the impacts of uncontrollable industry disruptions , such as the current omnichannel squeeze that retailers are facing .
Keeping Up with Retail
The speed of change in the retail landscape is not slowing down anytime soon , but the technology available to retailers is also quickly advancing . As retailers add more digital channels that require fulfillment from store shelves , such as buy online pick up in store ( BOPIS ), having an accurate inventory count becomes imperative . By strategically investing in the right mobile devices and software , stores can complete smart cycle counting on a more regular cadence without increasing headcount or diverting associates from delivering exceptional customer service .
A growing trend among retailers involves deploying technology once reserved for the warehouse or back of the store to the front of the store . For instance , radio frequency identification ( RFID ) technology has been gaining popularity among apparel , sporting goods , and electronics retailers . By employing RFID tagging , it helps streamline inventory management for weekly or even daily counts and can also help facilitate faster returns processing and inventory reshelving .
In order to enhance store productivity , it is crucial for intelligent inventory and workforce management solutions to work together . This visibility into sales data and the movement of goods across the supply chain allows retailers to leverage data to assign tasks to the right associates at the right time . Ultimately , these solutions help merchants make better procurement and labor scheduling decisions to ensure they can always keep up with consumer demand , whether shopping online or in store .
To learn more about technology solutions that can help retailers better navigate the increasing challenges presented by changing consumers expectations and labor shortage , click here .
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