World-renowned furniture and home accessories retailer IKEA shared their strategy for success to the members of the Philippine Retailers Association (PRA) during the special PRA RetailEXcellence series on “How to Increase Productivity through Innovation,” a joint initiative of the PRA, Embassy of Sweden, and the Swedish Invest and Trade Council on June 1, 2017 at the Oakwood Premier in Pasig City.
Mr. Georg Platzer of IKANO Retail Asia—the franchisee of IKEA in the Southeast Asia, shared to some 150 attendees that efficiency is key to IKEA’s productivity and success. The event also featured other Swedish innovation businesses.
“Efficiency and innovativeness have a lot to contribute to keep IKEA’s products in good quality yet low-priced, which also resonates our vision of creating a better everyday life for many people,” Platzer said.
IKEA is known globally for their ready-to-assemble home furniture and accessories with modern and minimalistic designs. One key innovation introduced by IKEA are flat packs and other smart saving packaging solutions for its furniture to minimize storage and transport costs.
With the approval of Board of Investments (BOI) of IKEA’s application under IKANO Pte. Ltd. as a foreign retailer in the country, the global home furnishing giant is expected to start its operations in the country within three years.
Swedish Ambassador to the Philippines Harald Fries said that the joint activity with the PRA is one of Sweden’s efforts to enhance the relations between their country and the Philippines, particularly in business partnerships.
“This seminar is about how innovation can support retailers to benefit from the new business environment and Sweden is proud to have many strong international retailers like IKEA and H&M which have benefited from the Swedish culture of innovation,” he added.
In his welcome remarks, PRA President Paul A. Santos echoed PRA’s mission of providing valuable and practical tips to the players and stakeholders in the retail industry to enable and empower them to further develop their business.
“We believe that innovation is the key, and for you to innovate, there is a need for constant learning. Thus, we conduct a series of seminars that are practical and insightful, so the things you learn or pick up from here can be used in the actual operation of your business,” he continued.
Other presenters include Mr. Holger Roessner of AdvanIDe Pte, Ltd, Mr. Philip Siow of Axis Communications, Mr. Alexander Hamilton of Vobling, and Mrs. Ann-Sofi Lindmark and Zone Systems—which featured innovative products like security cameras, RFID systems, digital signboards, and virtual and augmented reality products that local retailers can utilize in promoting the efficiency of their business operations.