(Source: Sun Star Cagayan De Oro | 24 July 2016)
The Department of Trade and Industry-Northern Mindanao, in cooperation with the Philippine Retailers’ Association, held its Roadshow Seminar dubbed “Modern Approaches in Managing Your Store Towards Profitability” at the Limketkai Luxe Hotel KAVE cafe on July 22, 2016.
The seminar aimed to provide guidelines for local retailers of every region to upgrade their retailing and business skills by conducting module discussions on customer interactions, employee management, store maintenance and security and other issues concerning effective retail store ownership.
“Retailing is already booming in the country. As of now, we have various retailers like H&M, Forever 21 and many more flocking here in the country. These businesses are in the spotlight but we do not want our local retail businesses to get left behind. It is better if we help them to be at par with the giants in the retailing industry in this country and to be able to thrive in the midst of competition and in the advent of the ASEAN integration,” freelance retail operations manager Francisco dela Cruz said.
According to the 2016 data of the Philippine Retailers’ Association’s website, the Philippines was recently ranked 16th globally in the Global Retail Development Index (GRDI) mainly because of the growth of Philippine retail and the country’s strong Gross Domestic Product (GDP).
Retail is expected to account for one-fifth of the country’s GDP by 2025, as the outsourcing industry helps boost the local economic growth.
Filipinos traditionally buy household items in sari-sari stores but the GRDI reports that the country’s retail experience is modernizing, with retail giants investing billions in malls.
With a population of more than 100 million, total retail sales have reached $134 billion, with modern retail sales area growing 13 per cent in 2015. Some of the Philippines’ biggest developers include Ayala Corp, JG Summit Holdings, SM Investments and Robinson’s, the last of which plans to invest
almost $100 million in 10 new community malls by 2020. Both the southern cities of Cebu and Davao though are being groomed to be the next big retail players outside Manila.
The seminar was attended by various retail store owners in and outside of Cagayan de Oro.
“The forum is very brilliant in providing us with key techniques on how to do better in our job as business owners. I have learned a lot from the speaker and I think that this has opened my eyes into a new perspective in managing the business I own,” Lucela Maghanang, an owner of a local retail store said about the event.
— By Abigail Viguella
Read more: http://www.sunstar.com.ph/cagayan-de-oro/business/2016/07/24/dti-holds-seminar-boost-retailers-profitability-487294