By ABS-CBN News
Physical stores will remain essential to the Philippine economy despite the rise of online shops but must learn to adjust to the digital economy, global retail expert Tom Oliver said.
The pandemic may have accelerated the adoption of digital technologies but that does not mean that “brick and mortar” stores would take a back seat, Oliver said during the National Retail Conference and Stores Asia Expo 2022 in Pasay, City.
Many retailers have argued that nothing beats shopping using tangible or physical items.
“Especially in the Philippines, people love the shopping experience. Yes they still stay home more than they did before the pandemic, but they love, you have the shopping culture, you have the mall culture here,” said Oliver.
But he stressed firms must evolve along with consumer trends by updating the “brick and mortar” to “click and mortar” model where an online aspect is added to the shopping experience.
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