Philippine Retail Industry in the Digital Era
In this day and age of technology and automation, the Philippine retail industry has a big task to move towards a new chapter. The 26th National Retail Conference and Stores Asia Expo 2019 held last August 15-16 in the SMX Convention Center centered on the theme Retail: Reimagined, focusing on the topic of digitalization and modern marketing as the future of the industry.
The conference hosted talks from several local and international experts in the retail industry, who spoke openly not just about the newest trends in the market, but how to survive amid the newest consumers, the Generation Z buyers in the next five to ten years.
While many retailers are still focused on trying to capture the attention of its millennial buyers, the 26th NRCE brought to light the importance to prepare for an even bigger generation – the Gen Z consumers, who will eventually consist of more than 30% of consumers in a matter of five years. These consumers are expected to have an even shorter attention span than the millennials and will demand more active engagement thru visually appealing content that will catch their eyes.
With this in mind, is your business ready for the future consumers?
Designing experience and building trust among your target market are just two of the things that should be remembered in this digital era. With the Internet and social media well within reach, businesses can easily take advantage of reaching out to their target market right at this very moment – allowing your products the visibility it needs to stay at the top of mind of your consumers.
According to a featured article of Ms. Tiffany Lung, a Retail Analyst and one of the guest speakers during the 26th NRCE, “Staying current and relevant in a fast-paced industry like retail is by no means an easy task. Retailers have to be agile, proactive, and quick on their feet in order to retain their market position amongst the competitive field, and at the same time adapt to an omnichannel consumer”.
And what’s the best way to adapt to the omnichannel consumer?
Simple.
Go digital.
The millennial generation and future Gen Z consumers are two of the most active generations online. Going digital will not just allow your brand visibility to these markets, but starting your online campaigns now will allow more time to build online engagement and relationships with your future consumers. At the same time, starting now will buy you time to create brand recall to your future buyers.
Going digital is easy. Start by creating a website then expand your online presence by being active on social media and starting digital paid advertising. Don’t be afraid to try new things for your business. Digital has worked wonders for old and new businesses alike. Why not give it a try?
Looking to take the digital leap? Let iManila help! Contact us at (02) 490 0000 or drop us an email at [email protected]!
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The iManila team during the 26th National Retail Conference and Stores Asia Expo 2019.
The National Retail Conference and Expo is an annual two-day event managed by the Philippine Retailers Association (PRA) and dubbed as the BIGGEST and MOST IMPORTANT Retail Industry Event in the Philippines. Among the big brands who participated in this event are PLDT, Globe, Bench, Wilcon Depot, The SM Store, and Megaworld Lifestyle Malls. iManila is grateful to be an exhibitor and the Official Social Media Partner for this momentous event where the country’s top retailers converge.