Araneta City is preparing for conceivable changes in Philippine economy as the country enters the year 2021 with more uncertainty due to the effects of the COVID-19 pandemic.
For its first quarterly business-to-business webinar for tenants this year, Araneta City hosted a discussion on the new normal in Philippine retail. The exclusive webinar on January 26, 2021 was attended by Araneta City store owners and managers, marketing associates, store personnel and employees, as well as Araneta Group’s Assistant Vice President for Marketing Marjorie Go and Vice President for Leasing Lorna Fabian.
“As we enter a new year, Araneta City wants everyone to be aware and prepared. We want you to fully grasp the new playing field, and to be fully armed for the challenges it brings. That is why we organize this special webinar as our way to help you adapt to the changing landscape of our industry,” according to Ms. Fabian.
Invited in the discussion was John Paul Yamsuan, Associate Director of Nielsen Philippines, who presented Nielsen Company’s researches and studies on changes in consumer behaviors and how key markets adapted to the health crisis.
Studies conducted by Nielsen in the Philippines show that the COVID-19 pandemic has been the unexpected catalyst for the digital adoption in the country. The quarantine restrictions and limitations have transitioned Filipino consumers to access more digital channels to continue living amidst the pandemic.
“We know that prior to the pandemic, the Philippines is becoming more digital, slowly and steadily. But when the COVID-19 happened, the digital adoption was propelled. What’s happening now in the Philippines is the golden-age of e-commerce,” Mr. Yamsuan said.
The Philippine market saw an increase in the number of Filipinos shopping online, with as much as 1.5 million Pinoys who were previously non-users of online channels shifting to the new retail channel. The shopping incidence of Filipinos has increased by 98% in 2020, and the average number of product categories bought online has increased from three to six categories.
Mr. Yamsuan also explained that digital adoption of e-commerce in the country goes beyond buying products. For Filipinos, online shopping also gave access to numerous emotional and functional benefits as a means to cope with the challenges brought upon by the pandemic situation.
He added that results from the Nielsen studies conclude that the new normal in business result to the fusion of physical stores and digital channels, with creating more connections to consumers and reaching out further to customers more important than just making business.
Through the quarterly webinars for tenants, Araneta City aims to provide valuable information that would help its business community grow and strive amidst the changing times.
“Through the years, we have been together in creating exciting and memorable Firsts to our patrons. History has been witness to both the glorious and difficult times that we've shared as one big community. So let us continue doing just that in new ways possible. After all, your success is also our triumph, and our history is yours to own,” Ms. Fabian said.