Tourism as an Opportunity for the Retailing Industry

Confronting the economic challenges for the retailing industry is not merely through creation but in innovation, said Mr. Sammie Lim, Chairman Emeritus of the Philippine Retailers Association, during his welcome remarks to the opening of the 17th National Retail Conference. He also added that one industry with lots of innovation opportunities is Tourism.

"Tourism is where the future of retailers is. We can make the Philippines as the next shopping capital in Southeast Asia through the collaboration of the public and private sectors," he explains.

This perspective is supported by the belief of DOT Secretary Joseph Ace Durano that Philippines has become an interesting shopping place for tourists.

He explains, "Every year, not less than a hundred of foreign travel media visits the country and most of them are amazed by the quality of Filipino brands in terms of design, quality of make, and affordability."

Durano sees the Philippines to become a shopping destination. However, he explains that it's not because of high brands and big discounts but due to value proposition. "The value proposition for the Philippine shopping industry is the great quality of products at an affordable price."

In line with this, DOT is launching Shop Fest Philippines in September 2008. Unlike with shopping fest in other countries, the local shopping fest will not be about sale and discounted products, he explains, but it is focused on selling Filipino brands as great quality.

"The event will serve as an opportunity for retailers to promote their brands as value proposition," he adds.

The people from the retail industry see tourism as an opportunity. However for the tourism industry, retail opens up new market and increase the contribution of the industry to economy. "It is in retailing where the future of tourism is," Durano shares.

Durano was the keynote speaker to the opening of the17th National Retail Conference at the Crowne Plaza in Galleria. Tomorrow (Aug 15) is the last day of the conference and the exhibit. The exhibit is open to public for free.