With the retail sector facing challenges, companies may tap new technologies to help boost sales, reach more markets, and increase market share.
Mr. Christian Paro-an, the newly-inducted Philippine Retailers Association Cebu chapter president, cited how technologies such as Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR) have revolutionized the retail sector globally.
These new technologies “allow for more personalized and efficient customer experiences,” Mr. Paro-an said.
“Additionally, data analytics can help businesses understand their customers better and make more informed strategic decisions. As consumers increasingly move online, having a robust e-commerce platform is no longer just an option but a necessity for most retail businesses,” he added.
Speaking during the induction of new members and oathtaking ceremony of the new set of officers, Mr. Paro-an cited the need to empower the retail industry in Cebu, improve the quality of goods and services offered to our customers, foster local entrepreneurship, and to represent our interests both locally and nationally.
“But beyond our economic goals, we must never lose sight of our social responsibility. We must strive to create job opportunities, uphold fair trade practices, and contribute to the sustainable development of our beloved city, Cebu,” he said.
The country’s retail industry may experience robust growth, powered by a rising middle class and increased consumer spending. He pointed to the growth of e-commerce and the accelerated online shopping habits of consumers as a result of the pandemic.
He added that the resilience of traditional retail sectors such as convenience stores and supermarket cannot be overlooked as these continue to play a crucial role in people’s daily lives.
He also stressed the need for the PRA Cebu chapter members to work together. “Our unity is our strength. Let us learn from each other, share our experiences, pool our resources, and collectively address the challenges ahead.”
Mr. Paro-an also quoted Henry Ford as having said, “Coming together is a beginning, staying together is progress, and working together is success.”
He added that the PRA Cebu chapter could serve as an inspiration to other chapters by setting standards of excellence, championing innovation, embracing sustainability, and demonstrating the true spirit of Cebuano resilience to make a meaningful difference.
Meanwhile, Mr. Ramon F. Garcia, managing partner of Ramon F. Garcia and Company, was the guest speaker during the said event. Mr. Garcia discussed “The Decline of US Dollar and Its Possible Impact to the World Economy and the Philippines.”
The new set of officers also includes James Co, Vice President for Business Development; May Tan Go, Vice President for Membership; Jay Fernandez, Vice President for Ways and Means; Camille Aldeguer, Vice President for Finance; Jane Ong, Secretary/Treasurer; Robert L. Go, Chairman of the Board; and Chester A. Lim; Immediate Past President.
