Business of happiness: How malls plan to weather e-commerce rise

Jessica Fenol, ABS-CBN News

MANILA - A deep mall culture, wherein the giant air-conditioned structures are at the center of happy family activities, will help brick and mortar retail withstand the rise of e-commerce, industry stakeholders said.The country&#x27;s largest mall operator, SM, is &quot;bullish&quot; on retail, said SM Investments vice chairman Teresita Sy-Coson. The company earlier announced plans to open 21 new malls until 2020.While growing its physical retail presence, SM is also testing the e-commerce waters. It offered some of its products at a sale event of online marketplace Lazada last October.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/01/17/15/weve-got-it-all-why-philippine-malls-have-chapels">&#x27;We&#x27;ve got it all&#x27;: Why Philippine malls have chapels</a></li>	<li><a href="http://news.abs-cbn.com/business/10/17/17/lazada-hosts-sm-sale-as-malls-online-stores-co-exist-in-philippines">Lazada hosts SM sale as malls, online stores co-exist in Philippines</a></li></ul>&quot;It’s going to be a family place where you can go for your massage, for your haircut, beauty parlor, to look around and all of that,&quot; said Sammie Lim, founder of furniture retailer Blims Lifestyle Group.Filipino shoppers also want to touch and feel what they are buying, said Philippine Retailers Association president Paul Santos.&quot;Brick and mortar retail is still growing. People still want tactile experience, shopping physically but e-commerce is growing also because of convenience,&quot; Santos said.There is a &quot;huge way to grow&quot; for e-commerce in the Philippines, where 10 million people transact online, notwithstanding low credit card penetration, Lazada CEO Inanc Balci told ABS-CBN in a recent interview.Online shopping is also a way for some to work around paralyzing traffic jams in the capital, Balci said.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/10/16/17/baby-diapers-help-drive-online-shopping-in-mall-country-lazada-ceo">Baby diapers help drive online shopping in mall country: Lazada CEO</a></li></ul>Like SM, National Bookstore is also expanding its physical store network while revamping its website to draw more customers, managing director Xandra Ramos-Padilla said in a recent interview with ANC&#x27;s The Boss.Shoppers will soon be able to browse and purchase from the store&#x27;s online catalog and pick up the merchandise in National Bookstore branches, she said.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/09/27/17/national-bookstore-targets-500-stores-with-e-commerce-synergy">National Bookstore targets 500 stores with e-commerce synergy</a></li></ul>The industry group PRA late Tuesday honored 12 &quot;icons&quot; of Philippine retail, including SM founder Henry Sy Sr, rival mall tycoon John Gokongwei Jr, National Bookstore founder Socorro Ramos and Blims Group&#x27;s Lim.At its core, retail is the &quot;business of making people happy,&quot; said PRA chairman Lorenzo Formoso.&quot;When a sale is made, whether it’s made for oneself, or a present, in both ways, this give happiness and joy to people,&quot; PRA chair Lorenzo Formoso said.<ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/02/28/18/sm-robinsons-rustans-bosses-among-ph-retail-icons">SM, Robinsons, Rustan&#x27;s bosses among PH &#x27;retail icons&#x27;</a></li></ul>

A deep mall culture, wherein the giant air-conditioned structures are at the center of happy family activities, will help brick and mortar retail withstand the rise of e-commerce, industry stakeholders said.

A deep mall culture, wherein the giant air-conditioned structures are at the center of happy family activities, will help brick and mortar retail withstand the rise of e-commerce, industry stakeholders said.

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Business of happiness: How malls plan to weather e-commerce rise

Business of happiness: How malls plan to weather e-commerce rise

Jessica Fenol,

ABS-CBN News

Published Feb 28, 2018 11:23 AM PHT

|

Updated Oct 18, 2018 12:46 PM PHT

Read More:

Retail

shopping

e-commerce

malls

online shopping

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