Retailers told to brace for holiday spending; boost offline, online presence

RETAILERS should ramp up their omnichannel strategies to take advantage of spending during a perennially strong fourth quarter, a property research firm said.

In its recent market outlook, Colliers Philippines believes that a brick-and-click strategy is the way forward post-pandemic.

This means that retailers have an edge if they have both offline and online presence to grow their businesses, especially since consumers are now returning to malls and at the same time maintaining their habits shop online.

Colliers said retailers will need to implement more innovative omnichannel strategies as they maintain and complement their presence in malls with online shopping platforms and put a premium on efficiency and convenience.

Colliers said most of its surveyed consumers have shown willingness to even pay a premium for a subscription-based delivery program offering same-day delivery, emphasizing that “delivery efficiency will be the name of the game.”

“Colliers Philippines believes efficient logistics is crucial in luring consumers to continue shopping online. This is particularly important especially now that more Filipinos are returning to in-store shopping, as shown by rising consumer traffic in malls,” the company said.

Consumers will continue to choose online shopping to avoid heavy traffic and long lines at checkout counters. This is important, especially for a typically busy fourth quarter, where in-mall shopping is buoyed by holiday spending.