World association

Positive outlook from the retailers association for the rest of 2022

PHILIPPINE STAR/ RUSSELL A. PALMA

The Philippine Retailers Association (PRA) has declared its outlook for the remainder of 2022 as the public returns to pre-pandemic shopping habits.

PRA President Rosemarie B. Ong said, “We expect the second quarter to be even better than the first. So far, the outlook (for) this year is very positive despite the challenges. These challenges are external. We have no control over this. I think the main driver was domestic consumption,” Ms Ong said on the sidelines of the recent PRA Q2 General Membership Meeting in Makati City.

Asked about the rise in local cases of coronavirus disease 2019 (COVID-19), Ms Ong said the PRA hopes the number of infections “will not increase” and hamper the recovery of the healthcare sector. retail.

“I think things are under control and besides, the majority of the population has already been vaccinated. From the reports we have received, most of the infected people recover easily if vaccinated,” said Ms Ong.

The Health Department reported 13,021 active cases of COVID-19 on Saturday, following the detection of 1,825 new infections.

Ms Ong, however, said PRA members are reporting logistical problems due to a shortage of shipping containers.

“It’s a global shortage of containers because the world is speeding up (since the pandemic),” Ms Ong said.

“The deadlines have been extended. Retailers need to strategize. Before, it was two weeks, now (they have to plan around) a month. The delay has doubled, depending on the origin,” she added.

Ms Ong said some retailers had raised prices due to rising fuel prices, although the trend could not be “generalized – it depends on the sector”.

“Overall, retailers are resilient. We have been through the pandemic, we have been through so many challenges and we are working together. We collaborate and share ideas,” she added.

Ms. Ong added that “we need to improve the technology of the industry. On the one hand, it will help retailers to be more efficient in their processes – and (to manage) digital payments.

The Ministry of Trade and Industry estimates retail gross value added at over 600 billion pesos in the first quarter of 2022, up from over 500 billion pesos at the start of 2018. — Revin Mikhael D. Ochave