A well-planned store layout can make or break your business. A thoughtfully designed layout not only enhances the shopping experience but also maximizes sales and improves customer satisfaction. Here are key reasons why planning your store layout is important and why standardizing it is essential.
Maximize Sales and profit
Anticipate customer flow management
Strategically plan the placement of the destination departments
Plan impulse buying
Enhance Customer experience
Ease navigation
Create a comfortable shopping environment
Plan the cash counter line to ensure efficient and friendly customer experience
Plan services
Optimize space
Maximize space allocation
Ensure efficient use of Aisles and displays
Plan category allocation
Enhance Marketing and branding
Anticipate thematic zones
Plan promotional displays
Improve Operational efficiency
Plan traffic flow according to customer behavioral patterns
Improve employee efficiency
Improve stock management and replenishment
Ensure safety and security
Design layout to minimize accident risks
Comply with local authority requirements and regulations
Prevent pilferage through strategic layout design
Why is it important to standardize your store layout?
Streamlined expansion
Clarify/Simplify site selection process
Replicate successful store model
Faster time to market
Cost-effective development
Achieve economy of scale in areas such as:
Store design
Construction and fit-out
Equipment and fixture procurement
Visual concept material
Maintenance
Process efficiency
Streamline the planning and implementation process of the stores
Reduce time and resources required for each new store
Standardize merchandizing principles
Space allocation per category
Category adjacency
Planogram
Vendor management
Facilitate uniform standard operating procedures
Eased data analytics
Easier data analysis and comparison from various stores
Stable foundation for predictive analytics model
Brand consistency
Ensure consistency across the different locations of the supermarket chain
Marketing and promotions
Facilitate the execution of marketing strategies and promotional campaigns across all stores
The retail industry is a narrative of two stories, each reflecting the dynamic interplay between consumers and business innovation. Together, these two halves paint a vivid picture of an industry in flux, where adaptation and innovation are paramount for success.
This report provides you with an indispensable tool to navigate and strategically position yourself amidst the dynamic shifts of the market. Inside, you will find news and articles from the first half of the year, insights into the consumers of 2024, and how the lines between online and offline retail experiences are blurring. It also explores how businesses are embracing digital transformation, reshaping their stores and supply chains to seamlessly integrate into this new retail paradigm. Additionally, it introduces you to the new players emerging in the retail market.
At RetailWise, we firmly believe that keeping a finger on the pulse of what the market wants isn’t just a strategy but the heartbeat of a successful business.
Below are the snapshots of what you will find in this report.
Retail News and Updates
National Players Update
Sustainability in Philippine Retail
Philippine Consumer 2024
The Future of Retail: What’s Ahead for H2 2024 and Beyond
Conclusion:
The insights gained from the first half of the year provide a crucial foundation for navigating the retail landscape in the second half and beyond. Understanding the trends, challenges, and consumer behaviors observed in the first half of the year equips retailers with strategic foresight. This knowledge allows them to anticipate market shifts, refine their strategies, and capitalize on emerging opportunities in the second half and beyond. By leveraging these insights, retailers can adapt more effectively, enhance their competitiveness, and drive sustainable growth in a dynamic and evolving retail environment.
Moreover, staying informed about retail trends in the coming months is crucial for understanding evolving consumer behaviors and preferences. By focusing on who today’s consumers are and anticipating the trends of tomorrow—such as increased digital engagement, sustainability concerns, and demand for personalized experiences—retailers can adapt proactively. Embracing innovations like AI-driven personalization, augmented reality shopping experiences, and eco-friendly initiatives will be key to capturing consumer interest and loyalty in the future retail landscape.
Stay updated with RetailWise’s comprehensive Retail Report for H1 2024! Gain insights into the latest developments and trends in the retail industry at global, regional, and local levels. Discover innovative advancements and understand the dynamic changes shaping the retail sector. Don’t miss out, click below to stay ahead in the retail world!
This has been mentioned to death, but it’s important to stay in the pink of health more than ever. COVID-19 and other diseases are still around, sleep deprivation never stops because of work and school, social media surfing is preferred to working out, drinking and/or smoking happen whatever it takes, and a balanced diet gets skipped most of the time.
But a new health and wellness store in Makati seeks to help Filipinos lead better lifestyles.
Heyday Philippines, located at Glorietta 4, has carefully curated offerings in several categories like vitamins and supplements, fresh and frozen food, organic goodies, beauty items, and home essentials.
Aside from a health-conscious selection of goods, the store also observes sustainable and ethical practices.
Its shampoo, conditioner, and bath soap, for instance, are in bar forms, meaning they do away with plastic containers as they’re wrapped in recycled paper. They’re also made of natural ingredients, lacking harmful chemicals often found in the typical liquid form.
The store also sources its fruits, vegetables, coffee, and other food items mostly from local farms—all while being organic, cruelty-free, and low-impact. More importantly, prices are akin to grocery stores, even some public markets.
This has been mentioned to death, but it’s important to stay in the pink of health more than ever. COVID-19 and other diseases are still around, sleep deprivation never stops because of work and school, social media surfing is preferred to working out, drinking and/or smoking happen whatever it takes, and a balanced diet gets skipped most of the time.
But a new health and wellness store in Makati seeks to help Filipinos lead better lifestyles.
Heyday Philippines, located at Glorietta 4, has carefully curated offerings in several categories like vitamins and supplements, fresh and frozen food, organic goodies, beauty items, and home essentials.
Aside from a health-conscious selection of goods, the store also observes sustainable and ethical practices.
Its shampoo, conditioner, and bath soap, for instance, are in bar forms, meaning they do away with plastic containers as they’re wrapped in recycled paper. They’re also made of natural ingredients, lacking harmful chemicals often found in the typical liquid form.
The store also sources its fruits, vegetables, coffee, and other food items mostly from local farms—all while being organic, cruelty-free, and low-impact. More importantly, prices are akin to grocery stores, even some public markets.
Snacks like potato chips are hand-cooked. There are also green options like shiitake mushroom and okra chips, as well as non-fried kimchi chips.
Its granola, meanwhile, is gluten-free and free of GMO or genetically modified organisms.
But being healthy doesn’t mean there’s no fun anymore, as the store also sells organic wine made from grapes that are grown without harmful fertilizers.
It produces its own health supplements, as well as imports items that not only meet the local laws but also European Food and Drug Administration standards.
In line with its sustainability campaign, Heyday also encourages customers to bring their own shopping bags and containers. In any case, the bags it provides are made of cassava and are reusable.
Refill stations
It also has refill stations that aim to minimize the wastage of plastic and ingredients.
Aiming to make zero-waste shopping more convenient, customers may purchase olive oil, liquid detergent, fabric conditioner, and all-purpose cleaner using their pump bottles at home.
Buying spices, pasta, nuts, or coffee beans is also based on grams, letting customers purchase what they only need! With Heyday’s diverse selection, sustainable practices, and commitment to affordability, living a healthy lifestyle has never been more attainable.
Heyday is now open in G/F Glorietta 4, Ayala Center, Makati. Some of its products are also available on Lazada and Shopee.
Euroasia Research Experts is dedicated to assisting retailers in achieving their goals. Our Chairman and CEO, Mr. Eric Poiret has inspired and has came up with our corporate philosophy which embodies an unwavering commitment to establishing long partnerships, striving for excellence, and fostering innovation.
WE COMMIT TO STAY.
We establish ourselves as trusted partners, working closely alongside our clients to drive progress and foster innovation. Going beyond traditional consulting, we cultivate progressive partnerships built on mutual trust and collaboration. With a strategic focus on end-to-end engagements, we provide recommendations grounded in comprehensive feasibility studies and extensive market surveys. What truly distinguishes us is our commitment to executing these strategies side by side with our clients. We take prompt corrective action, ensuring firsthand experience of the benefits, rather than relying solely on presentations. With a steadfast dedication to the success of our stakeholders, we offer a collaborative, results-driven approach that embraces challenges and seizes opportunities for sustainable growth.
WE COMMIT TO EXCELLENCE.
We uphold the highest standards, pursuing excellence in all we do. With profound expertise, we provide industry-leading benchmarks, cutting-edge solutions, and customized excellence for our stakeholders. Collaborating closely with clients, we shape strategies that drive growth, empower informed decision-making, and ensure a competitive edge. Our thoughtful, phased approach brings international retailer practices to smaller organizations, supported by time, training, and coaching. Our commitment to excellence empowers clients, ensuring long-term sustainability and reaching new heights of success.
WE COMMIT TO INNOVATE.
We are committed to innovation, constantly evolving alongside the market as one of our core strengths. Through continuous engagement in market research, we remain up-to-date on the latest international and regional trends, consistently staying at the forefront. This deep understanding enables us to suggest pioneering ideas and serve as trailblazers for our clients, actively anticipating the next market moves. By proactively creating favorable conditions, we empower our clients to achieve success.
Throughout history, the use of technology has had a significant impact on improving people’s way of life. Humans have been successful in transforming these technologies into innovations – examples are products that promote better health and lifestyle, and processes and services that streamline how we work and how we do things. But the real measure of the impact of any technological innovation will depend on how far we reach out to others. In other words, innovations should not choose demographics, education, age, or income class.
The Unserved
In “The Fortune at the Bottom of the Pyramid” (2007), C. K. Prahalad shared a radical idea combined with substantial research data on alleviating poverty through economic development and social transformation. According to Pralahad, there is an estimated four to five billion people within the global population living with less than USD 2 a day who are at the Bottom of the Pyramid (BOP). Recent data from the World Bank shows that in 2017, an estimated 9.2% of the global population of approximately 689 million people lived in extreme poverty. Last year, the COVID 19 pandemic has increased this number by an estimated 88 – 115 million people (measured through the International Poverty Line of $ 1.90 /day).
Figure 1: The impact of COVID-19 on global extreme poverty
According to studies conducted by Asian Development Bank in 2018, in the Philippines alone, 16.6% of the country’s population, or approximately 17.6 million Filipinos lived below the national poverty line. Additionally, the 2019 data shows that the percentage of the employed population living below $1.90 PPP (purchasing power parity) per day is 2.7%.
Figure 2: Poverty Indicators (Source: Asian Development Bank Statistics April 2020 (adb.org)
This consumer group remains unserved by large businesses possibly due to the lack of strategies on how to reach out to this unique niche market segment or businesses are simply not aware of their potential engagement and loyalty.
Awareness and Technological Innovations
Awareness and recognition of the bottom of the economic pyramid and eventually the development of products, processes, and services catering to the “poor” group can potentially lead the way to a new approach in looking at a profitable business. Companies will need a fresh set of eyes and mind to be able to come up with ideas on how they can support this underserved and mostly unbanked population which will impact their lives and for the business to profit in the end.
To help businesses, here are important points of Prahalad’s Twelve Principles of Innovation for the Bottom of the Pyramid which can be used as a guide in creating or investing in technologies for their companies.
Focus on price performance. BOP consumers are looking for products that are affordable and yet come in the full package. With their limited budget, companies should create products and services that are not necessarily cheap but should be value for money with competitive pricing.
Innovate by providing hybrid solutions while blending old and new technology. BOP consumers prefer simplified, useful, and user-friendly innovations. Companies should think of how to transform existing technologies that would meet this market’s needs.
Make it scalable and transportable. In order to reduce cost and maximize sales through high volume, companies should develop products that would cater to the BOP consumers across cultures and languages as well as integrate economies to capitalize and market their products and services across distance and beyond borders.
Reduced resource intensity: eco-friendly products. As BOP Market needs to conserve their resources, companies should find better solutions to come up with products and services encouraging recycling, reduction of waste to create an eco-friendly environment.
Product Design with Functionality from the beginning. The BOP Market would look into practical designs of products and services that would meet their specific needs. Companies should be able to incorporate functionality but also be clear on how their technology will be used by their consumers.
Building process innovations. Standardization of processes combined with proper training can streamline and enhance a better business environment. This in turn can cut down costs and drive additional savings which can be passed on to BOP consumers.
Deskill (services) work. With the application of technology, automation will remove manual tasks and labor-intensive works can be mechanized, automated, and computerized. This could increase output significantly and provide cheaper products. Or companies can invest in technologies that would require fewer skills, therefore, simplifying the process.
Educate customers in product usage. Companies should be able to devise plans and strategies in how to teach their BOP market to be early users to be able to accelerate adoption through customer engagement and tapping influencers.
The product must work in a hostile environment. The environment where the BOP market is different so the overall package of a product should be considered as less sophisticated and should withstand noise, dust, unsanitary conditions, abuse, electric blackouts, and water pollution. Companies should be able to test their products for durability and expiration. Another important factor is making sure that customer support is available.
Simplified and adaptable user interface. Technological applications should be diversified and should be developed by companies to cover a wide consumer base. This will encourage user-friendly products which can lead to higher customer retention.
Innovate in Distribution. Companies should invest in technologies that can improve their procurement, distribution, and logistics in different environments such as dispersed rural markets or highly populated urban markets.
Focus on broad architecture to enable quick and easy incorporation of new features. Future add-on features which are added values to the consumers should be considered when investing in technologies and companies need to ensure that these features are easy to incorporate later on.
BOP Going Digital
As companies use Prahalad’s 12 Principles to guide them in developing or investing in products and services, it is also critical for them to ensure that BOP is present in space. In the Philippines, more than half of the total population as of January 2020 were internet users (statista.com). But according to Bangko Sentral ng Pilipinas latest financial inclusion survey, there is still a wide gap in digital literacy between income brackets. Only 40% of Class E are digitally literate. As companies diversify from offline to online, they can leverage by creating awareness programs and campaigns to transform the BOP into a solid digital market. Converting them as digital consumers is a crucial step in adoption and will therefore play a vital role in any company’s success.
Awareness and recognition of the bottom of the economic pyramid and eventually the development of products, processes, and services catering to the “poor” group can potentially lead the way to a new approach in looking at a profitable business. Companies will need a fresh set of eyes and mind to be able to come up with ideas on how they can support this underserved and mostly unbanked population which will impact their lives and for the business to profit in the end.
Bottom of the Pyramid as a Corporate Priority
With the massive adoption of mobile technology, companies should create strategies to include the Bottom of the Pyramid in their target customers. This population should be viewed as an important, growing, as well as a viable, and profitable market. The BOPs can afford to buy unique, low cost but good quality and sustainable products and services mostly in cash and can be potential loyal customers. And as we move further to a more digital economy, companies can benefit from paying attention and supporting the needs of the Bottom of the Pyramid by incorporating.
Love, intimacy, and romance may be different for most people this year. Due to travel restrictions and social distancing guidelines, even short distances have turned into LDRs (long-distance relationships). While some may be lucky enough to be together, still the usual celebrations may not be possible as in the past. It is a good thing that Filipinos are known to be resilient. Over the years, Filipino expressions of love and romance have evolved with cultural adaptations of the modern world, economic situations, societal trends. With Valentine’s Day fast approaching, let us take a loving look at Filipino romance over time and understand what they did for love.
USO PA BA ANG HARANA? (Does serenading still exist?)
As a line from a popular song reverberates in my mind, I am taken back to stories my grandmother told me on how women were swooned by bachelors with evening serenades. Done with an entire combo (band of musicians), the lovestruck hopeful serenades his ladylove who shyly looks from above, peeking through the windows.
Puno ang langit ng bituin At kay lamig pa ng hangin Sa’yong tingin akoy nababaliw giliw
At sa awitin kong ito Sana’y maibigan mo Ibubuhos ko ang buong puso ko Sa isang munting harana para sa’yo
– uso pa ba ang harana, parokya ni edgar
Perhaps because homes hardly integrate wide open windows nowadays or high-rise communities have evolved for safety and convenience, harana is ancient. As times changed, this sincere gesture of love offering slowly faded into oblivion. Thankfully though, it has not gone extinct; only reinvented with time.
MR DJ, CAN I MAKE A REQUEST? – Sharon Cuneta
From the DIY serenade in the olden days, expressions of love channeled on to new dimensions. With the emergence of the powerful AM/FM transistor radio, love language penetrated the airwaves in the 70s and 80s. I recall how Joe D’ Mango’s Love Notes that aired with “Dear Joe…”, and radio stations like Mellowtouch playing romantic ballad requests became famous and well-loved by cupid’s targets.
While the Gen Zs and Generation Alpha may find this all-too-amusing and tacky, they are doing the same things in a different way. Virtually, that is. YouTube, Facebook, Viber, Whatsapp, IG, Twitter among others have all become channels to reach even the farthest object of love and affection. The younger ones nowadays sing their hearts out in cover songs perhaps meant for someone in particular but for all the world underneath the moonlight to see and hear ….
Sa ilalim ng puting ilaw Sa dilaw na buwan
Pakinggan mo ang aking sigaw Sa dilaw na buwan
– buwan, juan carlos
P.S. I LOVE YOU
I don’t know about you but I am still in love with the art and craft of writing. True, MS Word has made life easier. But, I still love the smoothness of the paper, examine the spacing between lines, and carefully pen each cursive stroke especially when writing letters to special people.
Mister Postman look and see (Oh, yeah) Is there a letter in your bag for me? (Please, please, Mister Postman) I been waiting a long, long time (Oh, yeah) Since I heard from that girl of mine
– The Marvelettes, The Carpenters, The Beatles
In the pre-Hispanic era, letters between soon-to-be-lovers were exchanged through a mediator who hand-carried the notes, often in secrecy. Then came the Pen Pal stage when love notes were sent through snail mail and good old Mr.Postman became every young lady’s best friend. Given the extensive scope of electronic mail and a plethora of social media channels, love letter sending is no longer mainstream. It is good to hope, however, that there remain romantic couples who find the extra effort more sincere and amorous and thus continue on with the tradition. (IKR, I am an old soul.)
I JUST CALLED TO SAY ‘I LOVE YOU’ – Stevie Wonder
When telephones invaded the world, love letters were sealed in a box and found their resting place under the bed or deep into the closet. From spending hours on finding the right words to write, partners shifted towards hours telling each other sweet nothings over the phone. My parents would often scold my lovestruck sisters then for burning telephone lines (telebabad in colloquial terms). Even without phones at home, all it took was a walk towards the corner grocery store and three 25 centavo coins to make a 3-minute call. Actually hearing someone say the three words in hushed modulated tones never failed to make the ladies blush and squirm with delight. Soon enough and sadly so, the iconic telephone booth with a bulky red coin-operated phone is nowhere in sight.
ILY. OMG??? AWWW… ILY2
While I submit to the fact that communication has indeed become more convenient and immediate with technology, it amazes me that the advent of cellular phones led to a whole new level of courtship. Shortened words, jumbled letters, and an entirely new list of acronyms that made the writer in me cringe every time. In my time, the popular acronyms used on slum book dedications that sent love jitters to the spine where TCCIC (Take Care ‘Coz I Care), ITALY (I Trust and Love You), and 143444 (I Love You Very Much – count the letters on each word). Texting has created a whole new set of everyday vocabulary that non-Millennials like myself would Google to understand!
While becoming Textmates and Callmates gave a certain level of excitement for the younger generations, getting that sweet YES became easy as typing I-L-Y with thumb work speed. It may either mean I LIKE YOU or I LOVE YOU which seem to be taken on the same level. That is probably the reason why this love evolution had brought about both boon and bane effects towards the persons involved. Others find true love after a series of dates or ‘eyeballs’, some are not as lucky falling prey to deceitful individuals.
Back then, date nights were important. Even as adults, it was important to seek permission or ask for the blessings of parents and elders. Real gentlemen fetched the ladies from home and took them back before the clock struck twelve. Then dating became so loose and casual as to “Let’s Eyeball”, a risky decision to meet up with a textmate you hardly even know.
Fast forward, wanting to see someone these days does not require riding the MRT or booking a Grab ride. It is done as quickly as tapping video chat on any social media platform. Couples now enjoy an eternity of virtual togetherness, for as long as the internet signal remains stable.
There are many more ways that love and courtship may have shifted from one generation to the next. It may probably require more storytelling with lola, nanay, ate, kuya, totoy and baby to understand the evolution of Pinoy love. The truth remains that love in any language, puts us all together, never apart as one song goes. And for Pinoys and everyone else in the world, LOVE ALWAYS FINDS A WAY.
The latest Korean Drama or K-Drama craze has hit the country and other parts of the world with the airing of “Start-Up”. Different fan groups of the lead characters were quick to get hyped up, but even non-fans got hooked with the love triangle story that had been a common plot for as long as we can remember, yet we can’t get enough of it.
But besides the obviously enthralling love story, the series is packed with lessons that millennials and young professionals should take note of. Lessons that go beyond love; investments and start-up businesses.
The path to success was and will never be a straight line
As kids, we grew up with the idea that as long as we take care of our studies and remain competitive in our academics, we will have a bright future ahead of us. Which isn’t a lie. But what we failed to learn while we were young is that the path to success isn’t as straight as what our storybooks have led us to believe. The reality of life usually kicks in when we reach our 20s, thus the term “adulting” came in. Transitioning from the idealistic world of our childhood and the wildness of our teenage to the grueling reality of adulthood could be overwhelming, and even the most promising prodigies can get lost in their paths. For this reason, the show intends people to see that being lost isn’t the endgame, but rather a bump in the road that we need to traverse. No one can be considered a complete failure because there’s still too much to be explored and too much to discover. Most of the time, these major bumps in the road make us see that our paths may not be conveniently straight, but the twists and turns often lead us to where exactly we have to be.
You can’t be a CEO if you can’t make decisions
In life, it’s true that one can’t please everybody. The same goes for running companies. A good person would like everyone to be happy with where they are and what they receive. But this can hardly be applied in running a company. As much as you want this, it is impossible to achieve. A CEO should work not to please every employee but to make decisions, no matter how risky or hard for the betterment of the company as a whole. A good CEO is someone willing to take responsibility for the decisions he or she makes.
You have to be more careful when a deal is too good
Just as much as we would like to believe that the corporate world is a friendly place, we have to be very critical with our business affairs, particularly as young professionals. It may be bad to be very cynical up to a point of being pessimistic with everything and everyone, but being extra careful before signing anything will help us in finding the right partner, right clients, and right investors. If a deal is too good, it is definitely a good thing to consult another professional who holds expertise in this matter to give the deal a new interpretation and perspective. Since millennials are still considered new to this stage, finding people to trust and learn from is just as important as enhancing your technical skills.
Charisma is just as important as technical skills
We were taught from a young age that as long as we excel in Science and Math, we would excel later on in our lives. Usually, the noisy ones are perceived as the kids who will not do very well outside school. But in reality, and after gaining maturity, we realize that this is not always the truth. Our noisy classmates in the past are often the charismatic employees now with the capability and potential to lead teams and companies. This further proves the importance of every part of the team, with varying expertise and strengths in different areas.
You must always know your why
One of the most important lessons in the whole series is establishing the reason why you do what you’re doing. Whether it’s for financial reasons, for your dreams, or simply to prove something, this reason would fuel you, especially in the rough times. In a very interconnected world where success became the measurement for your status as a person, it is very easy to get lost doing what society wanted us to do just to be considered successful. The very coveted word is by itself also a reason why so many millennials right now are lost.
The series tells its viewers that it is easier to go through the difficulties as long as the vision, goal, and reason for persevering is clear. Just like in the corporate world, a company has no identity without its vision, mission and goals.
Transitioning from the safety nets of dependency to independent adulthood can indeed be overwhelming. When we were kids, we are often asked “What do you want to be when you grow up?” and we always answer with confidence and a strong sense of aspiration making it seem so easy to someday reach our dreams. But when reality hits, it’s always disheartening to see that no matter how prepared we think we are, there are still so many things that our future experiences are yet to teach us. Adulthood is realizing that we can never really be fully equipped, but we continue moving forward nevertheless. Adulthood doesn’t mean we don’t get scared anymore, but understanding that fear is natural and it shouldn’t stop us.
Start-up as a TV series is so fun and compelling because it greatly depicts the struggles and yet the potential for success for every young professional. It shows the funny side, the romantic side, and the confusing areas that we always find hard to deal with. But more importantly, it is packed with pragmatic life and career lessons that would come very handy in this period in our lives.
