Wednesday, January 03, 2007 Competition to brighten retail industry in Cebu
THE advent of more players in the retail industry will make Cebu an exciting playground for existing retailers and consumers, a local businessman said.
Dr. Edward Gaisano, vice president for operations of the Metro Gaisano group of companies, said stores offering various products will make goods cheaper.
“All competitors are considered threats, but that is what business is about. Competitive prices will cushion the economic crisis,” he said in an earlier interview.
Gaisano said he believes that because of the growing confidence of local and foreign investors in Cebu’s economy, the retail business will be among the sectors that will show “positive signs” of growth this year.
“These investors, particularly the retail operators, are looking for stability and growth and they are confident in Cebu’s booming economic situation,” Gaisano told a press conference during the Cebu Chamber of Commerce and Industry’s (CCCI) year-end report.
Among the retail players that have plans to expand in Cebu are PriceSmart Philippines Inc., which plans to construct a warehouse store, and Rustan’s Supermarket at Ayala Center Cebu.
Rustan’s Supermarket, which closed its outlet at Mango Square mall early last year, will occupy the entire ground floor of the mega-complex—Ayala Center Cebu’s expansion building that is under construction.
Gaisano, who is also CCCI’s vice president for business and development, said the Metro Gaisano department store chain is “doing well.”
He said most Metro Gaisano branches, particularly the one in Lucena City, have achieved about 10 percent increase in sales in 2005.
But he admitted that Metro Gaisano in Bicol has suffered some losses due to typhoon Seniang, which hit the province last December.
Gaisano also said Metro Gaisano plans to open two or three more branches in Luzon within this year.
Metro Gaisano has three existing branches in Manila. These are located in Lucena City, Legaspi City and in Taguig, inside Ayala’s Market! Market! (MMM)
