How Philippines’ leading home retailer adapts to the change in retail and ecommerce
GlobalData’s E-Commerce Payments Analytics reveals that the Philippine e-commerce market grew at a compound annual growth rate (CAGR) of 19.8% between 2017 and 2022 and is expected to further grow at a CAGR of 15.8% over 2022-25 to reach PHP495.2bn (US$9.7bn) in 2025. The country saw a prominent shift from brick and mortar to e-commerce with retailers acknowledging the fact that being offline would never be the only option in the post-pandemic era. The covid-19 pandemic has undeniably created a new relationship between retail and e-commerce where both co-exist.
Wilcon Depot’s SEVP-COO, Rosemarie Bosch Ong said in an interview with Rockbird Media, that everyone should think that brick and mortar is the only option, neither is e-commerce. In this generation, omnichannel is the approach to retail whereby they go with each other.
“This is fusing online and offline stores to seamlessly provide a frictionless shopping experience.”
Wilcon Depot is the Philippines’ leading home improvement and construction supplies retailer. It carries the most extensive product selection of trusted local and international brands with high-grade features and superior quality ranging from tiles, sanitary wares, plumbing, furniture, home interior, building materials, hardware, electrical, appliances and other DIY items. It now has 18 branches spread all over the Metro, 59 stores in the provinces, 9 of which are Home Essentials – with a total of 78 operating stores nationwide.
The covid-19 pandemic did not stop Wilcon Depot from expanding and it has continued to open a few retail stores in the provinces in 2020. This home retailer has adapted quickly not only by implementing strict health measures to provide a safe and convenient in-person shopping experience but also by providing new shopping options like ‘Browse, Call, and Collect/Deliver’allowing its customers to browse through the Wilcon website or online shop and call, Viber or text the Wilcon branch of their choice and schedule a collect or deliver service. Contactless payment options such as bank transfers, GCash and PayMaya were also made available for customers’ convenience.
And as it continues to provide a safer and hassle-free shopping experience for all its valued customers it has launched other shopping alternatives with two of the most popular online shopping platforms in the country – its Official Flagship Store on LazMall in 2021 and just recently launched its official store on Shopee Mall. With these, customers can easily find and purchase their home improvement and building needs in just a few clicks with a user interface and payment methods already familiar to them.
When asked about the next big thing for Wilcon, Ong answered that the business will continuously develop as a brick-and-mortar and Omni channel, serving its customers wherever they are through the company’s strong physical and digital track. They plan to marry both channels to serve excellence in the customer journey and experience.
“Be sustainable, flexible and agile. Invest in technologies that will benefit your business in the long run. Retailers need to constantly revisit their core values, and rethink and reimagine and reinvent their brand’s position. One must be able to adapt accordingly to the changes and demands of the market.”
Author: Mariel Anne Laxamana, Marketing Director, Philippines, Payments Consulting Network
Rosemarie Bosch Ong will do the opening keynote presentation on Retail and Ecommerce in coexistence at the Retail & Ecommerce Summit Asia 2022 happening this 28 July 2022 at City of Dreams Manila Philippines.
If you found this article helpful and would be interested in reading similar articles by our consulting team, please subscribe to our newsletter.
Are you interested in reading articles on a particular payments topic, company, payments industry executive or author? Click the search icon, it’s that magnifying glass on the top right-hand side of the website, and type in the keywords that interest you. You will then be presented with a list of any articles that match your search criteria.