"Expand retail activities to places with high concentration of OFWs and BPOs as they open an optimistic window for retailers in the industry."
Paderanga said innovation in cost and products are also important to survive the competition in the retail industry.
Boost from USS Washington
Perhaps one good bonus for the retail industry within the next few days is the visit of the aircraft carrier USS George Washington that is now docked on Manila Bay.
The four-day goodwill visit of the aircraft carrier, which started Tuesday, can result in the pumping of a hefty $9 million, or P432.3 million to the Philippine economy.
Sources said that each crew of United States Navy's Seventh Fleet has an allowance of $1,500, or P72,075. The aircraft carrier has 6,000 crew.
During their stay in Manila, the US servicemen will use the port located at the SM Mall of Asia as their drop-off point. They will be ferried from the aircraft carrier by water taxis to the mall's platform.
Jose Sio, SM Investment Corp., executive vice president and chief finance officer, said that the visit would surely benefit the cities within the mall's areas, since the US servicemen are expected to spend all their allowances during their four-day visit.
Restaurant and entertainment establishments in Manila and Pasay City are also expected to be packed by US sailors in the coming days.
But the US Embassy said that the visit should highlight the strong historic, community and military ties between America and the Philippines.
The American servicemen were reminded by RP-US Visiting Forces Agreement executive director Edilberto Adan to avoid trouble during their stay in Manila.
The carrier's crew conduct community projects throughout the Asia-Pacific region, including the Philippines, on a regular basis.
The troops are scheduled to facilitate some improvements at the Veteran's Memorial Medical Center and conduct an outreach program in Payatas, both in Quezon City.
With report from Chino S. Leyco
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