CLARK FREEPORT – Big and traditional businesses are now being eaten up by modern technology – online sellers and online stores.
This was the observation made by Pampanga Chamber of Commerce and Industry, Inc. (PamCham) president Engr. Jesus “Jess” Nicdao during the media forum “Balitaan” organized by the Capampangan in Media, Inc. at the Bale Balita here last Friday.
Nicdao disclosed that he had a recent conversation with Tessie Sy-Coson who told him of their plan to put up an online store soon.
Coson is the vice chair of SM Investments Corp., one of the Philippines’ largest publicly traded holding companies with interests in retail, banking, property and portfolio investments.
According to her business portfolio, she is the chair of BDO Unibank, Inc. (BDO), the Philippines’ largest bank in terms of total resources, capital, loans, total deposits, and assets under management.
Nicdao said Coson admitted that their business rivals are now the small entrepreneurs like online sellers.
“Yung sale of SM stores nila dropped by 30 percent because of the online sellers,” he said.
“If you buy appliances or clothes, it’s cheaper online,” he said.
“That is why Ayala Corp. has Zalora and Jack Ma of the Alibaba Group has bought 51 percent of Lazada.”
Nicdao said “Silverworks” sales jumped five times more with Lazada and with only one employee with online shopping.
Silverworks Philippines is a leading retailer of sterling silver jewelry in the Philippines.
Nicdao said he himself has experienced online shopping which has faster delivery services and much cheaper.
He said he placed an order for TVs in the morning from Lazada, which is now the number-one online shopping and selling destination in Southeast Asia, and was surprised when the orders were delivered on the same day in the afternoon.
“The delivery crew told me that Lazada now has a warehouse in the City of San Fernando,” said Nicdao.
