Metro Retail Stores Group in the Philippines is planning to open more stores while it continues to mull e-commerce.
Saying brick-and-mortar stores are still more profitable than online counterparts, chairman/CEO Frank Gaisano reveals that the company plans to open two more stores this year with up to eight more next year.
He says the department stores and hypermarkets company is seeking to build a synergy between its physical stores and a future foray into e-commerce, citing US e-commerce giant Amazon as also betting on physical retail with its acquisition of Whole Foods.
“It’s a good mix to have, online at the same time as a physical store. That’s what we are doing right now,” he says. “We’re still getting ready at this point. We’re not there yet.”
Metro Retail ensures its stores are stocked based on the demands of the location. While Luzon and Visayas stores may both sell jeans, the brands may be different brands, says Gaisano.
“Millennials want a ‘curated’ selection with not too many choices,” he says.