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Tag: Asia Pacific Retailers Convention and Exhibition

  • Formoso new chairman of Asia Pacific Retail organization first for Philippines

    Formoso new chairman of Asia Pacific Retail organization first for Philippines

    The Philippines now takes the leadership role in charting the development direction of the Federation of Asia Pacific Retailers Associations (FAPRA) in the next two years with the recent assumption of the Philippine Retailers Association (PRA) president Lorenzo C. Formoso as chairman of the FAPRA.

    Formoso becomes the first Filipino to chair this Asia Pacific Federation. The FAPRA consists of the recognized national retail trade organizations in 18 member-economies – Australia, China, Chinese Taipei, Fiji, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mongolia, Myanmar, New Zealand, the Philippines, Singapore, Thailand, Turkey, and Vietnam.Formoso, COO of Duty Free Philippines, has assumed the FAPRA chairmanship from Mehmet T. Nane, chairman of the Turkish Council of Shopping Centers and Retailers and CEO of CarrefourSa, who formally turned over the Federation’s leadership to him during elaborate ceremonies at the recently concluded Asia Pacific Retailers Convention and Exhibition (APRCE) 2015 that Manila hosted last October. The APRCE is the biggest and longest running retail industry event in the region.

    “As a veteran in the retail industry and being the concurrent president of PRA, we are confident Formoso’s chairmanship of FAPRA would be very productive.  We are sure he will guide the FAPRA in the same way he ably shepherded the PRA,” the PRA Board said.

    Formoso also sits in the board of the Asia Pacific Travel Retail Association.

    Turkey held the FAPRA chairmanship for two years – from 2013, the year it hosted the APRCE, to 2015, the year the Philippines hosted it.  The Chairmanship of FAPRA devolves  to the immediate past host of the APRCE.

    The Philippines chairs the FAPRA until 2017.

    The FAPRA was founded in 1989. It has implemented various initiatives and programs designed to develop itself and promote information exchanges and sharing experiences and concerns towards the development of the retail industry and improving the retailers’ status and the welfare of their clients in the region.

    As new FAPRA Chairman, Formoso now presides over the Federation’s policies and programs aimed at helping promote the growth and development of retailing in the Asia Pacific region.

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  • Philippines retail to get yearly revenue boost from nationwide grand sale

    Philippines retail to get yearly revenue boost from nationwide grand sale

    Philippine retail will get a yearly revenue boost from the recently launched nationwide grand sale called “Philippine Shopping Festival,” which is being eyed to become a yearly event.

    The Philippine Retailers Association (PRA) and Department of Tourism-Tourism Promotions Board (DOT-TPB) partnered to revive the Philippine Shopping Festival and decided to make it an annual event to make the Philippines a new shopping destination in Asia Pacific region.

    PRA Chairman Roberto Claudio said the Philippine Shopping Festival 2015 will put the Philippine retail close to the sophisticated and globally known shopping industry of Singapore and Hong Kong.

    In Singapore, there is an eight weeks event called Great Singapore Sale, which usually occurs in the last week of May until the third week of July

    An international report showed that shoppers, a mixture of foreigners and locals, had spent a five-year high of US$2.12 billion using their MasterCard cards during the Great Singapore Sale this year.

    To be held on October 23 to November 8, the Philippine Shopping Festival will be a two weeks sale where shopping malls and retailers in the country will offer different discounts and promo to entice people, mostly foreign tourists, to shop.

    Claudio said that the first attempt of PRA to do something like this happened two to three years ago but it wasn’t that successful.

    Now, the group and the DOT are banking on the two big regional events that will happen in the country in November as this year’s major drivers for the festival.

    The events that he was talking about are Asia Pacific Retailers Convention and Exhibition (APRCE) and the Asia Pacific Economic Cooperation (APEC) meetings which will both bring thousands of foreign delegates.

    Claudio emphasized that as per DOT data, each foreign tourist visiting the country allocates a daily shopping expenditure of US$300.

    “Just imagine if thousands of foreign delegates will spend US$300 a day just for shopping,” Claudio said.

    Around 94 malls will be participating in the nationwide grand sale.

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