Malls continue to experience low traffic

Shopping malls continue to experience low foot traffic from 50 to 60 percent of their pre-COVID level due to restrictions.

Christopher Maglanoc, president of Ayala Malls, told the Go Negosyo Forum Monday, August 30, vulnerable merchants like restaurants, salons, gyms and cinemas and entertainment, record sales of just 30 to 60 percent of their pre-COVID levels sales.

“We welcome the proposal to allow the customers to enter our malls freely and allow the `bakuna bubble’ concept to be implemented at the level of individual shops.

So this initiative will certainly help the sectors not to mention the multiplier effect of restoring employment and further fuel consumption and other economic activities,” Maglanoc said.

According to Magsanoc, some merchants chose not to open their stores even if they are already allowed to operate just to minimize further losses.

“Merchants have had to factor in higher costs of doing business due to safety measures, higher material costs and logistic costs, heavy discounting and accumulated losses from the lockdowns,” Maglanoc added.

He, however, clarified that malls are fully supportive of both the government and the business sector’s goal of “cautiously stimulating the economy.”

“The bakuna will definitely help impacted segments of the retail industry to give businesses a chance to recover and survive,” Maglanoc said.

Article and Photo originally posted by Manila Bulletin last August 30, 2021 4:39pm and written by Bernie Cahiles-Magkilat.