AllHome Corporation, owner of the country’s pioneering one-stop full line home center, is optimistic about its prospects as it reports a marked increase store footfall to pre-pandemic levels.
In a disclosure to the Philippine Stock Exchange, AllHome and Villar Group Chairman Manuel B. Villar Jr. said the lowering of Metro Manila’s alert level to Alert Level 1 has given rise to more people returning to malls and other retail establishments–an indicator of the country’s gradual return to normalcy.
“As we anticipate the post-pandemic scenario, we are pleased that mall traffic is returning to pre- pandemic levels. We even see some days exceeding the prepandemic foot traffic. This bodes well for AllHome stores, especially our locations that serve as retail anchors to our Vista Malls as conditions normalize,” he said.
Camille Villar, president of AllHome’s parent company AllValue Holdings, noted how AllHome’s resilience allowed it to stand to the challenges brought about by the coronavirus 2019 pandemic.
“AllHome has shown resilience in capably weathering the challenges of the pandemic, in even the most stringent lockdowns. We are even more confident now as we prepare for the country’s gradual return to normalcy,” she said.
AllHome President and Chief Executive Officer Benjamin Therese Serrano said “revenge shopping” has gained traction in many of AllHome stores.
“We believe that the trend of revenge shopping will benefit AllHome as a market hungry for experiences, after a prolonged period of various lockdowns, will again rediscover the distinct customer journeys and elevated experiences that are present in every AllHome location,” Serrano said.
The “ecosystem” of AllValue stores—which include AllDay Supermarkets, AllDay convenience stores and Coffee Project—complement each and every store owned and managed by the Villar Group.
AllHome officials are also confident that “the opening up of the economy will pave way for heightened construction activities in the upcoming summer months.” “We look at 2022 with more positivity as the vaccination rate in the country increases and the restrictions ease up, further more propelling the re-opening of the economy,” Serrano said.
She added that, “Backed by our resilient performance throughout the two-year period of the pandemic, we look to the future with more optimism and vigor as we reap the positive impact of our team’s hard work and dedication to improve efficiencies and expand profitability.” AllHome has stores in stand-alone park and shop format, which makes its stores independent from the mall that benefit from the mall foot traffic as mall activities normalize.
Since AllHome’s mall-based or free-standing stores are located near the Villar Group’s housing communities and high-density populated areas, Serrano said its stores can cater to the needs of consumers.
Villar also cited the Euromonitor International report, a respected global marketing research firm, that showed how consumers are craving for convenience from always available to pre-planned experiences.
It also reported that close to half of Filipino consumers look for convenient store locations if they are to buy in that store.
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The article was originally published in Manila Bulletin and written by James A. Loyola.