Local retails are optimistic about their recovery prospects as mobility restrictions ease, but the effects of the Russia-Ukraine conflict have brought uncertainty as rising fuel prices weigh down businesses. READ:
“So far, [there is] greater mobility now in retail. Most of the members are optimistic now, though the conflict in Eastern Europe is another to watch out,” said Rosemarie B. Ong, president of the Philippine Retailers Association via a mobile phone message.
In a mobile phone message, Philippine Amalgamated Supermarkets Association President Steven T. Cua said that foot traffic has not significantly increased in groceries despite the implementation of Alert Level 1 in Metro Manila since March 1. Meanwhile, Trade Secretary Ramon M. Lopez said in a mobile phone message that the relaxed mobility restrictions had helped in enticing more crowds during weekends.
Mr. Lopez said it is still hard to predict the impact of the high fuel prices in terms of consumer traffic on retail shops.
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