BPO boosts Cebu’s retail trade sector

The money coming in from the business process outsourcing (BPO) sector and from Filipinos working abroad has boosted Cebu’s retail trade sector, with traders expecting a very strong future in the city. Robert Go, president of the Philippine Retailers’ Association (PRA) in Cebu said Cebu’s growing economy and its resident’s stronger purchasing power have propelled the further growth of the local retail trade sector. The PRA also noted that the growth in the retail trade sector in Cebu was not mainly in terms of volume but also of value, SunStar Cebu has reported. In an interview with local media, Go said people in Cebu tend to now buy more expensive items, which is reflective of the buying power of the consumers. SM Prime Holdings president Hans Sy in an earlier interview said his company plans to invest at least Php20bn in developing another retail property in the South Road Properties.