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Toyota Motor Philippines recognizes excellent 2024 performance of dealer network

Toyota Motor Philippines (TMP) recently celebrated its top-performing dealers for 2024 at the annual Toyota Dealer Awards held during the 2025 Dealer Conference. Outstanding marketing professionals and service advisers were also acknowledged during the Toyota Outstanding Performers in Sales and Service (TOPS) Awards.

The prestigious President’s Award of Excellence was given to Toyota Marilao, Bulacan, Inc. (TMR) for the large business division; Toyota Nueva Ecija, Inc. (TNI) for the medium business division; and Toyota Tarlac City (TTA) for the small business division. This award goes to the dealers who have achieved overall excellence in all aspects of dealer operations and have the highest rating among all dealers in their respective divisions.

1st and 2nd runner ups within this award include Toyota San Fernando, Pampanga, Inc. and Toyota Pasig, respectively, under the large business division; Toyota Silang, Cavite, Inc. and Toyota North EDSA under the medium business division; and Toyota Subic, Inc. and Toyota Plaridel under the Bulacan small business division.

Toyota Marilao, Bulacan, Inc. also received the President’s Value Chain Award, while Toyota Nueva Ecija, Inc. was presented with the President’s Customer Satisfaction (CS) Cup of Excellence Award.

During his speech, TMP Chairman Alfred V. Ty shared, “I would like to remind Team Toyota Philippines of our mission of making ever-better products and creating happiness. Let us unite our efforts as one Toyota to remain number one in the hearts of every Filipino.”

TMP also acknowledged awardees for the Toyota Dealer Achievement Award — Overall Operations, Toyota Award of Excellence — Operations Performance, and various Special Awards.

“2024 was indeed a year of challenges and we overcame it all through your hard work and dedication. As we step into 2025, we do so with gratitude for our continuous partnership, and we are very excited for the road ahead,” shared TMP President Masando Hashimoto in his address to the Toyota dealer network.

Marketing professionals and service advisers were also recognized during the Toyota Outstanding Performers in Sales and Service (TOPS) Awards.

Awarded as TOPS Club Elite Members are Richard Taqueban Amanse of Toyota Quezon Avenue, Inc.; Janine Eugenio Mendoza of Toyota North EDSA; Aldrin Hernandez Garcia of Toyota Marilao, Bulacan, Inc.; Ivy Marie Torres Latosquin of Toyota Marilao, Bulacan, Inc.; and Marvin Balason Aloria of Toyota Batangas City, Inc.

Ramil Angelo de Guzman Tantay of Toyota Marilao, Bulacan, Inc. is recognized as TOPS Finest Marketing Professional of the Year.

TOPS Finest General Job Service Advisor of the Year is awarded to Vladimir John Pangilinan Yutuc of Toyota Tarlac City; while TOPS Finest Body and Paint Service Advisor of the Year is accorded to Ma. Precious Claire Perez Castro of Toyota Isabela, Inc.

 

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Taking initiative for a sustainable planet

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By Angela Kiara S. Brillantes, Special Features and Content Writer

As the planet faces the harsh realities of climate change, climate action needs to further accelerate. According to the World Meteorological Organization (WMO), 2024 was marked as the hottest year in history, with extreme temperatures on land and ocean, as well as rising sea levels and greenhouse gas levels.

Recognizing the urgency of the climate crisis, global chief executive officers (CEOs) are increasingly driven by the need to reinvent their companies in response to climate change. To ensure long-term success, business leaders are transitioning toward net zero emissions and investing in climate-friendly technologies.

In a PwC report, about 33% of global CEOs anticipate that climate change will significantly influence how their companies operate over the next three years. This is echoed by another study, which showed that 37% of employees expect their jobs to be affected by climate change within the same time frame.

Since then, companies have been taking charge of managing climate impacts. Many have seen tangible benefits from their climate-friendly investments and sustainable initiatives, among them higher revenue from their climate investments over the past five years.

Within the country’s real estate sector, Filinvest REIT Corp. (FILRT), the country’s first sustainability-focused real estate investment trust company, has taken significant initiatives in climate action, exemplifying the power of clean and sustainable energy in business operations.

Established in 2015, FILRT is setting an example in the sustainable real estate movement by utilizing cleaner and more energy-efficient power across its buildings.

“FILRT recognized early on that efficiency and environmental responsibility are closely linked. This understanding shaped its approach, integrating sustainability into its strategy and property portfolio,” FILRT President Maricel Brion-Lirio told BusinessWorld in an email.

With sustainability having been a key driver of its growth in recent years, FILRT has enhanced its operational efficiency and dramatically reduced utility consumption through clean, energy-efficient solutions.

“FILRT contributes to sustainable development by integrating energy-efficient solutions and clean technologies across its properties, reducing environmental impact and supporting climate change mitigation,” Ms. Brion-Lirio added.

For instance, its Axis Tower One and Vector Three, 25- and 22-storey office buildings, respectively, are designed with sustainable features, including energy recover ventilators (ERVs), low consumption lighting and plumbing fixtures, and strategic building orientation. Both buildings are among the country’s LEED (Leadership in Energy and Environmental Design) Gold-certified developments.

Another remarkable example is the District Cooling System (DCS), which is designed to reduce electricity consumption by 40%. The cooling system produces and distributes cooling energy, primarily chilled water, through a network of underground pipes, reaching various buildings within a district.

In the Northgate Cyberzone, a hub for technology-based businesses in Filinvest City in Alabang, 81% of FILRT’s buildings utilize the DCS, making it the first and largest cooling system in the country. It provides various benefits such as reduced greenhouse gas emissions, improved energy efficiency, and enhanced cost-effectiveness. Its focus on clean and sustainable energy has perfectly aligned with global sustainability standards and reduced reliance for non-renewable energy sources.

Currently powered by 100% renewable energy, the Northgate Cyberzone tops the 94% of FILRT’s office portfolio that are fully powered by renewable energy as of last year. It has also been the starting point of the company’s renewable shift. As per its 2021 Annual and Sustainability Report, the company started its renewable energy initiative in 2020, which resulted in six buildings in the Cyberzone being powered by renewable energy sources since 2021, accounting for 26.5% of FILRT’s total energy consumption.

By 2024, all buildings in the Cyberzone have fully transitioned to renewable energy, reflecting the company’s commitment to sustainability and minimizing its environmental impact.

“FILRT’s Northgate Cyberzone distinguishes itself as a forward-thinking business hub, incorporating advanced energy-efficient and clean technologies that prioritize sustainability, operational efficiency, and tenant well-being,” Ms. Brion-Lirio said.

“By incorporating renewable energy, efficient cooling systems, and eco-friendly transportation, Northgate Cyberzone is prepared for future demands. It offers businesses a sustainable, adaptable space that not only meets today’s environmental and operational needs but also positions itself to thrive in the evolving landscape of the future,” she added.

In the digital services sector, Teleperformance (TP) addresses climate action as both a business strategy and a collective responsibility to the planet and future generations.

In 2008, the company embarked its sustainability journey with the Citizen of the World (COTW) program, positioning itself as a global pioneer in sustainability. The program focuses on humanitarian initiatives, addressing environmental issues, and promoting environmentally friendly and responsible business management.

“TP remains resolute in achieving its commitment to Net Zero by 2040. Our operations in the Philippines, as one of our global group’s largest operations worldwide, catering to over a hundred markets, plays a crucial role in achieving this feat,” Jeffrey Johnson, chief people officer of TP in the Philippines and president of Citizen of the World (COTW) Foundation Philippines, said.

“We plan to continue pioneering the use of renewables in the majority of our operations. We plan to continue monitoring, evaluating, and iterating our sustainability goals, as well as mobilizing people to march towards our envisioned future.”

Green infrastructure

FILRT goes beyond meeting sustainability standards; it elevates them. With the right green infrastructure in place, the company empowers operational efficiency and helps tenants achieve their ESG goals.

For instance, FILRT’s infrastructure includes 100% renewable electricity sourcing, generating electricity by harnessing energy from various sustainable sources; and electric vehicle (EV) charging stations, providing safe and efficient way to charge EVs.

In the Northgate Cyberzone, adoption of EVs is evident as Ecoloop offers a more convenient, eco-friendly, and hassle-free transportation service to get around the district. These electric-powered vehicles help enhance air quality, lower carbon emissions, reinforcing their clear focus on sustainable practices within the area.

This approach not only attracts multinational companies, keeping occupancy rates high, but also solidifies FILRT’s commitment to “creating an ecosystem where businesses can thrive in future-proofed, sustainable environments.”

“By integrating these sustainability initiatives — along with energy-efficient building designs, responsible resource management, and green certifications — FILRT continues to provide workspaces that not only meet business needs but also support environmental goals, fostering a more sustainable built environment,” Ms. Brion-Lirio said.

Concurrently, TP is optimizing renewable energy efficiency and sustainability through the COTW program. This program is aimed at minimizing environmental impact, promoting eco-friendly business practices, and accelerating the adoption of renewable energy.

COTW has also been instrumental in renewable energy adoption and related initiatives. Currently, 60% of its energy consumption is sourced from renewables, including hydro, solar, and geothermal energy sources.

On another note, the company uses Science Based Targets Initiative (SBTi) goals, a framework that helps them achieve global targets of Net Zero emissions by 2040. This framework enables the company to track and minimize its carbon footprint worldwide.

Substantial returns

Integrating energy-efficient and clean technologies brings many benefits, from reduced operational costs to enabling a healthier environment for occupants.

One key benefit of energy-efficient and clean technologies is the noticeable decrease in energy consumption. For example, FILRT’s EDGE-certified buildings have reduced energy use by at least 20%. On top of that, their LEED and WELL-core certifications have not only ensured that their buildings are energy-efficient, but also provide high standards of air quality, natural lighting, and thermal comfort — all of which are key aspects of a healthier and more sustainable spaces.

Energy-efficient and clean technologies also promote carbon neutrality. By utilizing renewable energy, it reduces the use of external power and accelerates the path to net-zero emissions. Currently, the Northgate Cyberzone’s zero carbon rating exemplifies this progress.

For its part, TP’s shift to renewables has significantly reduced energy consumption by 35.8 million kilowatt-hours (kWh). By utilizing uninterruptable power supply (UPS), a backup power system used during power outages, TP achieved a reduction of 1,495 metric tons of carbon emissions last year. The company’s implementation of Earth Hour, where it observes a monthly lights-off event, has saved at least 27,123 kWh in consumption, equivalent to 19.2 metric tonnes of CO2 over the same period.

Sustainability has become a fundamental pillar of business growth and strategies. Through sustainable investments and practices, businesses are helping the planet advance steadily toward greater climate resilience. And in a more tangible scale, they enable individuals and communities to thrive in healthier and more efficient environments.

What would it take for Philippine companies to be future-ready?

For sustainable success, companies must build the business and organization in tandem. It cannot be one and leave the other for later.

That season towards the closing of one year and the beginning of a new one is an auspicious time to take stock of the past and gear up for the future.

For business leaders, looking back and forward means asking: Where are we now as a company and how is the environment in which we operate? The corollary question would be: Are we future-ready?

Regardless of the industry you are in, the future will become more and more digital than it is now.

And in this digital age, we are seeing the emergence of a new generation of consumers, workers, and leaders who are deeply immersed in technology. They are the Millennials and Generation Z, born between the years 1981 and 2012.

This population segment — now in their teens to early 40s — grew up and are living with digital technology seamlessly integrated into their everyday. For them, navigating a smartphone is instinctive. The millennials and, more so, the Gen Zs default to being digitally enabled.

On the other hand, the older Baby Boomers and Generation X came of age, worked, and became successful without all of the conveniences or even the mere availability of digital tech. They know of an ‘offline’ world. They have a way of getting through the day and achieving the outcomes they want without the internet of things.

The gap between these two sets of generations goes beyond the capability to operate devices and navigate apps; differences also lie in terms of world view, mindset, values, and ways of working.

Among Philippine companies, Acumen Strategy Consultants has seen that age divide adversely impact the organization and the business as most decision-makers still belong to the older generation set.

Many of these top executives still have some reluctance towards digital transformation, both for the internal development of their organization and the evolution of their business and marketing operations to meet the needs of changing consumer segments.

But no company could hope to be future-proof without embracing digital transformation in more ways than one.

At the same time, adaptations should be taken with caution by keeping a reality check on technological trends that, more often than not, tend to be hyped.

There is so much conversation going on, for example, on artificial intelligence (AI).
But before using generative AI as part of a company’s strategy to be future-ready, they have to take a really close look at which applications of AI — and any technology upgrade for that matter — would best serve their business and the organization.

Companies should avoid falling prey to aggressive vendors who sell software or tools that are either over-engineered, customers do not really need, or the organization is not really ready for because the data required to run the system first needs sorting and, more importantly, the human resources are not equipped and culturally-prepped to adopt.

THE INDISPENSABLE YIN-YANG

In ensuring a company’s future-readiness, one key principle that Acumen has proven and been putting into practice for its clients over the years is: A constant and enduring growth for any corporation entails building the business and the organization in tandem.
It cannot be just one and leaving the other for later.

Working with clients across various industries throughout Acumen’s more than two decades of operations has shown that this credo is truly the yin and the yang of sustainable success.

There are a good number of Philippine companies that focus on just growing their top line, ensuring that they are profitable, their market shares are up, the stock price is up, and continuously expanding the business.

Such single-sightedness often means a failure to invest and put in the same passion in building their organization — the workforce’s capability, the tools, and the overall human resource management system.

Acumen has seen that such folly never leads to sustainable success.

Ultimately, the most important resource of a company is its people.

On the flip side, corporations cannot just build the organization by going on a recruitment frenzy and giving out all kinds of perks — essentially implementing a robust attraction, retention and rewards system without having the right business strategies.

This represents an oversimplified game plan wherein decision-makers say: We believe we got some very good products, so let’s employ a lot of people, then launch and penetrate the market, and scale up right away!

Without stepping back, defining the corporate strategy, and laying out a very strong customer value proposition, the business will eventually tank.

Failing to maintain good business health will soon enough mean an inability to sustain a good organization — because the company simply cannot afford it.

Embracing and putting the yin-yang of business into practice is, of course, easier said than done.

In applying the environmental, social and governance (ESG) framework, for instance, companies fall into the trap of just logging in how many people have been sent for related training.

The more important metric, however, is whether those training hours actually translate to enhanced capabilities, which then contribute towards achieving the corporation’s ESG goals in line with business values and growth targets.

The balancing act could prove daunting for corporate leaders. But external guidance can provide clarity and direction towards the business strategy and organizational development needed amid an environment of continuous digital transformation.

Acumen’s collaborative approach and range of services — strategic business planning, commercial road-mapping, human resource rationalization and transformation, and customized training programs on leadership and marketing — are designed to help Philippine companies achieve the vital two-fold objectives of building the business and the organization. — Pauline Fermin, president and CEO, Acumen Strategy Consultants (acumen.com.ph)

 

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Promising innovations for a net-zero world

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Sustainability is no longer a choice. It is a driving need for all businesses. Climate change is a challenge too vast for any single entity to tackle alone, and it demands cooperation and collaboration from all segments of society, across all sectors and industries. After all, there is no profit to be made on a ruined planet.

It is fortunate then that the private sector, with its enterprising minds and thirst for opportunity, is well-positioned to lead the charge. Necessity has always been the mother of invention, and there has never been a necessity greater than this.

At present, no single invention can be the sole harbinger of a net-zero future, where we remove, recapture, or repurpose more carbon from the atmosphere than we emit. But together, these innovations bring us closer to turning sustainability from an aspiration into a reality.

The following technologies are the most promising innovations that the world’s foremost visionaries have come up with.

Sail-Powered Shipping

The transportation and logistics industry is one of the biggest emitters of greenhouse gases, as the industry almost entirely depends on internal combustion engines powered by fossil fuels. According to the International Energy Agency, transport accounts for over a third of all carbon emissions from end-use sectors.

As such, it is also one of the industries that prove the most difficult to transition into a net-zero scenario. That requires transport sector emissions to fall by around a quarter in five years, no matter how much transport demand continues to grow.

With such a pressing future, some European and US companies in the shipping segment of the industry are finding inspiration by looking to the past — back to the age of sailing.

Shipping emits about a billion tons of carbon dioxide a year, accounting for 3% of global greenhouse gases. As the demand for transport continues to grow, emissions are projected to balloon up to 250% by 2050 if no action is taken.

Sail-powered cargo ships, which rely almost completely on wind power, can leave a sizable impact in the shipping industry’s carbon footprint without compromising speed or efficiency. Pure-sail vessels like the Grain de Sail II, for instance, are able to hold 350 tons of goods and can cross the Atlantic in a little over two weeks.

According to Clarksons Research, which tracks shipping data, wind-assisted vessel numbers are growing at unprecedented rates, even as they collectively comprise a tiny fraction of the global fleet. By its count, 165 cargo ships are already using wind to some degree or are due to have wind-assisted systems installed.

Hempcrete

In terms of carbon footprint, the buildings and construction sector is by far the largest, accounting for a staggering 37% of global emissions according to the United Nations Environment Programme. Decarbonizing building materials like cement, steel, and aluminum is one of the most urgent challenges we face today, as their design, production, and deployment contribute immensely to climate change.

Hempcrete, meanwhile, is carbon negative. The hemp it is made out of is easily renewable, taking only 100 days to grow, while it also provides regenerative benefits for soil. Most importantly, it can be used in a range of industries, from building to textiles, as it is purported to have insulation, moisture- and fire-proof qualities.

In the United Kingdom, Public Realm Lab’s Powerhouse Place recently won the National Award for Sustainable Architecture, bringing hempcrete into the spotlight. Meanwhile, in Australia, public buildings are being made with the material like in the University of Tasmania’s forestry building and the Lithgow Women’s Shed, while entities like the Australian Hemp Masonry Company are promoting its use to architects and builders.

Green Hydrogen

Breakthroughs in renewable energy continue to flourish. In the European Union, the REPowerEU Strategy of 2022 aims to produce and import 10 million tons of green or renewable hydrogen by 2030 — with a long-term target of covering about 10% of the region’s energy needs by 2050 and significantly decarbonizing energy-intensive industrial processes and the transport sector.

Renewable hydrogen is a ‘renewable fuel of non-biological origin’ (RFNBO), produced through the process of electrolysis, using renewable electricity to split water into hydrogen and oxygen.

The EU is exploring its potential at decarbonizing sectors where other renewable alternatives might be unfeasible or more expensive. Additionally, it can be used to produce new industrial products, such as green fertilizers and steel.

Of course, a sustainable future won’t be built on one of these breakthroughs alone, or even all these three. A net-zero future demands a collective, global push for innovation. The road is long, and the stakes could not be higher, but with each step forward, each new discovery, we get a little bit closer. — Bjorn Biel M. Beltran

More possibilities for PHL automotive industry in 2025

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As the economy grows and the middle class rises, the Filipino’s deep appreciation for cars is growing ever more evident due to the increase in the number of sales and the amount of new car models released in the country yearly. Whether it’s for young entrepreneurs looking for a truck to help grow their business or a father seeking a sedan where they can drive their kids to school with, in the Philippines, there’s a car for every Filipino.

The Philippine automotive industry has been one of the key drivers of the national economy for several decades now and figures to be a cornerstone sector, at least, in 2025. Due to strong consumer demand, increasing purchasing power, and continuous investments from global and local manufacturers, the outlook on the industry remains bullish and optimistic.

According to data website Statista, “wholesale and retail trade; repair of motor vehicles and motorcycles” sector in the country contributed around 18.6% to the gross domestic product in 2023. This number touts the automotive industry as the economy’s biggest contributor beating out the manufacturing and services industries.

Based on a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA), the industry had a record-breaking year in 2024 with 467,252 units sold, up by 8.7% from the 429,807 units sold in 2023 which held the previous peak.

This year, CAMPI and TMA are projecting sales to grow even further. With election-related spending triggering incremental economic demand added to the continuous government infrastructure spending, vehicle sales in the country are forecasted to expand to 512,000 units sold — an 8% increase from last year.

“As the Philippine auto market continues to expand, I am very much encouraged by the added possibilities this growth brings with it. The auto industry is truly transforming into a major pillar of economic development,” Toyota Motors Philippines Chairman Alfred V. Ty was quoted as saying in a recent BusinessWorld report.

On the manufacturing side, latest data from the ASEAN Automotive Federation (AAF), a coalition of industry organizations representing member economies within the regional bloc, show that the Philippines posted the highest growth rate in vehicle production in November last year compared with five other of its peers in the Association of Southeast Asian Nations.

According to the AAF, the country produced 10,554 units of vehicles in November 2024, a 27.1% growth compared to the 8,303 vehicle units manufactured during the same month in 2023. Despite this growth, the Philippines was still only fifth in terms of the volume of vehicle output among the ASEAN countries behind Thailand, which built 122,277 units; Indonesia with 101,688; 55,383 for Malaysia, and Vietnam with 16,251 units.

Due to the potential of the country in manufacturing automobiles, legislators and car manufacturers are pushing for more incentives to support other car makers not currently enrolled in the Comprehensive Automotive Resurgence Strategy (CARS) program, which was extended by President Ferdinand R. Marcos, Jr. in 2023.

Established under Executive Order No. 182 in 2015, the CARS program grants participating car manufacturers six years to meet the required sales target of 200,000 locally produced units per enrolled model to qualify for incentives. These benefits include fiscal support through a non-transferable tax payment certificate, which can be used to defray the tax and duty obligations of the participants to the government.

“Imagine how much more the industry can contribute if we have a larger production base. My vision for the automotive industry is to truly become an engine of growth by increasing its value output, employment, and labor productivity,” Cagayan De Oro 2nd District Rep. Rufus B. Rodriguez said in another BusinessWorld report.

Mitsubishi Motors Philippines Corp. (MMPC) First Vice-President for Corporate Division Imelda M. Abadilla-Brown echoed the same sentiments in 2023, saying that support from the government will help sustain gains under the program.

“The CARS program is something that the industry needs. It is a very good program. It’s very beneficial to the society. It generates jobs. We preserve jobs. We want to continue producing the Mirage,” she said.

In 2025, the Philippines is set to take even bigger steps in establishing itself as a key player in automotive manufacturing in the region. With the government granting more fiscal incentives and with local manufacturers boosting their production capabilities, the country’s automotive manufacturers has the potential to create more jobs, fuel economic growth, and spark innovation.

As the country’s industry shows promising growth, there is increasing optimism that global automakers will take notice of the Philippines’ potential. Mr. Marcos has expressed his hope that one day, American electric vehicle giant Tesla will consider building cars in the Philippines, during his speech at the brand’s launch of Tesla Center Philippines in Uptown Bonifacio in Taguig City last month.

“Every hire represents an investment in the Filipino talent that will drive this transition forward. With plans to expand further, Tesla is building a generation of Filipinos equipped to lead in the global shift towards sustainable technologies such as this. It is our fervent hope that Tesla might one day choose to manufacture its vehicles in the Philippines,” he said.

Moreover, Mr. Marcos reaffirmed his commitment to promoting sustainable transportation systems, stressing that electric vehicles represent the future. He highlighted the significant role Tesla could play in the Philippines’ efforts to combat climate change, even though Tesla cars and other electric vehicles are often regarded as “premium” options.

“While it is true that electric vehicles are currently seen as premium products, Tesla’s entry into the Philippine [market] signals much more than high-tech cars on the road. It is a step — a very significant step forward to our long-term transformation towards a more environment-friendly transportation system,” he said.

As 2025 unfolds, the Philippine automotive industry stands poised for solid year all around from manufacturing, government support, and sales. With optimism at an all-time high, it’s clear that the Philippines is driving toward a future where its automotive industry will play a leading role in both the regional and global markets. — Jomarc Angelo M. Corpuz

The Philippines’ push for electric mobility

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Sales of electric vehicles (EVs) in the Philippines are expected to rise by 7% in 2025, with annual purchases projected to reach 20,000 units for the first time.

Rommel R. Gutierrez, president of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), said EVs will likely account for 4% of the estimated 500,000 vehicle purchases this year.

In January alone, 1,600 EVs were sold, making up 5.36% of total car sales. Hybrid electric vehicles (HEVs) has 1,445 units sold, followed by battery electric vehicles (BEVs) with 146 and plug-in hybrid electric vehicles (PHEVs) with nine.

Last year, EV sales in the country hit 18,690 units. CAMPI data show sales climbed from 187 units in 2019 to 344 in 2020 and 810 in 2021.

At a public forum in November, Energy Undersecretary Rowena Cristina L. Guevara said the country’s EV market is gaining steady momentum. “If you compare EV sales from last year to this year, I think they either doubled or tripled. Growth was slow, but it’s getting there,” she said.

In 2018, a market study by Frost and Sullivan revealed that 46% of Filipino consumers were open to purchasing an EV, which is considered as one of the highest rates in Southeast Asia.

Toyota Motor Philippines remains the market leader, holding more than 72% of the EV sector as of the third quarter of 2024. The company’s HEV sales surged 186% year over year. Toyota introduced the Prius to the Philippines in 2009, becoming a pioneer in hybrid vehicle offerings.

Government efforts and industry initiatives

The Electric Vehicle Industry Development Act (EVIDA), signed into law in 2022, requires corporations to include EVs in their fleets and provides various incentives for consumers.

The EVIDA aims to help the country meet its Nationally Determined Contributions (NDCs) by reducing greenhouse gas emissions by 75% by 2030. The government seeks to cut the transportation sector’s significant share of air pollution and carbon emissions by promoting EV adoption and expanding charging infrastructure.

The transportation sector accounts for 56% of outdoor air pollution in Metro Manila. EVs help address this by eliminating tailpipe emissions and producing 54% fewer lifetime carbon emissions than traditional internal combustion engine (ICE) vehicles.

The Department of Energy (DoE) plans to accelerate the growth of electric mobility through its Comprehensive Roadmap for the Electric Vehicle Industry (CREVI). The roadmap targets a 50% EV fleet share by 2040, with an interim goal of 2.45 million EVs, including cars, motorcycles, tricycles, buses, and public utility vehicles, by 2028.

Among these, 415,000 HEVs, 69,000 PHEVs, and 69,000 BEVs are targeted.

Government policies have also supported the EV industry’s expansion, particularly the Executive Order No. 62, which took effect in July 2024, that grants zero tariffs on imports of BEVs, PHEVs, and HEVs until 2028.

PHL as EV manufacturer

Ma. Corazon H. Dichosa, executive director of the Board of Investments (BoI) Industry Development Services, said the Philippines could focus on commercial electric vehicle production as an entry point into the broader market through public utility vehicle (PUV) modernization.

“We still have not missed the boat of EV manufacturing since we are already on the boat,” said Ms. Dichosa. She noted that several electric PUV and three-wheeler assemblers operate in the Philippines, along with companies that manufacture battery packs and supply essential electronic components for EVs.

Ferdinand I. Raquelsantos, chairman emeritus of the Electric Vehicle Association of the Philippines (EVAP), said the country remains competitive in the EV industry despite lagging behind regional players.

“Although we have been overtaken by others, I still believe if we can develop local production of commercial vehicles, not only can we supply the Philippine market but also export because nobody is making commercial vehicles in ASEAN,” he said.

With most EV manufacturers focused on passenger cars, the Philippines has an opportunity to serve an underserved market by producing Asian utility vehicles, including delivery vans and public transport vehicles. This strategy could establish the country as a leading EV commercial vehicle producer in the region.

Meanwhile, EVs in general provide a lower total cost of ownership. Maintenance expenses for EVs are approximately 50% lower than those for gasoline-powered cars. Since the country imports over 90% of its oil, reducing fuel dependency through EV adoption enhances energy security and improves the national trade balance.

Investing in electric mobility

The scarcity of charging stations remains one of the biggest barriers to electric vehicle adoption in the Philippines. The country currently has only 592 charging stations — far from what is needed for mass adoption.

The Asian Development Bank (ADB) signed a $100-million financing package with Ayala Corp. to develop electric vehicle charging stations and procure EVs for commercial distribution.

The Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA) will also contribute to the investment, supporting sustainable transport initiatives across the region.

“This project is a significant step towards a sustainable and low-carbon future for the Philippines,” said Pavit Ramachandran, ADB’s Country Director for the Philippines. “By fostering a robust electric mobility ecosystem, we are addressing critical environmental challenges such as air pollution, while also driving economic growth through green jobs and enhancing energy security.”

While challenges such as high initial costs and limited charging infrastructure persist, industry leaders remain optimistic by ramping up efforts to expand the country’s EV ecosystem. — Mhicole A. Moral

Telecommunications as drivers of digital transformation

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By Bjorn Biel M. Beltran, Special Features and Content Assistant Editor

It is easy to take for granted just how much and how drastically technology, or specifically telecommunications technology, has changed the world we live in. Just over 20 years ago, cellphones were primarily used only for calling and texting, and barely anyone has a decent internet connection.

The World Economic Forum estimates that while less than 7% of the world was online in 2000, today over half the global population has access to the internet. Meanwhile, at the start of the 2000s, there were 740 million cellphone subscriptions worldwide. Fast-forward to today, and there are now more cellphones in the world than people.

In the Philippines, that is even more evident. In the early 2000s, internet connections were hardly able to sustain video streaming. Today, one can encounter people playing mobile games — a market that is projected to reach just under $4 billion in Southeast Asia this year — on the commute to work. As another example, in 2005, Facebook had not even existed.

As of the DataReportal Digital 2025 report published just this week, there were a recorded 97.5 million individuals using the internet in the Philippines at the start of 2025, meaning that online penetration stands at 83.8%. There were also a recorded 90.8 million social media user identities in January 2025, roughly 78% of the total population.

Eastern Communications Co-Coordinator Atty. Aileen Regio said that as a head of a storied 145-year-old telecommunications company, she is well aware of how digital transformation has changed people’s lives.

“It has been integral to our evolution and longevity,” she said. “Rather than simply adopting new technologies, we continuously redefine how we deliver connectivity, efficiency, and innovation, integrating technology to ultimately enhance the human aspect of work.”

“It’s about achieving the ease of everyday life, the promise of new opportunities, and being able to secure and future-proof operations, which we confidently offer to our customers. Digital transformation for Eastern cuts across business industries and sizes and applies to everyone. We see it in how the government is automating its processes, in remote learning for education to be accessible to more Filipinos, and in business collaborating with local and global partners. I believe that telcos play a role in each of these scenarios and more,” she added.

Digital telecommunications are enabling countless improvements to people’s lives. As of the latest government data, the digital economy in 2023 amounted to about $35.4 billion, contributing 8.4% to the country’s GDP. Digital-enabling infrastructure is seen as the biggest contributor of the growth of this virtual economy, accounting for around $28 billion or 77.2% of the total.

Mapping future growth

Onur Binay / Unsplash

It is exciting to imagine, then, how much more potential the country can unlock through the digital world. As emerging technologies continue to reshape the global landscape, it is safe to assume that they too will enable new avenues of growth for the Philippines.

“For us, the future of the telecommunications industry is being shaped by several key advancements. These include cloud computing, IoT (internet of things), integrated cybersecurity solutions for end-to-end protection, and the increasing demand for seamless, high-speed connectivity. As businesses become more digitally driven, reliable and intelligent solutions will be key to their growth and success,” Jaeson Evangelista, Co-Coordinator at Eastern Communications, said.

“At Eastern, we are open to embracing new technology, evolving from a traditional telco provider into a full-scale managed ICT services partner. We continuously explore new ways to support businesses in their digital transformation, ensuring they have the technology and connectivity needed to thrive.”

According to the e-Conomy SEA 2023 report, jointly produced by Google, Temasek, and Bain & Company, the digital economy in the Philippines is projected to reach $150 billion in gross merchandise value by 2030. This growth will be mainly driven by the e-commerce sector, which includes online media, travel, transport, and food delivery services.

Even technologies like virtual reality (VR) and augmented reality (AR) are creating new opportunities. “With regard to immersive experiences like VR and AR, the country is steadily moving toward readiness. While adoption is still in its early stages, industries such as retail, education, healthcare, and entertainment are beginning to unlock their potential,” Mr. Evangelista said.

“With sustained investments in connectivity and more resilient digital infrastructure to support future applications, the country is steadily moving toward a future where immersive technologies can be fully realized and integrated into everyday business operations.”

However, certain measures have to be taken to ensure the growth of the digital economy is secure and inclusive. Last year, President Ferdinand R. Marcos, Jr. issued Executive Order (EO) No. 58, officially adopting the National Cybersecurity Plan (NCSP) 2023-2028, developed by the Department of Information and Communications Technology (DICT). Under this, the government aims to a create a clear policy direction and operational framework, ensuring an integrated, whole-of-nation approach to securing the country’s digital infrastructure.

The initiative also includes working with the private sector to provide technical assistance to various government agencies to enhance cybersecurity measures across the country.

“As technology keeps evolving, cyberthreats are also becoming more advanced. By integrating advanced cybersecurity tools into our connectivity and ICT solutions, we provide businesses with a stronger, more resilient defense, ensuring safer and more secure operations,” Mr. Evangelista said, adding that they are also looking to expand their reach to more people in remote provinces.

“Expanding digital infrastructure in provincial areas comes with several challenges, including geographical constraints and the need for strong, sustainable technology. As we steadily grow and improve our network, we are prioritizing investments in high-tech, durable, and sustainable infrastructure to ensure long-term reliability and resilience.”

“By continuously enhancing our network, expanding our portfolio of intelligent solutions, and delivering a best-in-class customer experience, we ensure that businesses have the tools they need to thrive in a rapidly evolving digital landscape,” Ms. Regio said.

“Staying competitive also means learning from the past, anticipating industry shifts, and remaining agile in the face of change, which is why moving forward, we are committed to exceeding customer expectations in each touchpoint.”

Telco’s role in navigating digital challenges

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Digital connectivity has made the world more interconnected than before, and it has also further enabled individuals to learn, work, and thrive. Such connectivity is backed by the telecommunication industry, which holds the digital world together through the various services of providers.

This advancement in connectivity, however, brings along certain risks, which every telecommunication provider must be prepared to recognize and address.

Privacy and security

As data flows at a rapid pace, digital threat is constantly adjusting to technological advancements. As teleco companies collect and store increasing amounts of data, they encounter greater risks of data privacy and security.

However, tools like artificial intelligence (AI) and generative AI are seen to carry the potential to advance operational efficiencies and service offerings. And while potentials of AI are frequently discussed, it is essential to also focus on the potential disruptions it has on individuals, businesses, and various sectors.

To keep pace, telcos are strengthening cybersecurity measures within their operations. This entails establishing effective security measures with multi-layered defense strategy adhering to regulatory standards.

Skill gap and mismatch

The move towards digital transformation necessitates a workforce equipped with digital skills, such as cloud computing, cybersecurity, and data analytics. However, finding and retaining the right talent is a challenge that must be addressed. For telco companies, having skilled workers and professionals is essential for managing complex networks and developing new services.

According to an Ernst & Young (EY) study, factors that hinder organization transformation include poor internal collaboration and skills gap. EY also found that 85% of telco employees believe that human resources functions will need to adapt significantly, highlighting the need for transformation in talent management.

In response to the skill gap and mismatch, telco companies are revolving their employee proposition. Focusing on attracting younger talent with digital and software capabilities will help the sector establish a more robust and sustainable workforce.

Notably, EY also revealed that 73% of telco leaders are prioritizing talent attraction and retention within their people strategy. It also indicated a strong focus on reskilling (50%) and fostering collaboration (42%), which senior executives identifies as key priorities.

Network infrastructure and reliability

One crucial element in digital transformation is its ability to modernize infrastructure. This involves upgrading network equipment, servers, and other hardware to better manage data volumes and improve connectivity. A modern infrastructure is crucial for telco network transformation as it enables faster and reliable service delivery.

But even with persistent efforts to advance infrastructure, unreliable network services still loom in. For instance, according to EY, 25% of households globally continue to struggle with unreliable fixed broadband connectivity, with no year-on-year progress. Mobile data reliability is also declining, and the growing use of AI could be leading to increased uplink traffic, which adds more strain on network capacity.

A strong network design is important for stronger infrastructure and network reliability. To develop a more resilient infrastructure, several interventions are considered, such as assessing the current telco network’s ability; identifying risks, resiliency measures, and cost-saving opportunities; enhancing the network’s capacity; and developing backup and recovery plans.

Digital divide

According to CDO Trends, there are still about 2.6 billion people without access to internet connectivity and digital devices. In developed countries, only 27% are considered internet users, and as advanced mobile network technology continues to evolve, this digital divide is growing even wider.

Hence, telco companies are finding innovative ways to offer accessible and date-driven services, reaching underserved users and communities. They are leveraging cloud technology to open up new revenue possibilities and encourage partnership across industries. With seamless and integrated offerings, telcos can grant access to digital platforms, particularly in areas that lack digital resources; promote digital user adoption; expand their market reach; and champion digital inclusion. — Angela Kiara S. Brillantes

Expanding retail’s footprint on malls

freepik / macrovector

By Jomarc Angelo M. Corpuz, Special Features and Content Writer

As a consumption-driven economy, retail has always been a thriving industry in the Philippines. According to data from the Philippine Retailers Association (PRA), the industry generated approximately P4.7 trillion in revenue for 2024 alone. This year, the PRA forecasts that number to grow by up to 15% or nearly P5.4 trillion driven by healthy remittances and a growing population.

Despite this growth, there are several roadblocks that could hinder the retail sector’s expansion. Chief among these are the perceived rise in the price of goods, the rise in vacancies in retail spaces, and strong competition from e-commerce.

While the country’s inflation rate did decelerate to 3.2% in 2024, it followed two years of elevated inflation, with rates reaching 5.98% in 2023 and 5.82% in 2022. The lingering effects of past inflationary spikes may have influenced consumers to become more price-conscious, prioritize essential goods, and seek greater value in their purchases.

Vacancies in the retail property segment have also been rising ever since closures from the pandemic. A Colliers report in the first quarter of 2024 noted that the vacancy rate in retail spaces was 15.5%, which is projected to increase to about 17% by the end of last year. This rising vacancy rate highlights the challenges faced by mall operators and retailers in attracting tenants and sustaining foot traffic.

With e-commerce gaining a major foothold among Filipino consumers, brick-and-mortar retailers have faced mounting pressure to stay relevant. Data from the PRA shows that e-commerce made up just 3%-5% of total retail sales pre-pandemic. By 2023, this share had surged to 20%-25%. This shift has forced traditional retailers to rethink strategies, with many struggling to compete against the convenience, variety, and competitive pricing of online platforms.

Facing these challenges, malls remain a key area in retail expansion, offering strategic spaces for brands to grow their footprint. Several strategies can be implemented by developers and retailers to attract more customers, bring people back to malls, and maintain relevance in an increasingly digital world.

One of the ways malls can help retail expand their footprint is by choosing the right tenants for their retail spaces. Several factors are usually taken into account when planning which brands these shopping centers should rent to — what customers want, what’s new in the industry, and what’s missing in the mall.

Rockwell Land Corp. Senior Leasing Manager Maiki Banzon revealed in an email interview that Rockwell does a lot of careful thought and planning into choosing what concepts to bring into their malls and that their main consideration is what they feel their customers would want to see in their shopping centers.

“We think of concepts that will delight our customers. We also keep an eye out for new and exciting international and local brands. We like to be able to bring in new brands or firsts in the country. We also consistently review our existing stores to see if there are any gaps in our offerings,” she explained.

Other than having the right mix of tenants, leveraging technology is another method to enhance the retail experience, attract more individuals, and make shopping more seamless, engaging, and rewarding for customers.

Rockwell Land Marketing Manager Elise Lim noted how technology has dramatically transformed the Rockwell retail experience in the last three years. The high-end shopping center developer has implemented various innovations from using QR codes as a means to enable its customers to shop and dine safely; to a comprehensive digital ecosystem that now houses a hybrid e-commerce platform with a physical pop-up store; a restaurant reservation system; digital parking payment methods; and the country’s first mall-wide artificial intelligence-powered rewards program.

“The Rockwellist mobile app has ultimately become a way for us to connect with the Rockwell community more meaningfully — making every visit to Power Plant Mall much more convenient, rewarding, and exciting. Aside from us being able to nurture relationships at scale, technology allows us to continue to do so with a personal Rockwell touch,” she said.

Making malls sustainable

Sustainability has also been a factor in attracting modern consumers, who are increasingly drawn to eco-friendly practices, energy-efficient spaces, and brands that prioritize environmental responsibility. Jovan Barrago, senior operations manager of Rockwell Land, shared that the mall chain’s sustainability initiatives revolve around energy, water, waste, architecture and landscaping, and people.

For energy, all of Rockwell’s retail locations use renewable energy through renewable energy services (RES) and the Green Energy Option Program (GEOP), using electricity from green energy sources such as geothermal power plants. This initiative reduces the mall chain’s greenhouse gas emissions by 80%.

Rockwell malls feature 100% LED lighting with automatic on/off controls, upgraded Chilled Water and Exhaust Motor Systems for reduced energy consumption, and installed direct current (DC) fast EV chargers to support sustainable transportation. These innovations led to Power Plant Mall winning second place in Best Greenhouse Gas Emissions among Makati malls from the Makati City Government last year.

Saving water is also an emphasis of the retail mall developer. Rockwell malls use low-flow fixtures, such as toilets and faucets, reducing water consumption by 60%-80% compared to traditional fixtures. Additionally, rainwater harvesting is implemented at Arton Strip, while water recycling is available at Santolan Town Plaza and will soon be introduced at Power Plant Mall.

Meanwhile, the company’s shopping centers prioritize waste management through a comprehensive segregation system. Food waste is converted into frass (compost) and donated to the Department of Environment and Natural Resources, while used cooking oil from food & beverage stores, and machinery oil are processed into bunker oil for reuse in the cement industry, promoting sustainability and responsible waste disposal.

Mr. Barrago also stressed the importance of integrating sustainable architecture and landscaping by utilizing natural lighting through glass roofs and skylights at Power Plant Mall. Green walls with plant vines along perimeter walls help regulate temperature, reducing cooling energy and greenhouse gas emissions.

With a focus on sustainability and well-being, Rockwell malls provide bicycle racks to encourage eco-friendly commuting. The company actively participates in Earth Hour to promote environmental awareness, and it also collaborates with local government units to conduct waste management seminars for retail tenants, fostering a culture of sustainability.

As malls continue to adapt to new challenges, they remain at the heart of the Philippine retail industry. Through different strategies that emphasize innovation and sustainability, these shopping centers reinforce their role as vibrant community hubs that drive economic growth helping the future of retail in the Philippines to thrive.

The Philippines as a rising star in Southeast Asia retail

Unsplash / Alexander Faé

The Philippines is turning heads on the global stage. With the country set to achieve upper-middle income status this year, more foreign investors are checking the potential opportunities the Philippines provides. More brands are coming in, and they are bringing even more fuel to power the country’s economic engine.

According to global professional services firm Colliers in its 2025 Philippine Property Market Outlook Report, foreign retailers were finding the country more attractive for investments.

“The Philippine economy is primarily consumption-driven, and this entices foreign retailers to invest in the country,” Colliers said. “Foreign players are now more aggressive in taking up physical mall space.”

In April last year, Japanese furniture and home accessories giant Nitori launched its first store in the Philippines at Mitsukoshi in Bonifacio Global City, with a pledge to have as many as 65 Philippine stores by 2035.

Nitori is the largest furniture and home furnishing chain in Japan, with 810 stores in its home country and 173 stores in other regions around the world. In 2023, there were 340 million customers who visited the Nitori stores, making it one of the biggest home-furnishing brands in Asia.

Meanwhile, Australian home and lifestyle retailer Kmart chose the Philippines as the location for its first foray into Southeast Asia. Rebranding itself as Anko, the store opened its doors at Glorietta 2 in Makati last November. Anko offers a variety of similar products to its Australian counterpart, including homewares, storage solutions, bedding, children’s toys, beauty products, fitness gear, and pet essentials.

Outside of malls, DALI Everyday Grocery, a Swiss international retail chain, entered the market in 2022, and has since rapidly expanded to over 630 stores in Luzon as of last year. It aims to reach 950.

DALI claims to be building the first neighborhood “Hard Discounter,” aiming to become the price leader of the Philippines, selling food & non-food products for daily use at the lowest possible price possible.

Colliers Research Director Joey Bondoc further explained to the press that food and beverage (F&B) retailers were also “taking advantage of Filipinos’ affinity for food and our economy being led by personal consumption,” adding that he expects to see foreign F&B brands take up less than a third (31%) of the total space to be occupied by F&B retailers in Metro Manila in the next 12 months.

The most recent notable entry in the Philippine market is Indonesian coffee chain Kopi Kenangan, which has furthered its international expansion strategy with the first of 10 planned stores in the country.

Partnering with Filipino franchise group Fredley Group of Companies — which manages brands like Macao Imperial Tea, Nabe, and New York Fries and Dip — Kopi Kenangan launched as Kenangan Coffee at Manila’s SM Mall of Asia in November.

Founded in 2017, Kopi Kenangan is one of the largest branded coffee chains in Indonesia with over 900 outlets across 60 cities. The Jakarta-based coffee chain now has a presence across four Southeast Asia markets after debuting in Malaysia in October 2022 and Singapore in September 2023. It currently operates 71 in Malaysia and seven in Singapore.

Colliers’ Mr. Bondoc expects vacancy rate in the retail property space to slightly shrink to 15% this year as a result of the increased attention that the Philippines is garnering from abroad. “It is obvious that foreign retailers are taking advantage of our young and millennial workforce that propel spending across the country,” he said.

He noted that this is amid an initiative by many property developers that redesigned their existing retail spaces to introduce new concepts and become “more experiential [and] less transactional.”

This will allow retail developers to take advantage of the high demand for “more immersive experiences” inside malls, expanding their food halls, upgrading cinemas, and putting up pop-up stores to gauge market sentiment.

“This segment is making a comeback after being disrupted heavily by the pandemic due to physical distancing,” he said. — Bjorn Biel M. Beltran

Keeping up with top shopping trends

Freepik / pch.vector

As new styles and innovations keep emerging, retailers are constantly seeking for ways to keep the shopping experience fresh and more engaging. The following trends in shopping are guiding malls and retail spaces to seamlessly connect with shoppers and set modern shopping to higher standards.

Omnichannel shopping

From merely physical spaces, shopping is now being redefined to a combination of in-store and online shopping. According to audience research company GWI, 59% of people prefer online shopping, while 41% are still shopping in physical stores globally. Interestingly, in the Philippines, a unique shopping trend has emerged, with many embracing omnichannel shopping.

At a Retail Asia Forum 2024, Jerome Andrew Garcia, Principal of Advisory Services at KPMG in the Philippines, emphasized that 61% of Filipino consumers prefer the omnichannel approach, while 22% prefer physical stores, and 17% with online.

This trend allows shoppers to seamlessly blend their shopping habits, for example, browsing items online or checking local store inventories, depending on what is most convenient for them. Ultimately, the goal is to create a shopping experience that is both seamless and personalized, empowering consumers to make shopping choices that align with their lifestyles.

“People browse online before they come to the store,” Rosemarie Bosch Ong, Wilcon Depot, Inc.’s senior executive vice-president and chief operating officer, said in the same forum. “We’ve learned that people browsing before coming to the store greatly enhances the chance they’ll buy something in-store.”

Adding to this, the omnichannel approach has equipped retailers to track and analyze trends and data insights in real-time, enabling them to cater to consumer preferences more efficiently, as Jayan Dy of SM Retail said.

“A specific example is when we noticed an increase in demand for cranberry bread in a particular urban area. Upon checking, even offline sales matched that trend,” he said.

Personalization

Moreover, in modern shopping, personalized shopping drives tangible results, enabling brands to serve customers more effectively. Recently, brands and retailers have been leveraging artificial intelligence (AI) technology to create more customized shopping experiences, using data analytics and behavior insights to better cater to consumer preferences. With AI on board, shopping has reached an entirely new level of personalization.

Recognizing AI’s potential, GWI indicated that 56% of Gen Z are optimistic about AI’s impact on society. On another note, a recent study by McKinsey & Company revealed 71% of consumers expect businesses to provide personalized interactions, while 76% feel frustrated when they don’t get such kind of interaction.

AI fundamentally enhances personalization in retail, offering benefits such as more efficient customer engagement, creative and tailored content, refined marketing strategies, and customizing of promotions and product recommendations across e-commerce platforms and other marketing channels.

“Many retailers view AI and GenAI (generative AI) as a way to reverse the downward trends and accelerate growth,” McKinsey explained in a report. “An increasing number are starting to experiment with AI to improve mass promotions. But companies can be more strategic by employing AI for targeted promotions, using data to tailor discounts based on people’s shopping preferences or their affinity for different types of offers. With a more granular approach to customer segmentation, retailers can craft promotions that target specific customer life cycle stages (such as new-customer acquisition, customer retention, repeat purchase, or risk of churn) or specific business objectives (such as promoting a particular brand or category or encouraging cross-selling).”

Experiential retail

Another rising trend in shopping is experiential retail, where shopping destinations are transformed into immersive environments, where entertainment, interaction, and the community come together as one. Experiential retail can thus be another means of creating meaningful connections with today’s shoppers and attracting them to physical stores.

By embracing this trend, retailers can enhance brand strategies and unlock numerous benefits. This involves designing immersive store environments that highlight the brand identity and invite shoppers to interact with their products. Another way is integrating technology, such as augmented reality (AR), virtual reality (VR), and mobile apps that can provide fun and engaging experiences that go way beyond simple browsing.

In experiential retail, retailers can transform their stores from mere points of sales into dynamic destinations that captivate today’s experience-driven consumers. Brands that go the extra mile to create unique shopping experiences can cultivate deeper customer connections and strengthen their brand reputation.

For instance, Ayala Malls has been redeveloping its four iconic malls — Glorietta, Greenbelt, TriNoma, and Ayala Center Cebu 3 — since last year, to create immersive shopping experiences that fuses shopping, entertainment, and technology. This redevelopment focuses on providing the best dining, entertainment, and leisure experiences for shoppers. For Ayala Malls, this initiative is crucial as it strives to meet the new tastes of the generation, enhance customer engagement with advanced technology, and set new standards in retail landmarks.

“With this transformative era, Ayala Malls firms up its dedication to creating dynamic, innovative, sustainable, and memorable malls that serve, empower, and celebrate the local communities the malls are embedded in. Ayala Malls moves towards the future with a strong vision to be the mall of choice — the mall that customers keep coming back to, the third space that customers love,” the company said on its website.

Going sustainable

More than an accessory, sustainability has also become one of retail’s latest components in response to an apparent consumer shift for sustainable products. GWI’s report noted that 58% of consumers are willing to pay more for eco-friendly products.

2025 marks a transformative period for retail, where integrating sustainability into modern shopping is reshaping the market. The benefits are clear: less environmental impact, attracting more environmentally conscious consumers, less material waste, and improved brand reputation. But more importantly, this trend highlights the growing importance of environmental responsibility in businesses, and how it is redefining the future of retail, creating a more responsible and resilient landscape.

Prominent shopping centers and retail brands in the country are championing sustainable shopping through various initiatives. For example, SM Supermalls allows shoppers to upgrade their digital devices into new ones at the Power Mac Center. For those looking to dispose of old or broken electronic devices responsibly, SM Cyberzone offers e-waste collection points. Brands like H&M and Uniqlo use recycled and sustainable sourced materials in their clothing lines. — Angela Kiara S. Brillantes

PLDT profit up 21.4% to P32.3B in 2024, eyes up to P73-B capex

BW FILE PHOTO

PANGILINAN-LED PLDT Inc. saw its attributable net income for 2024 climb by 21.4% to P32.31 billion, fueled by the company’s all-time-high service revenue growth. 

The company’s consolidated revenue for the period surged to P216.83 billion, marking a 2.8% increase from P210.95 billion in 2023, mainly driven by growth in its service revenues.

Broken down, PLDT’s service revenue increased by 3.2% to P208.38 billion from P201.83 billion in 2023, while its non-service revenues declined to P8.45 billion, down 7.3% from P9.12 billion in the comparable period a year ago.

The company’s service revenue growth was primarily driven by improvements in its data and broadband topline, which grew by 3% to P162.1 billion, PLDT Chief Financial Officer and Chief Management Officer Danny Y. Yu said in a briefing on Thursday. 

Its wireless segment recorded total revenue of P83.5 billion in 2024, reflecting a 2% year-on-year increase.

Telco core income, which excludes the impact of asset sales and losses from Maya Innovations Holdings, reached P35.14 billion, rising by 2.3% from P34.34 billion in 2023.

“Our 2024 results highlight PLDT’s resilience and the continued demand for reliable connectivity. But our intention is to use this as a benchmark for even better performance in the coming years,” said PLDT and Smart Chairman and Chief Executive Officer Manuel V. Pangilinan. 

For 2025, Mr. Pangilinan said the company is confident it can sustain its growth, noting that it would be in an “even better position” in terms of growth trajectory.

CAPEX GUIDANCE
This year, PLDT has set a capital expenditure (capex) guidance of between P68 billion and P73 billion to fund its network rollout, new cell sites, 5G network upgrades, and artificial intelligence initiatives. 

The company’s capex guidance for this year is significantly lower than its total capex spending in 2024, which stood at P78.2 billion.

Meanwhile, Maya, PLDT’s financial technology arm, achieved growth after recording 5.4 million bank customers, up 71% year-on-year.

Earlier, Mr. Pangilinan said the group was looking to increase its stake in Maya Bank, Inc. Maya is owned by Voyager Innovations, Inc., while PLDT is Voyager’s main shareholder. 

To recall, KKR tapped Goldman Sachs for the possible sale of its minority stake in Maya. KKR owns more than 20% of Maya.

“We know they (KKR) are trying to scan the market for the value of Maya, so you see Maya is just starting to turn the corner. We’d be keen to increase our stake for whatever might be available,” Mr. Pangilinan said.

Mr. Pangilinan said the company’s negotiations with European fund manager CVC Capital Partners for the sale of a minority stake in its data center business, ePLDT, Inc., have ended.

“We are in discussions at the moment with another potential foreign investor,” Mr. Pangilinan said, though he declined to identify the new investor.

Previously, the company had engaged Japan’s Nippon Telegraph and Telephone (NTT) for the potential sale of up to 49% of its data center business, but that deal was also eventually dropped. 

To date, PLDT, through its subsidiary ePLDT, Inc., operates 11 data centers, including the 50-megawatt hyperscale data center in Sta. Rosa, Laguna.

At the local bourse on Thursday, shares in the company fell by P12, or 0.86%, to close at P1,376 apiece.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

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