Romanian Retail Convention: A third of insolvent retail companies are, in fact, profitable ones

Cristina Blanaru Business, Events

Expo Media organized, on November 7th, the first edition of Romanian Retail Convention, a niche event that brought into the spotlight the latest trends in the sector.

One of the myths discussed during Retail Convention was “the highest operational costs cannot be avoided”, with speakers pointing out that a few modern solutions to reduce costs are automated management for meal tickets, automated buying process and good stocks management.

Dragos Chivu, Managing Director Printec Romania, said that over a third from the retail companies that enter insolvency are actually profitable ones and explained the importance of cash flow in the sector and the fact that many profitable companies could loose their creditors because of delays in feeding the accounts.

Bogdana Baltasiu, Business Development Director CuponReducere.ro, pointed out the fact that, at global level, over 45% consumers will choose brands for their quality, even if the price is higher. Moreover, 71% consumers want to simplify their lives, while 84% Romanian internet users living in urban areas prefer to buy online and think about buying other brands than the ones considered initially, after the online research process is over. Moreover, 88% Romanians would use digital coupons for shopping.

Horatiu Dimulescu, Online Content and Mobile Advertising  Manager Vodafone Romania, said that shopping is an impulse based action, reason why communication with the target must integrate naturally, through the appropriate channels and taking in consideration consumers’ habits. An efficient instrument in this direction is location based advertising, that increases direct marketing results and client’s loyality.

Approaching emotional intelligence in marketing, Teodora Migdalovici, Ambassador Cannes Lions in Romania, pointed out that future belongs to experiential brands and the fact that we’re assisting to a revolution of retail’s mentality, during which the store became the brand statement and industry itself migrates from competitive to collaborative.

Expo Media organized the first edition of  Romanian Retail Convention on November 7th, at JW Marriott Bucharest Grand Hotel, bringing together top representatives of the industry, together with pertinent solutions to optimize processes and make efficient long-term business strategies.

The speakers of the event were Camelia Popescu – Advertising & Communication Cora Romania, Catalin Vasile – Head of Retail Sales Management ING Bank, Dragos Chivu – Managing Director Printec Romania, Roxana Memetea – Managing Partner DDB Romania, Bogdana Baltasiu – Business Development Director CuponReducere.ro, Horatiu Dimulescu – Online Content and Mobile Advertising  Manager Vodafone Romania, Teodora Migdalovici – Ambassador Cannes Lions in Romania, Andreea Ionescu – Brand Maker Consult Ware.

The host of Romanian Retail Convention 2013 was Mircea Criveanu, Loyalty Director The Hub Partners.

The event benefited of support from partners like Printec Romania, Mystery Shopping Agency and Customer Service School, strategic support from Cannes Lions Romania and awards from Tea Forte.