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CCCI works to rebuild consumer confidence

THE Cebu Chamber of Commerce and Industry (CCCI) works doubly hard to rebuild consumer confidence amid the economic slump due to the coronavirus disease 2019 (Covid-19) crisis.

Felix Taguiam, CCCI president, said while most businesses have resumed their operations, low consumer confidence and spending activity remain a challenge.

However, Taguiam expressed optimism about Cebu’s gradual business recovery while many establishments are still reeling from the economic slowdown.

“About 80 percent of our member businesses are already open. But the strong consumer confidence and spending are still not there,” he said.

The economic downturn, he said, is visible in the low foot traffic in malls and other commercial establishments these days compared to the  pre-pandemic level.

He cited retail trade and tourism as the industries heavily affected by the pandemic-induced business slowdown.

Inspite of this. Taguiam urged the business community to “move forward” and “reboot” and as much as possible to adapt to the changing times.

“There is no such thing as going back to the old norm already. We need to move forward. We need to restart. Businesses have to live with Covid-19 (coronavirus disease 2019),” he said. 

Covid caught all of us off guard. No business was ever prepared for this. We were all caught flat-footed.”

Moving forward, Taguiam underscored the need for businesses to “reboot and repurpose” their operations to survive these challenging times.

He noted the increased adoption of the business community here to the digital space as consumer trends shift to online platforms.

Such a trend, he added, is going to support the economic recovery of businesses here as they find ways to reach out to their markets in the pandemic era.