Zambo needs more buyers market establishments PDF Print E-mail
Wednesday, 16 December 2015 11:31

Table Talk

BY Mike S Apostol

Before going deeper and serioously into this topic, Table Talk is happy to be back after almost two months away from the city, the center of activity in the region. Table Talk has seen and gathered new information, saw new developments and observed rural life and its changes for the better or for the worse. Peace and order situation for one has improved in some parts but gone bad in other parts. Complaints of rising incidents of agricultural losses, natural and man-made like stealing of agricultural products is not anymore rare. Probably it is caused by the growing number of poverty stricken families in the rural areas of the Peninsula that it is not anymore a monopoly of cities. Be that as it may, Table Talk is happy that we are back in good shape and armed with more information to share.

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The opening of the region’s biggest mall in the city, the Koronadal Commercial Complex (KCC), is a big boost to the city’ economic activity. The monstrous traffic it has caused that is felt even today is an evidence of economic growth for the city. The disadvantage it has brought to the inconvenience of the city’s residents will be a “far cry” to the city’s economic future on employment, business opportunities and revenue. KCC just “broke the ice” and opened the door for new commercial investment. In the coming days, more “chain establishments” will be coming to the city and that will spur economic activities providing a chain reaction of economics for the whole city, from employment to wages to the purchasing power of “class C” residents. It has been observed that majority of those KCC customers who witnessed the opening day, majority of them are from the “class C” category, perhaps, those who were there during the opening day were looking for “bargain sale” and their money’s worth to spend.

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Indeed, a close friend related that the grocery items and vegetable products sold at KCC are cheaper compared to other grocery stores or even at the public market. KCC is buyer’s market and its cheap prices are a challenge to other grocery stores to follow suit and be a “buyers market” or lagged behind and get busted, as the present economic situation, by force of circumstances, is driving people to get a bigger value of their hard earned income.

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When other establishments in the city will join the economic race, laid open by KCC, the city will economically benefit. City residents will have stronger buying power and more buying spree will follow, it will be an economic “win-win” situation for establishments and customers, nobody will lose. With cheaper selling prices, establishments will just have to lower their margin of profits while customers will have an expanded buying power. This will only happen if KCC’s cheaper prices now are not a bait and increase their selling prices when they have achieved economic stability and acceptance. KCC must sustain this present selling situation or drag down the whole city into economic woes, because it might propel unstable peace and order situation, a situation similar to oil producing countries. Their oil monopoly allows them to dictate their prices, like in a “sellers market”.

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Scoop: The city government must strictly adopt a commercial zone for big chain stores that will open up in the city. Foremost these malls must be outside of the city proper to disperse and unclog the downtown area. Growing cities like Cagayan de Oro have an economic zone going to their old airport and so with other cities of the country. Try to see them for yourself.