SM Supermalls is transforming its approach to meet the changing desires of Filipino consumers. At a recent media briefing, Steven Tan, the chain's president, highlighted how 'malling' has evolved from merely shopping to seeking experiences.
A Shift Towards Experiential Offerings
'We are seeing that Filipinos care more about experiences than just buying things,' said Steven Tan, President of SM Supermalls.
- Over 40,000 runners participated in recent events like the Galaxy Manila Marathon.
- SM has introduced 102 pickleball courts across 32 malls nationwide.
To reflect this shift, SM Supermalls is emphasizing wellness and social activities. Tan noted that participation in active lifestyle events is growing, indicating a broader cultural trend.
The arts have also been a longstanding focus for SM. The chain has expanded its cultural offerings, including the Museo del Galeon and various interactive art initiatives.
Recent milestones for SM include the opening of the SM Seaside Cebu Arena, which boasts 25,000 seats and aims to host major events in the Visayas. Additionally, the opening of a new mall in Zamboanga City strengthens their presence in Mindanao.
Looking ahead, SM Nuvali is set to launch a unique LED cinema experience by November. This is part of SM's strategy to cater to consumer demands, with a reported 4% growth in tenant numbers this year.
Hanna Carinna Sy, senior assistant vice president for marketing and leasing, noted the growing interest in food and lifestyle concepts, driving a need for a diverse mix of offerings.
SM is also committed to community support, partnering with nearly 900 small businesses and hosting trade fairs for thousands of entrepreneurs. Their environmental initiatives focus on sustainability, including plastic collection and solar power integration.
'We want to grow, but we want to grow responsibly,' Tan emphasized, underlining the chain's commitment to community engagement and sustainable development.