SM Markets, the SM Retail Group’s umbrella brand for SM Supermarket, SM Hypermarket and Savemore, is opening seven more stores before the end of the year.
In a statement, SM said these new stores will be in Air Residences Makati, DECA Marilao, Tanza, EB Town Center in San Jose Del Monte, Sorsogon, Tuguegarao and Taytay. As of October 2022, SM Markets has a total store count of 330.
“We are targeting to fill the need for better food shopping in developing communities. The rising incomes outside the National Capital Region is definitely a welcome factor in terms of growth in the provinces,” SM Supermarket President Jojo R. Tagbo said.
He added that, “We continue to expand and maintain our optimism on growth. Regardless of economic circumstances, our approach has always been to have a breadth of offerings that fits all wallet sizes.”
Consumer spending is also expected to get a boost from the holidays and ongoing face-to-face classes. Already, SM Markets has seen an improvement in sales for fresh products, snacks, beverages and other school-related commodities as of year to date.
“We are optimistic about the consistency of consumer spending. The return of face-to-face classes and the holiday season will push the business in the coming months,” Tagbo said.
SM Markets is enhancing its assortment to better serve customers’ evolving preferences to complement physical store expansion.
It continues to support MSMEs to boost the local economy by adding their products on the pasalubong (locally made) aisles on grocery shelves and prominently through its popular weekend markets to showcase their unique products.
SM Markets also expanded its imported offerings to include brands such as Coles from Australia, El Corte Ingles from Spain, adding to already existing brands, Iceland and Kirkland.
It introduced more options to the community to access essential products. It launched its online shopping platform accessible via shopsm.com/groceries, a natural complement to the business.