Angel Thoughts
The iconic SM founded by the late humble and very likeable Henry Sy Sr. is in its 65th year. It’s hard to imagine that what started as a modest shoe store in Carriedo street, Quiapo is now a supernova chain of malls and supermalls, even expanding into the business of building constructions around the country.
In my younger years, I first met SM, then a modest shoe store with lovely shoes, mostly made locally from Marikina. The ladies' shoes were casual, sporty, and elegant for evening wear. While out of our budget, one could save up for a holiday pair. Our casuals and party shoes had to be from SM.
To kick off the celebrations for SM’s 65th Anniversary, SM Supermalls’ Tenant-Partner Summit invited best-selling author and New Yorker columnist Malcolm Gladwell as the keynote speaker in an afternoon forum. Global Director of Wunderman Thompson Intelligence Emma Chiu was the other speaker for this auspicious and well-attended event.
The assembled crowd of business titans, noted entrepreneurs, and media heads were all enthralled by Gladwell as he continuously walked around the circular stage to ensure that everyone in the SMX Halls F2 to F4 would feel he was talking to all of them, and not just to one side of the room.
Touching on topics ranging from influencer Kai Sennet and his recent run-in with the law for creating a Union Square ruckus in Manhattan to the Taylor Swift phenomenon and how her fan base mirrors the diversity of the USA population, Gladwell would then segue to trying to discover what the young consumers of today want and clamor for. And how retail brands would have to understand and accept this if they wanted to create an impact.
Authenticity, inclusivity, and spontaneity were the three keys to a successful campaign or branding exercise for today’s youthful market. Gladwell invited us to observe along with him that the market of today isn’t governed by hierarchy as anyone over the age of 30 would understand. For those of a certain age, especially those born in the digital age, the ruling principle is no longer a hierarchy but a network.
Referring to his Outliers, Tipping Point, and David & Goliath books, Gladwell would create connections to Asia, in general, and with the Philippines in particular. While he confessed to now being very intrigued by the Asian mindset and perspective, he was quick to accept that he knew very little about Asia, and was looking forward to returning very soon.
Chiu spoke about retail trends and how post-pandemic, there was the need for retailers and brands to redefine their value proposition. This was in the interest of remaining relevant and being aware of how the market now thinks. With a flurry of examples in her slide presentation, Emma made a strong case for this revisionist philosophy, and how if we didn’t ride this trend of consumer behavior, we could find ourselves out of the loop, with relevance eroding.
Two of the major macro trends, Chiu presented were the joy-conomy and creative catalysts. These trends help define the retail experience we can offer to customers, taking into consideration surveys conducted that asked them what they were looking for post-pandemic.
SM Supermalls President Steven Tan welcomed the guests to the Summit and gave them a bird’s eye view of the exciting journey SM Supermalls is about to undertake, as it soars to new heights in the years to come. SM Prime Holdings, Inc. President Jeffrey Lim gave a warm “thank you” to the partners who attended the summit.
Guest speakers Gladwell and Chiu were truly the “icing on the cake” as the real cause for the celebration were the tenants and partners of SM Supermalls. They remained loyal during the health crisis, witnessed how SM Supermalls listened to them and found ways to help them survive that pandemic period. Happily, the sense of partnership is now stronger than ever.
Well, the pater familia of the Sy clan is gone but his legacy through the brand SM lives on!