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Manila Bulletin devider Business devider The Stock Market devider SM Supermalls saw 27% growth in foot traffic

SM Supermalls saw 27% growth in foot traffic

Published Jul 24, 2024 05:01 am

SM Supermalls, the retail leasing unit of Sy-led SM Prime Holdings Inc., reported a 27 percent improvement in foot traffic to an average of above four million daily visitors in the first quarter of 2024 from 3.3 million in the same period last year. 

In a statement, SM Investments Corporation said this steady growth highlights SM’s commitment to enriching the mall experience with diverse and engaging activities that cater to evolving consumer preferences.

SM Supermalls Space & Time Cube.jpg
The Space & Time Cube+ at S Maison is the first-ever immersive art museum in the Philippines.

"The increase in foot traffic reflects our steadfast commitment to meeting the daily needs and wants of our customers. Our malls serve as dynamic hubs that blend modern retail services with vibrant entrepreneurial environments," said SM Supermalls President Steven T. Tan.

Through its integrated property developments, SM has transformed its malls into destinations offering immersive experiences tailored to every member of the Filipino family. 

Amid a shift towards discretionary spending, Filipino consumers increasingly visit malls for leisure and dining experiences. 

Food tenants now constitute 30 percent of mall spaces leased, up from 10 percent a decade ago, while non-food tenants including entertainment now occupy 50 percent. Other service-related tenants complement the diverse offerings. 

Recent innovations include the Space & Time Cube+ at S Maison, an immersive art museum featuring 20 themed attractions such as LED tunnels and holographic displays, exemplifying SM’s commitment to blending art with entertainment.  

SM Supermalls also provides a platform in support of fandoms, whether it is a K-pop group, anime, or other artists. SM supports these communities to be the go-to place for these celebrations of fan gatherings of all ages and backgrounds. 

One of the places fans can express themselves is the newly launched Cosplay City at SM City Fairview. It’s a hub for the community where they can be creative and be immersed in this multiple district spot filled with toy exhibits and anime themed zones wrapped with that Tokyo City vibe for Instagram-worthy posts.

Additionally, SM Mall of Asia’s flagship Game Park, launched in November 2023, offers a 1,947 square meter indoor entertainment complex with amenities like a bowling alley, basketball court, e-darts, and an indoor archery range, catering to diverse interests.

“SM continues to innovate and elevate customer experiences. Our goal is to create lasting memories through dynamic destinations that complement traditional shopping," Tan noted.

Related Tags

SM Prime Holdings Inc. Steven Tan SM Supermalls SM Investments Corporation
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