A recent report from equity research firm CLSA highlighted SMIC’s retail segment as a key beneficiary of rising minimum wages, steady remittances, and resilient household spending. Despite economic uncertainties, essentials remain a priority for Filipino consumers.
“The Philippine economy remains largely consumption-driven, and SM Investments is well-positioned to support and capture this demand. Our ecosystem—spanning retail, banking, and property—enables us to navigate challenges while delivering long-term value,” said Frederic C. DyBuncio, SM Investments president and CEO.
CLSA noted that spending behavior continues to favor essentials over discretionary items, with minimarts playing an increasing role in daily purchases. One of SMIC’s key growth drivers, Alfamart, now operates over 2,100 stores nationwide and remains a vital retail format.
“We continue to see strong demand for essentials, with minimarts serving as a crucial access point for everyday consumer needs,” DyBuncio added.
Beyond retail, SM Prime Holdings and BDO Unibank remain central to SMIC’s expansion strategy. SM Prime’s mall network, currently at 87 locations, is expected to grow further, particularly in Northern Luzon, Visayas, and Mindanao. Meanwhile, BDO’s financial services complement SMIC’s ecosystem by supporting both consumer spending and business expansion.
“Our businesses complement each other—our expanding retail footprint enhances mall traffic, while BDO provides financial solutions that fuel both consumption and enterprise growth. These synergies allow us to build resilience and create shared value for our stakeholders,” DyBuncio said. — Ed: Corrie S. Narisma
