The country’s largest mall developer observed that Filipino consumers increasingly visit malls for leisure and dining.
It responded by increasing the focus on food tenants, which now make up 30 percent of leased spaces, up from 10 percent a decade ago, while entertainment and other non-food tenants occupy 50 percent, complemented by various service-related tenants.
“SM continues to innovate and elevate customer experiences,” SM Supermalls president Steven Tan said in a statement.
“Our goal is to create lasting memories through dynamic destinations that complement traditional shopping,” he added.
Positive response
The bet is paying off as SM Supermalls reported a 20 percent jump in foot traffic to over 4 million visitors in the first quarter of 2024.
“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,” Tan said.
Anime, K-pop
The shopping mall giant is preparing even more experience-based features to keep foot traffic heading its way.
SM Supermalls introduced the Space & Time Cube+ at S Maison, an immersive art museum with 20 themed attractions like LED tunnels and holographic displays.
SM supports a host of fandoms, offering a platform for K-pop, anime, and artist fan gatherings.
In 2023, it rolled out the SM Mall of Asia Game Park, which features a 1,947 square meter indoor entertainment complex with amenities like a bowling alley, basketball court, e-darts, and an indoor archery range.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
