PASAY CITY, Philippines, Oct. 20, 2022 /PRNewswire/ -- SM Markets is focusing its strategic expansion to help more Filipinos in the regions.
SM Markets, the SM Group's umbrella brand for SM Supermarket, SM Hypermarket and Savemore, is adding seven more stores in Air Residences Makati, DECA Marilao, Tanza, EB Town Center in San Jose Del Monte, Sorsogon, Tuguegarao and Taytay all slated for the rest of the year. As of October 2022, SM Markets has a total store count of 330 all over the Philippines.
"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," Jojo R. Tagbo, SM Supermarket President said.
"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," Mr. Tagbo said.
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," Mr. Tagbo added.
It 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 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.
SM Markets is the food retailing arm of the SM Group and serves as the mother brand of SM Supermarket, Savemore Market, and SM Hypermarket, answering every family's essential needs.
SOURCE SM Investments Corporation