Resurgence of fashion buoys SM Store Growth

With strong consumer spending in retail, donning stylish outfits is definitely back in season. The SM Store saw a resurgence in its fashion department with the lifting of community restrictions that drew more crowds in stores and malls. Moreover, demand for fashion items was spurred by the resumption of school and face-to-face classes and the return to office set-up.

Dhinno S. Tiu, The SM Store Executive Vice President for Operations and Sales Support said that

with the easing of community restrictions, SM Store’s fashion categories that include clothes, shoes, bag, accessories and beauty, ended the second quarter on a high note, reaching 95% of pre-pandemic sales.

“The resurgence of fashion has been driven by more energized spending as the economy reopens. To meet this vibrant demand, we ensure that we provide relevant and up-to-date merchandise and constantly innovate to address the Filipino shopper’s ever-changing needs,” Mr. Tiu said.

Emerging trends Style trends shifted dramatically in the couple of years of the pandemic. Whether staying or working from home, people leaned towards comfortable lounge garments. ‘Athleisure’ also emerged to reflect a more active lifestyle.

Work outfits at The SM Store

People also started to bike to work, first arising from mobility restrictions but extending towards the promotion of one’s health and wellness, which required the appropriate and necessary gear.

Biking gear at The SM Store

Kids also needed new clothes to catch up with years of growth spurts. People emerged from community lockdowns badly needing wardrobe upgrades to go back to working in offices. As school reopened, there was also a pick-up in demand for school essentials–from shirts, uniforms, socks, shoes to bags and stationery supplies.

To target the youth, the SM Store developed a ‘Tee bar’ or that showcases T-shirts with young and whimsical designs.  The introduction of more gadget categories from earphones to gaming keyboards, also caters to a new gaming and tech savvy generation.

With these trends and the resurgence of shopping, SM Retail reported an increase of 18% in its revenues to PHP163.7 billion in the first half. SM Retail’s net income also grew by 91% to PHP7.0 billion due to optimized cost efficiencies across all retail formats.

Sustainable shopping through SM Green Finds

To provide sustainable options for customers, SM Retail pioneered the initiative SM Green Finds to enhance its offerings. As part of the company’s contribution to preserving the environment, the advocacy showcases responsibly made products by local artisans and suppliers. Products are marked by a Green Find badge to easily identify the various environment-friendly items at your favorite SM Stores.

Sustainable choices through SM Green Finds

Through SM’s home, fashion, and beauty lines, sustainable products such as kitchenware made from high-quality bamboo or tableware from acacia wood, fashion pieces from recycled materials, and beauty products free from harmful chemicals can be found.

With these, SM continues to adapt and evolve to provide customers the best value, complete and most diverse offerings to serve them wherever and however they want to shop.