Fashion resurgence drives growth of SM Store

PASAY, Philippines, September 13, 2022 /PRNewswire/ — The SM Store has seen a resurgence in its fashion department, spurred by the return of crowds to stores and malls with the lifting of community restrictions.

Dhinno S. Tiu, SM Store’s Executive Vice President for Sales Operations and Support, said SM Store’s fashion categories which include apparel, footwear, Bagsaccessories and beauty, ended the second quarter on a high note, reaching 95% of pre-pandemic sales.

“Fashion’s resurgence has been spurred by more aggressive spending as the economy reopens. To meet this dynamic demand, we are focused on delivering relevant, up-to-date products and constantly innovating to meet ever-changing needs. Filipino buyers,” says Mr. Tiu.

Trends that emerged over the years under a pandemic leaned toward comfortable loungewear paired with active wardrobe choices when people chose to cycle to work during shutdowns. Kids are also due for a much-needed wardrobe change after a two-year growth spurt. And with the resumption of face-to-face classes, there has also been an increase in demand for school essentials such as shirts, uniforms, shoes, bags and stationery supplies.

With the younger generation in mind, The SM Store developed a ‘Tee Bar,‘ this presents a selection of t-shirts with whimsical and creative designs. The demographic known for their quick and expert understanding of technology can also indulge in the assortment of gadget categories, from headphones to gaming keyboards, that are sure to help a distance learning course or upgraded gear for his next gaming session.

Welcoming the changing trends amid the resurgence in shopping, SM Retail recorded an 18% increase in revenue to PHP 163.7 billion in the first half of 2022. SM Retail’s net profit also increased by 91% to reach PHP7.0 billion through optimized cost savings across all retail formats.

Considering its impact on the environment, SM Retail launched the SM Green Finds initiative. As part of the company’s advocacy for responsibly produced products, the program aims to provide sustainable options to consumers while showcasing local artisans and producers. These products are marked with a Green Finds badge at your favorite SM store.

SM continues to adapt and evolve to provide customers with the most comprehensive, diverse and beneficial offerings to serve them where and how they want to shop.

SOURCE SM Investment Company

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