SY-LED SM Investments Corp.’s SM Markets is set to open seven more stores across Luzon before the year ends as it aims to provide better food shopping in developing communities.
“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,” SM Supermarket President Jojo R. Tagbo said in a press release.
The seven stores will be added in Air Residences Makati; Deca Homes Marilao in Bulacan; Tanza, Cavite; EB Town Center in San Jose Del Monte, Bulacan; Sorsogon City; Tuguegarao City; and Taytay, Rizal.
“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.
Meanwhile, the company said it expects a boost in consumer spending amid ongoing face-to-face classes and the upcoming holiday season.
Year to date, SM Markets saw an improvement in sales of fresh products, snacks, beverages, and other school-related commodities.
“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 said.
The company added that it continues to enhance its assortment to serve the evolving preferences of its customers amid its continued expansion. Its stores now offer imported brands such as Coles from Australia and El Corte Ingles from Spain.
SM Markets is the food retailing arm of the SM group. It serves as the umbrella brand of SM Supermarket, SM Hypermarket, and Savemore. To date, it operates 330 stores all over the Philippines. — Justine Irish D. Tabile