pasay, Philippines, September 13, 2022 /PRNewswire/ — SM stores have seen a resurgence in the fashion sector, fueled by the lifting of community restrictions and the return of people to stores and malls.
Dhinno S. Tiu, Executive Vice President of SM Store Operations and Sales Support, said: bagaccessories and beauty finished the second quarter on a strong note, with sales reaching 95% of pre-pandemic sales.
“The resurgence of fashion is being driven by increased consumption as the economy reopens. To meet this vibrant demand, we are committed to providing relevant, up-to-date offerings and helping the ever-changing Philippine market. We are constantly innovating to meet the needs of our shoppers,” Tiu said.
A trend that emerged during the years under the pandemic was leaning toward comfortable loungewear, coupled with active wardrobe choices, as people opted to ride their bikes to work during lockdown. The kids are also forced to make some much-needed wardrobe changes for two years of rapid growth. In addition, with the resumption of face-to-face classes, demand for school essentials such as shirts, uniforms, shoes, bags, and stationery has increased.
With the younger generation in mind, SM Store developed “Teabar,‘ that Introducing a selection of t-shirts featuring quirky and creative designs. A demographic known for its quick and professional grasp of technology can also indulge in an assortment of gadget categories ranging from earbuds to gaming keyboards. This will aid in distance learning classes and some of the upgraded equipment for your next gaming session.
SM Retail welcomed changing trends amid a resurgence in shopping, reporting an 18% increase in revenue to P163.7 billion in the first half of 2022. SM retail’s net profit also increased by 91% 7 billion pesos Due to optimized cost efficiency in all retail formats.
Considering the environmental impact, SM Retail pioneered the initiative SM Green Finds. As part of the company’s endorsement of responsibly manufactured products, the program aims to provide consumers with sustainable choices while showcasing local artisans and producers. These products carry the Green Finds badge at your favorite SM store.
SM continues to adapt and evolve to provide the best value and the most complete and diverse range of products to our customers, wherever and how they want to shop.
Source: SM Investments Corporation