What: Mall traffic in Philippines is increasing 21% year on year

Why it is important: the secret sauce, like everywhere else, is dining and experience.

SM Supermalls, a prominent Philippine mall chain under SM Prime Holdings, has witnessed a significant 21% increase in first-quarter foot traffic, reaching over four million daily visitors compared to last year's 3.3 million. This rise is largely attributed to a growing consumer interest in leisure and dining experiences. The shift in consumer preferences is evident in the mall's space allocations, with food tenants now occupying 30% of the leased area—a substantial rise from just 10% a decade ago. Non-food sectors, including entertainment options, make up 50% of the space. This period also saw the introduction of innovative attractions like the Space & Time Cube+ at S Maison and Cosplay City at SM City Fairview, emphasizing the company's strategy to enhance the shopping experience by creating dynamic destinations.

Philippines’ SM Supermalls sees double-digit growth in foot traffic