SM Speeds Up Shift To ‘Omni-Channel’ Sales Amid COVID-19
SM – SM Investments Corp., who owns the largest mall operator in the country, is accelerating its shift to ‘omni-channel’ sales.
This is as people shift to a mix of online and in-store purchases amid the COVID-19 pandemic, according to a report from ABS-CBN News.
The group is tapping personal shoppers, ramping up delivery and pickup services and boosting its online presence, according to SM Prime’s mall unit president Steven Tan.
The firm started operating a virtual mall for Manila residents, which it aims to roll out nationwide soon, Tan added.
“You have to be present in all channels,”
“Retail is all about listening to your customers and moving so fast.”
The group, which was founded by the late Henry Sy, is adopting the “omni-channel” retailing approachin order to replicate the success by industry peers in China, where people shop both online and at malls.
Tan added that the shopping centres will not go out of style, although they need to keep up with changing times.
There are 75 shopping centers of SM in the Philippines and 8 in China. The firm is opening another in its home country this quarter and five more is planned for next year.
Based on the report, Filipinos are returning to shopping centers as COVID-19 quarantine curbs ease. However, shopping habits may have changed.
Tan added that people visiting malls are those purposely buying and not just window shopping and forecasted that by the third quarter in the year 2021, sales of tenants at SM malls will be back at end-2019 levels.
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