SM Investments Corp. is looking to strengthen the firm’s entertainment offerings to meet rising demand among younger Filipino consumers.
“[W]e recognize the younger generation’s growing preference for experiences and this shift opens new opportunities for growth across our businesses,” SM President and CEO Frederic DyBuncio said in a statement on Wednesday.
The conglomerate said its presence in entertainment extended beyond malls and arenas, with SMIC SG Holdings becoming the first local company to invest in Asia-based travel and experiences platform Klook.
Meanwhile, its logistics arm 2GO features karaoke lounges and video arcades aboard its vessels, while BDO Unibank and China Bank integrate lifestyle and travel-related rewards into customer programs.
SM said this group-wide approach positioned it to tap the country’s P1.94-trillion creative economy, which expanded by 8.7 percent in 2024, based on data from the Philippine Statistics Authority.
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SM said its businesses were being transformed into multi-dimensional “experience hubs” to cater to millennials and Gen Zs.
SM Supermalls Executive Vice President Joaquin San Agustin said, “Malling for the older generation of customers in SM Malls was much simpler and practical then — dining, shopping and fun. Fast forward to today with our emerging segments, the millennials and Gen Z, who grew up on the internet and social media — they now value the experience, the feeling of inclusivity, community involvement, and even sustainability.”
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“That is why our marketing efforts, including entertainment events, are now geared toward targeting communities, or what we call ‘tribes.’ These are your gamers, geeks, foodies, and the many fandoms sprouting who like more interactive and personalized experiences.”
SM’s share price fell by P14.00, or 1.76 percent, to close at P781.00 apiece on Wednesday.
