SM hits 5-M mall shoppers

SM Supermalls top honcho Steven Tan confirmed to the Daily Tribune that foot traffic in SM malls throughout the country has breached 5 million for a single day.

“We have an average daily foot traffic of 4.2 million. But on certain days during the Christmas season, we have noted foot traffic of over 5 million per day,” Tan intimated to Daily Tribune.

Foot traffic is an essential indicator of the performance of the conglomerate since the mall leasing segment remains the top dog in SM Supermalls parent SM Prime Holding’s revenue mix, generating P19.3 billion in the second quarter.

SMPH now spans 96 malls (88 in the Philippines and eight in China) it also has 13 malls under construction (10 in the Philippines and three in China).

The company’s recent additions, SM City Yangzhou and SM City Caloocan, are already paying off and are making their mark in the latest report as mall goers splurge in retail, according to Regina Capital Development Corp.

The debut of SM City J Mall (Mandaue City, Cebu) and SM City Laoag ramped up SMPH’s gross leasable space by an extra 236,000 square meters (sqm).

By the end of 2026, SMPH aims to operate 100 malls.