SM Investments: Building partnerships and a culture to serve communities

As SM Investments Corporation pursues expansion and growth, it contributes to increasing economic activity and growing business resilience that supports hundreds of thousands of micro, small and medium-sized enterprises.

These MSMEs make up 99.5 percent of total business enterprises in the Philippines and generate more than 5.3 million jobs or 62.7 percent of the country's total employment, according to SM, a Philippine conglomerate that invests in shopping mall development, retail, banking, property and other businesses.

"As we expand, we are mindful about how this brings meaningful support to communities," SM Investments Corporation President and CEO Frederic C. DyBuncio said.

SM acts as a marketplace to more than 90,000 MSMEs partners, playing the big brother role and helping them navigate mainstream retailing. SM's retail stores serve as platforms for their partners to offer their products, master their entrepreneurial skills and grow their businesses. SM also provides holistic support through marketing advice, financial access as well as promotion and advertising.

Through its 82 malls in the Philippines and seven malls in China, SM delivers on the promise of a one-stop shop for the needs of the communities. From basic day-to-day items, to the first ice-skating rink in a tropical country like the Philippines, SM malls have evolved into so much more than just a place for shopping. Malls have been transformed into modern-day community centers reminiscent of the early Hispanic plaza complex.

These shopping centers became the core property business of the company that has led to its responsible expansion, generating job creation and boosting overall economic activity across its ecosystem of businesses. Moreover, SM is keen on pursuing growth and expansion to provide vital support to the economy that will reach more communities.

SM has been increasing its focus on provincial areas where local economies are growing faster. Over 80 percent of SM's new retail stores are in provincial areas into which a good chunk of growing overseas remittances flow.

"We will continue to invest in growth as we are still seeing more communities that need access to various goods and services," DyBuncio said.

SM continues to deepen its ability to serve millions of Filipino customers through partnerships and growth.

Health and beauty care chain Watsons has been a partner of SM since 2002 and is today part of SM's brand family. Its first stores in SM Megamall, The Podium in Ortigas and Mandaluyong in Metro Manila were the beginning of the health chain's rapid growth in the Philippines.

To serve Philippine communities, Watsons' Global Own Brands and Exclusives offer customers high-quality health products at affordable prices and are sourced locally from MSMEs.

Watsons also has dedicated spaces in its more than 1,000 stores nationwide for Sustainable Choices, products which contain no harmful ingredients — Clean Beauty, are made from responsibly sourced palm oil and FSC-certified paper, use better packaging materials and support refilling through refill packs. Sustainable Choices is the cornerstone of Watsons' sustainability strategy and the Do Good initiative is part of its proposition Look Good Do Good Feel Great. Watsons is the only health, wellness and beauty retailer in the Philippines with more than 1,521 sustainable stock keeping units that consumers can choose from.

Amid the pandemic, Watsons also provided integral support to the health initiatives of various local government units by offering vaccination services in its stores.