SM Supermalls is shifting its focus toward dining, entertainment and community spaces to keep consumers visiting physical retail locations despite growing online competition, according to a report by BusinessWorld. The company plans to open one flagship mall each year from 2026 to 2030.
"People no longer visit malls just to shop," SM Supermalls President Steven T. Tan said in a statement. The strategy emphasizes creating destinations where consumers can dine, be entertained and gather, as e-commerce continues to erode traditional retail foot traffic.
The move reflects a broader industry trend where mall operators invest in experiential offerings to differentiate from online platforms. SM's pipeline of flagship developments signals confidence in physical retail when integrated with lifestyle and leisure components.