The SM Group, through its SM Markets division, is poised for significant expansion in 2024. With plans to launch 10 to 15 new stores across provincial areas, this move aims to provide enhanced access to modern grocery shopping for more Filipinos.
With these new additions, SM Markets will surpass 350 stores nationwide, marking a notable milestone in its growth trajectory. Over 70% of these stores are located outside the National Capital Region (NCR), reflecting the company's commitment to serving more remote areas. This expansion aligns perfectly with SM Markets' mission to deliver quality, affordable products and exceptional service to Filipino homes, regardless of their location.
The expansion also demonstrates SM Markets' dedication to supporting local Micro, Small, and Medium Enterprises (MSMEs). By featuring locally-produced goods, the new stores will provide more options for local communities and bolster the regional economy.
“This regional expansion is aligned with SM Markets' commitment to reach more customers by bringing quality, affordable products and exceptional service closer to more Filipino homes,” the firm stated.
New Store Openings Across the Country
In the first half of 2024, SM Markets will open new branches in several key locations including Mati (Davao Oriental), Marilao (Bulacan), and Naujan (Mindoro). These follow the recent openings of Savemore Siniloan (Laguna), Savemore Pantukan (Davao de Oro), Savemore Hotel Supreme (Baguio), and SM Supermarket Caloocan earlier this year.
A Track Record of Growth and Service
Currently, SM Markets operates 66 Supermarkets, 54 Hypermarkets, and 223 Savemore stores, reflecting a robust and diverse portfolio. This latest expansion follows a successful year in 2023, during which 12 new stores were opened in various locations including Iloilo, Bataan, Leyte, and General Santos, along with two SM Cherry branches in Aklan and Rizal.
The three brands under SM Markets—SM Supermarket, SM Hypermarket, and Savemore—each address unique aspects of Filipino shopping needs. SM Supermarket, located within SM malls, provides a wide variety of food products. SM Hypermarket blends the features of a supermarket with those of a department store for added convenience. Savemore focuses on offering essential groceries and is easily accessible to communities throughout the country.
With this strategic growth, SM Markets continues to reinforce its presence in the Philippines, bringing quality grocery shopping experiences closer to more Filipino families. This expansion is a testament to SM Markets' unwavering commitment to providing exceptional service and supporting local communities across the nation.
