SM Group Responds to Growing Demand for Beauty and Wellness Products Nationwide
SM Group's Response to Consumer Trends
In response to the escalating consumer interest in beauty and wellness, the SM Group has made substantial strides through its retail subsidiaries to ensure greater access to these products across the Philippines. With over 1,000 beauty brands available in 77 branches nationwide, SM Beauty not only caters to the local market but also includes prestigious international brands such as YSL, Lancôme, and Calvin Klein in its extensive lineup.
In a bid to enhance the shopping experience, SM has introduced specialized beauty hubs within select stores. These hubs are dedicated spaces where customers can benefit from personalized beauty services, including hair coloring and makeovers, all overseen by a newly expanded team of skilled beauty consultants. According to Jonathan Ng, President of SM Retail, the company recognizes the significant growth patterns in beauty and wellness across various demographics, and is committed to providing enriching experiences through an evolving array of unique products and services.
The beauty and wellness markets continue to show robust global growth, spurred by a rising demand for personal care solutions. The Global Wellness Institute projects that the worldwide wellness economy is set to approach a remarkable USD 9 trillion by the year 2028. In this context, the Philippines has emerged as a noteworthy player, ranking 13th among 218 economies in the personal care and beauty sector as part of the global wellness economy in 2023. This ranking highlights the burgeoning market size and the influence of a youthful, wellness-oriented consumer base.
As part of its ongoing expansion, Watsons Philippines, another prominent retail entity under the SM umbrella, continues to innovate in redefining the beauty and wellness shopping experience. By rolling out exclusive skincare ranges, offering health services, and implementing sustainability-focused in-store initiatives, Watsons aims to engage today's health-conscious consumers effectively.
The SM Group remains unwavering in its commitment to shaping the future landscape of beauty and wellness retail. By expanding product offerings and enhancing shopping experiences, SM aims to ensure greater accessibility and diverse choices for all Filipinos. As demand for beauty and wellness products continues to rise, SM is poised to lead in the sector, promising a brighter future for its customers and the industry alike.
About SM Investments Corporation
SM Investments Corporation stands as one of the foremost enterprises in the Philippines, with investments spanning several thriving markets including retail, banking, and property. The retail division, in particular, is distinguished for being the largest and most diverse in the country, comprising grocery stores, department stores, and specialty outlets. Additionally, SM Prime Holdings, Inc., the property segment of SM, is recognized as the largest integrated property developer in the Philippines, engaging in various ventures that encompass shopping malls, residential properties, offices, hotels, and convention centers. Furthermore, SM maintains significant banking interests primarily through BDO Unibank, the nation's leading bank, and China Banking Corporation, the fourth largest private bank in the Philippines.
In response to the escalating consumer interest in beauty and wellness, the SM Group has made substantial strides through its retail subsidiaries to ensure greater access to these products across the Philippines. With over 1,000 beauty brands available in 77 branches nationwide, SM Beauty not only caters to the local market but also includes prestigious international brands such as YSL, Lancôme, and Calvin Klein in its extensive lineup.
In a bid to enhance the shopping experience, SM has introduced specialized beauty hubs within select stores. These hubs are dedicated spaces where customers can benefit from personalized beauty services, including hair coloring and makeovers, all overseen by a newly expanded team of skilled beauty consultants. According to Jonathan Ng, President of SM Retail, the company recognizes the significant growth patterns in beauty and wellness across various demographics, and is committed to providing enriching experiences through an evolving array of unique products and services.
The beauty and wellness markets continue to show robust global growth, spurred by a rising demand for personal care solutions. The Global Wellness Institute projects that the worldwide wellness economy is set to approach a remarkable USD 9 trillion by the year 2028. In this context, the Philippines has emerged as a noteworthy player, ranking 13th among 218 economies in the personal care and beauty sector as part of the global wellness economy in 2023. This ranking highlights the burgeoning market size and the influence of a youthful, wellness-oriented consumer base.
As part of its ongoing expansion, Watsons Philippines, another prominent retail entity under the SM umbrella, continues to innovate in redefining the beauty and wellness shopping experience. By rolling out exclusive skincare ranges, offering health services, and implementing sustainability-focused in-store initiatives, Watsons aims to engage today's health-conscious consumers effectively.
The SM Group remains unwavering in its commitment to shaping the future landscape of beauty and wellness retail. By expanding product offerings and enhancing shopping experiences, SM aims to ensure greater accessibility and diverse choices for all Filipinos. As demand for beauty and wellness products continues to rise, SM is poised to lead in the sector, promising a brighter future for its customers and the industry alike.
About SM Investments Corporation
SM Investments Corporation stands as one of the foremost enterprises in the Philippines, with investments spanning several thriving markets including retail, banking, and property. The retail division, in particular, is distinguished for being the largest and most diverse in the country, comprising grocery stores, department stores, and specialty outlets. Additionally, SM Prime Holdings, Inc., the property segment of SM, is recognized as the largest integrated property developer in the Philippines, engaging in various ventures that encompass shopping malls, residential properties, offices, hotels, and convention centers. Furthermore, SM maintains significant banking interests primarily through BDO Unibank, the nation's leading bank, and China Banking Corporation, the fourth largest private bank in the Philippines.
Topics Consumer Products & Retail）
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