SM Supermalls, the mall operations unit of SM Prime Holdings, said Wednesday the average daily foot traffic in 2024 hit a record 5.2 million, a 6-percent increase from 4.9 million visitors in 2023.
It attributed the record performance to a combination of favorable economic conditions, strategic mall and tenant expansion and a dynamic mix of entertainment and in-mall events.
“This milestone reflects the trust and loyalty of our shoppers, the strength of our tenant partnerships and the evolution of our malls as vibrant community hubs,” said SM Supermalls president Steven Tan.
As of end-2024, SM Supermalls had 22,579 tenant stores, nearly 70 percent of which were micro, small and medium enterprises (MSMEs).
SM Supermalls also welcomed several new foreign brands in 2024, including Disney Store, National Geographic, Nitori and Paris Baguette. These additions helped diversify the offerings available to shoppers, further enhancing the mall experience.
Aside from diversifying its tenant mix, the company’s continued mall expansion also helped SM SuperMalls hit the record daily foot traffic.
SM Prime opened two new malls last year including SM City Caloocan, which launched on May 17 with 53,577 square meters of retail space across three levels and SM J Mall, which opened on Oct. 25.
It ended 2024 with 87 malls across the country.
SM Supermalls set its sights on continued growth in 2025, with P21 billion allocated for the expansion of its gross floor area (GFA).
This will add 205,400 square meters of new retail space, while 124,488 square meters of existing mall space will undergo redevelopment.
SM Supermalls said it remains committed to providing engaging experiences for visitors through large-scale events, regular activities and exciting new attractions.
These include weekly job fairs, the launch of the MOA Sky and Sky Bark, fan meets, and SM Little Stars—the country’s biggest and longest-running mall-based kiddie talent search.
“As we enter SM’s Bold New Era, our expansion strategy remains focused on strengthening our presence in key areas, curating an optimal tenant mix and continuously evolving with our customers to meet their changing needs and aspirations,” Tan said.