An event platform built for your creative efforts to succeed.

SM Retail retains crown as top retailer in PH

SM Retail retains crown as top retailer in PH
  • Trying to make sense of overflowing marketing data and information? Join marketing leaders from BigPay, Entropia, MSL Malaysia, Popeyes, and Vase.ai uncover the best approaches this July 27 at Consumer Insights Power-Up 2022. Register now for FREE!

Philippines — Euromonitor International has released its latest ‘Top 100 retailers in Asia 2022’ report featuring four familiar players from the Philippine business sector in the SEA rankings. Leading the market is SM Retail, the retail giant with a portfolio of supermarkets, department stores, and specialty stores, which landed at the eighth spot for the whole region recording $5b in sales for 2021.

Meanwhile, the other three Philippine retail firms included in the list are pharmaceutical company Mercury Drug sitting at the 11th spot with $3.6b in sales; following closely at the 12th spot is the grocery retailer Puregold Price Club with $2.9b in sales; and lastly Robinsons Retail stands at 16th spot recording a $2.3b in sales. All four PH firms, including SM Retail, recorded an improvement in their SEA rankings.

For this year’s list SEA Ranking, the Singapore-based global consumer internet company Sea took the number one spot for the region. Sea is the parent company of Shopee, the leading e-commerce site for the region.

For the whole of Asia, Alibaba Group of China and JD.com, another Chinese e-commerce company, were named top firms.

According to Euromonitor’s report, the state of retailing in SEA is largely fragmented. SEA is home to over 500 million people that have diverse ethnicities, cultures, religions as well as diverse shopping habits.

“Conquering this market is complex. Regional e-commerce players must create localised strategies like search engine optimisation for respective countries and languages or product lines catered to various cultural needs,” said Euromonitor.

Furthermore, according to the general overview of retailing in the Philippines from Euromonitor, e-commerce has had a presence in the Philippines for a few years, but its sales hold a noticeably lower share of overall retailing than in its neighbouring Southeast Asian markets because Filipinos are strongly accustomed to shopping via in-store retailing channels. The experience of shopping in-store is something that e-commerce can not replicate, but the pandemic forced Filipinos to adopt e-commerce out of necessity.

Additionally, shopping centres remain the primary shopping destinations in the Philippines, despite being mandated to have limited operation during quarantine periods. Essential retailers like supermarkets and drugstores/para pharmacies remained open in shopping centres so they still experienced foot traffic in 2021.

On the other hand, customer experience when shopping in-store and customer safety when shopping online, in terms of delivery and handling of products, are chief considerations among Filipinos when shopping.

  • Box_2022 Global Customer Engagement Review

    The voice of 1,500+ global marketing decision-makers is collected to bring you the top trends in customer engagement for this year. Learn more about the state of customer engagement in APAC. Download the 2022 Global Customer Engagement Review.

  • The Brand Love 2022 report is here. In this report, Talkwalker and Hootsuite analysed over 1,500 brands to identify the ones driving consumer passion globally and in Southeast Asia. Learn how these brands are engaging their audience and how you can boost your own brand love – download the report now.

Share this story