7 RETAIL NEWS CAPSULE
PHILIPPINE RETAILING
SM , the country ’ s leading retailer , took a brand refresh journey - here ’ s why
According to an April 2022 report of DataReportal , 68 % of Filipinos are online and spend at least 10 hours a day online .
With more Filipino consumers browsing online across different platforms , standing out and meeting the demands of the digitally savvy Filipino shopper is a must . For SM , the country ’ s largest and oldest retail brand , embarking on a brand refresh journey was the next step towards making the homegrown brand closer to the new generation of Filipino shoppers . The behavior of Filipino consumers has been in constant evolution , and along with it is the capacity for retailers to offer better services .
SM has met the challenges of recent years with foresight and enthusiasm as the brand stayed true to its core - delivering service with a smile . The Shoemart from six decades ago in Carriedo and the SM that everyone knows today share the same quality of service that their patrons recognize .
“ Every SM is a melting pot of people from all walks of life . We serve millions every day , making SM a brand that matters . We have become an important part of the lives of millions of Filipinos . We owe it to them to continuously deliver the best quality of service ,” SM Retail Vice President for Corporate Communications Cathy S . Ileto said in a presentation at the National Retail Conference and Expo .
Evolving with Consumers
“ We take great care in understanding them and what they want . Through the clutter of choices and the digital evolution , we remain hand in hand with our customers in providing them the service that goes beyond the exchange of money and products ,” Ileto shared .
SM worked with Pentagram , a multi-disciplinary , independently owned design studio . Their expertise includes strategy and positioning , websites and digital experiences , and data visualizations and typefaces . Their portfolio spans five decades , many industries , and clients of every size including Tiffany & Co , The
Oprah Winfrey Show , Sundance Film Festival , Rolls Royce , Nissan , Time Warner , FIFA , United Airlines and Nike . In collaboration with Pentagram , SM was able to come up with a refreshed brand that put to rest challenges of inconsistencies while being digitally ready .
SM ’ s new look features the masterbrand logo that is dynamic and flexible . Blue remains to be its unifying color with a unique color called SM Electric Blue that ’ s both young and energetic while being friendly and approachable . But the refresh journey goes beyond a new look - SM continuously strives to find more innovative ways to serve its consumers through different experiences .
“ We know that our brand goes beyond the logo and what our consumers see . The SM brand is the community founded on the integral values that the company continues to espouse . Ours is a brand that is based on a seamless and accessible customer experience . It ’ s an experience that makes friends and families want to go back and experience it one more time ,” Ileto added .
DTI chief urges retailers to accelerate digital transformation
Department of Trade and Industry ( DTI ) Secretary Alfredo Pascual urged retailers to accelerate the adoption of digital technology in their operations for them to thrive on the challenging path to recovery .
During the Philippine Retailers Association ( PRA ) general membership meeting , Pascual said he envisions the adoption of digital transformation down to micro , small , and medium enterprises ( MSMEs ) to help them improve their productivity , enhance efficiency , reduce costs , and earn more profit . `The new DTI chief also encouraged retailers to promote digital payment .
“ Digitizing merchant payments is of utmost importance and that will be an important instrument for facilitating transactions between consumers and retailers . I urge PRA to recalibrate and accelerate digital transformation , especially of micro , small , and medium enterprises , by the promotion of digital payments , as well as digitalization of processes of retailers ,” he said .
Amid rising commodity prices , Pascual enjoined retailers to cooperate with the DTI for consumer protection and empowerment .
“ We aim to ensure the availability of basic necessities and prime commodities to our fellow Filipinos at affordable prices , and we will do so by closely monitoring prices so that there is no manipulation , there is no profiteering , there is no hoarding , and there is no cartelization , and when needed , negotiating with manufacturers and producers ,” he added . Pascual also encouraged retailers to take advantage of the Retail Trade Liberalization Act ( RTLA ) by partnering with foreign companies .
He said with the enactment of the RTLA , the new law will usher in some PHP54 billion in foreign investments within five years . Pascual also urged PRA to collaborate with DTI to initiate the Philippine Skills Framework for Retailers ( PSF-Retailers ).
“ The proposal is to adopt the Singapore Skills Framework for Retail , with the proposed PSF seeking to help persons who wish to join and advance in the retail sector analyze their career interests , locate relevant training programs to enhance their skills , and prepare for the desired job roles ,” he said .
He assured retailers that the DTI will continue to push for policies that will foster the growth of the retail sector across the country .
( PNA , 07 / 07 / 2022 )