![[READOUT] How malls are still growing despite a cautious Filipino consumer](https://images.weserv.nl/?url=www.rappler.com%2Ftachyon%2F2026%2F09%2Fimage-1.png&w=3840&q=75&output=webp&we)
PHDespite a sluggish Philippine economy with low growth (2.3% in Q2 2026), high inflation (averaging 5% in 2026), and rising household expenses, major mall operators SM and Ayala reported revenue growth. SM saw mall revenues rise 8% to PHP41.8 billion with 96% occupancy, while Ayala's mall revenues grew 9% to PHP12 billion, with same-mall sales up 7% and foot traffic increasing 5%. The report highlights shifting consumer behavior toward being more intentional and value-conscious, with shoppers prioritizing quality over quantity and seeking experiential elements in malls. Retailers are adapting by offering diverse products, enhancing leisure and dining options, and expanding into provincial areas.
Bias read (Center): The article presents a balanced overview of economic conditions and retail trends without overt ideological slant. It reports on both economic challenges and retail sector resilience, citing data from SM and Ayala without favoring one perspective over another. While it discusses shifts in consumer行为
