SM Investments Corporation and Lazada has recently inked a strategic partnership in the hopes of catering to the growing numbers of consumers who are doing most of their shopping through the online platform.
During an interview with Bloomberg, Teresita Sy-Coson, the daughter of Henry Sy and SM’s vice chairwoman, stated that both SM and Lazada will leverage each other’s strengths and added that “it is important for a retailer to online and it’s the right move to go with Lazada.
In line with the newly-forged allegiance, SM plans to initially sell “light-to carry non-food” products on Lazada. From there, SM will continue to grow their online portfolio which, according to the interview with Bloomberg, may include “home furnishings and appliances”.
Despite having its own website where SM sells toys and home appliances, SM is confident that the partnership that they’ve forged with Lazada will help them cope with the evolving market and reach more consumers, particularly those who shops online, in the process.