Economics of graduation
Graduation is a symbol of the biggest and most significant transitions in one’s life which is usually celebrated with a pomp and glitz.
For a few weeks of the year, SM malls, department stores, and convention centers open their doors to graduates to cater to this rush of seasonal demand celebrating the achievements of the past and high hopes for the future.
But beyond this, it is also an indicator of thriving consumer, business and economic activity.
Buying not suits but jobs
Retail for one becomes an even more vibrant industry during the graduation season with increased demand for suits, ties, gowns and accessories.
Chelo Monasterio, executive vice president at SM Retail says that during graduation, sales of fashion items tend to shoot up in SM stores nationwide. These items are related to the graduation activities and range from neckties to suits or blazers to evening dresses, men’s dress shirts, watches and jewelry. These, on top of the staples like socks, stockings, shoes, belts and handkerchiefs.
Over the last five years sales of these categories have grown by 13 percent, and for certain men’s fashion brands, by 25 percent. Sales of accessories in March grabbed the lion’s share of the total.
Soledad Quirante, who works as a nanny for 6-year-old Russell, recalls running to the SM Store in Makati, the nearest department store to where her “alaga” studies. She had to rush there to look for a white long-sleeved polo shirt since the boy’s mother forgot that the graduation pictorial for “Moving Up Day” was scheduled that day. “Nakahanap naman po ako ng lahat ng kailangan (I was able to find everything I needed),” Quirante says.
She also says that the red bowtie that Russell needed for the graduation, which was supposed to be smaller compared with men’s regular bowties was available at the men’s accessories of the SM Store.
Nina Zabella, mother to Chico, 7 years old, recalls buying black pants for her son last year in SM for his graduation.
“SM is always my ‘go to’ store,” Zabella says adding that the price range is within her budget and the items are affordable. “SM is very helpful when it comes to school requirements. And if I need anything, it’s SM by default,” Zabella says.
Beyond sales, the retail industry also generates jobs for new graduates. For 2013, SM Retail’s department store group hired over 900 new graduates comprising 49 percent of total hires for that year. For 2012, new graduates hired made up 32 percent of total hires.
Committed to country
“We are continuously hiring in almost all of our divisions with bulk of it in sales and operations, customer service and merchandising. This is a natural offshoot of the continued expansion of the SM group which shows its firm commitment to the Philippines and toward alleviating the lives of Filipinos,” Monasterio says.
In fact, aside from retail, the malls provide an even bigger venue for new graduates eager to choose from a wide array of jobs through an annual fair held in time for Labor Day, just a month or two after the graduation month.
Data from SM’s Shopping Center Management Corp., the company which manages all SM Supermalls indicated that during the recent job fair held on May 1 across SM malls, over 2,700 companies participated, an 11 percent increase from over 2,400 the previous year. Job vacancies that were offered also grew 5 percent to over 415,000 from over 394,000 the previous year.
Malls have become part of Filipinos’ milestones—especially graduation, the rite of passage to a brighter future. And as SM continues to expand and innovate its malls across the nation, it will continue to serve every Filipino’s dream of a better tomorrow.
