Can physical retail still outperform e-commerce?
In this exclusive interview recorded live at NRF 2026: Retail's Big Show Asia Pacific, Steven S. Tan, President of SM Supermalls, explains why physical shopping centres continue to thrive by putting customers at the centre of every decision.
SM Supermalls operates nearly 100 shopping centres across the Philippines and China, welcoming approximately 5 million visitors every day. Steven shares how continuous innovation, inclusive design, community-building and customer-first leadership have helped one of Asia's largest retail property businesses continue growing despite changing consumer behaviour.
In this episode you'll learn:
• Why physical retail continues to outperform expectations
• How shopping centres become community destinations
• Lessons retailers should learn before expanding into Southeast Asia
• Why customer experience matters more than technology alone
• How SM Supermalls approaches inclusivity and accessibility
• The biggest mistake retailers make when entering new markets
• Steven Tan's advice for staying relevant in retail
Whether you're a retailer, shopping centre operator, brand leader or retail technology professional, this conversation offers practical insights into the future of physical retail.
Recorded live at NRF 2026: Retail's Big Show Asia Pacific in Singapore.
Chapters
00:00 Introduction
00:23 What is SM Supermalls?
01:26 From Shoe Store to Retail Giant
02:01 The Future of Retail
02:53 Future-Proofing Shopping Centres
04:16 Customer Experience First
05:08 Inclusivity in Retail
07:07 Why Physical Retail Is Growing
08:01 Shopping Centres as Community Spaces
09:23 Advice for Global Retailers
10:13 Listening to Gen Z
10:39 How Brands Stay Relevant
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