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Despite challenges, Pinoys rise above with their resourceful spirit. Packworks reveals how they stay ahead in 2024.

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Pinoys become more ‘madiskarte’ in 2024 – Packworks study

Packworks unveils key insights in first-ever Sari-Sari Store Innovation Summit

Manila, Philippines — Filipinos have embraced the local proverb, “Kapag maiksi ang kumot, matutong mamaluktot” (when the blanket is short, learn to bend) in 2024, navigating rising prices with resourceful purchasing habits.

This resilience is highlighted in the latest Sari IQ report by Packworks, a Filipino startup that provides a business-to-business (B2B) open platform to sari-sari stores, providing a snapshot of the state of the grassroots retail sector in the country.

The study reveals that sales of seasoning mix items grew by 80% compared to the previous year, while recipe mix sales surged by 72%. Additionally, seasoning mix was sold in 69% more sari-sari stores, while recipe mix saw an even greater reach, expanding to 79% more locations.

These trends reflect the resourcefulness of Filipino households, who are stretching their budgets by buying cost-effective additives to enhance cheaper ingredients sourced from wet markets. As prices continue to rise, many Filipinos find ways to make their money go further.

“The resilience of Filipinos shines through in the way they adapt their purchasing habits to make ends meet. These insights highlight not only the shifting preferences of sari-sari store customers but also their enduring ingenuity in navigating economic challenges,” said Andoy Montiel, Packworks’ Chief Data Officer.

The report also showed that the Bicol region (Region V) recorded the highest sales growth this year, with over PHP 616 million in gross merchandise value (GMV) from sari-sari store transactions this year, moving up four positions compared to 2023. Compared to last year’s study, CALABARZON (Region IV-A) (PHP 1.9 billion), Central Luzon (Region III) (PHP 1.02 billion), Cagayan Valley (Region II) (PHP 979 million), Ilocos Region (Region I) (PHP 811 million), and Central Visayas (Region VII) (PHP 695 million) remained the top regions with the highest GMV.

“The sales growth in Bicol can be attributed to the increase in the number of sari-sari stores in our network in the region,” Montiel explained. “Additionally, we’ve observed that rural, agriculture-based regions like Bicol remain more dependent on sari-sari stores than modern trade stores such as groceries.”

Packworks compiled the findings from its network of over 300,000 sari-sari stores nationwide through its business intelligence tool Sari IQ. Launched in 2022, it utilizes data analytics to understand and predict consumer behavior, enabling retailers and multinational brands to make data-driven decisions that boost sales for sari-sari store owners and expand their product offerings to a larger customer base.

Packworks hosts inaugural Sari-Sari Store Innovation Summit

Packworks unveiled these insights during its first-ever Sari-Sari Store Innovation Summit in Taguig City. The event brought together key figures and decision-makers from some of the country’s most prominent FMCG brands, distributors, and policymakers to delve into how technology and collaboration can address the challenges faced by sari-sari stores, from digitalization to economic empowerment.

Among those present was Department of Trade and Industry (DTI) Former Undersecretary Ed Sunico, who gave his keynote speech highlighting the role of sari-sari stores in the country.

“Sari-sari stores remain the fastest-growing channel compared to modern trade per year-on-year, serving as an indispensable part of the sales ecosystem in the Philippines. Despite this, many stores are still operating informally, do not have access to government support and financing, and are behind in technology adoption,” Sunico said.

He highlighted public-private partnerships as essential to empowering the sector, citing the DTI’s “Tindahan Mo, e-Level Up Mo!” program, launched in collaboration with organizations like Packworks to support and digitalize MSMEs.

The event also featured a panel on leveraging data and technology to transform the retail supply chain. Moderated by Packworks Chief Marketing Officer Ibba Bernardo, the panel included industry leaders like Miko David, President of David & Golyat; Jojo Malolos, CEO of Paymongo; Richard Sanchez, Sales Director of Unilever RFM (Selecta); and Jill Que, Sales Director of Alaska Milk Corporation.

“Together with our partners, we are committed to providing sari-sari stores with business success that they would not have achieved without technology. As we build our network of stores, let’s imagine a future for them beyond digitization,” said Packworks CEO Bing Tan as he closed this year’s event.

Learn more about how Packworks transforms grassroots retail and empowers sari-sari store owners across the Philippines by visiting http://packworks.io/.

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OTHER KEY INFO:

• Packworks was born in 2018 out of a passion project by founders Tan, Bernardo, and Yap, who started as motorbike buddies delivering solar panels to provinces and far-flung places across the country. During their excursions, they saw firsthand the challenges brought by limited access for sari-sari store owners and embarked on developing an application for small store businesses to have a one-app stop for all their needs. 

• Launched as a solution for multinational companies with only a handful of sari-sari store partners, Packworks has rapidly expanded as a B2B platform that enables growth and success throughout all stakeholders in the supply chain ecosystem, from small sari-sari store owners to wholesalers, distributors, and renowned FMCG companies and brands. With about 75% of sari-sari stores owned by women, Packworks also works to empower female entrepreneurs.

ABOUT PACKWORKS

Packworks is a startup company that provides a business-to-business (B2B) platform that is easy to use, has low bandwidth, and has a light footprint that will allow sari-sari store owners to become more efficient in managing their business. Founded in 2018 and started as a solution for multinational companies in the Philippines to connect with neighborhood stores, the platform has now transformed into a way out of poverty for the millions of sari-sari store owners across the Philippines. Packworks empowers the sari-sari stores through scalable and accessible technology, with its team composed of dedicated developers, programmers, and technicians that work to put the power back into the hands of the people at the heart of Filipino communities by providing them with digital opportunities previously only available to big companies. By bringing technology-based solutions to one million Filipino sari-sari stores, Packworks is driving toward a more progressive, connected, and inclusive Philippines.

Conclusion

The Packworks study reinforces what the world already admires about Pinoys: their unparalleled adaptability and creativity. In 2024, being ‘madiskarte’ is more than just a trait; it’s a testament to the Filipino spirit of resilience. Let’s celebrate this ingenuity and continue to support each other’s efforts to thrive in a challenging world.

Key Phrases

1. Filipino resilience in 2024
2. ‘Madiskarte’ Pinoys highlighted
3. Packworks Filipino ingenuity study
4. Adapting to challenges in 2024
5. Resourceful Pinoys thrive
6. Filipino creativity in tough times
7. Pinoy adaptability study
8. 2024 Filipino innovation trends
9. Packworks Pinoy mindset report
10. Empowering Filipino resourcefulness

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Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

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