Packworks study: Pinoys will become “Madiskarte” in 2024

FILIPINOS in 2024 have adopted the saying “Kapag maiksi ang kumot, matutong mamaluktot (when the ceiling is short, learn to bend)” and adapted resourceful purchasing habits in the face of rising prices.

The latest Sari IQ report from Packworks, a Philippine B2B platform for sari-sari stores, highlights this resilience.

Sales of spice mixes increased by 80 percent while sales of recipe mixes increased by 72 percent, reflecting Filipinos’ ingenuity in improving affordable ingredients.

TECHNOLOGY EMPOWERS MSMEs Andoy Montiel, Chief Data Officer of Packworks, reveals key insights at the first-ever Sari-Sari Store Innovation Summit. PHOTO BY PACKWORKS

Products also expanded to 69 percent and 79 percent more stores, respectively.

“Filipinos’ resilience is evident in their adaptable purchasing habits. These insights highlight changing preferences and continued ingenuity amid economic challenges,” said Andoy Montiel, Chief Data Officer at Packworks.

Bicol (Region 5) recorded the highest sales growth with a gross merchandise value (GMV) of P616 million, improving four positions compared to 2023.

Calabarzon (P1.9 billion) and Central Luzon (P1.02 billion) remained the top regions for GMV.

Packworks has compiled data from over 300,000 sari-sari stores across the country through Sari IQ, launched in 2022, to help retailers and brands make data-driven decisions.

During its first Sari-Sari Store Innovation Summit, Packworks examined how technology is empowering sari-sari stores.

Former DTI Undersecretary Ed Sunico emphasized public-private partnerships such as “Tindahan Mo, e-Level Up Mo!” in supporting MSMEs.

“Together, we envision a future for sari-sari stores that goes beyond digital,” said Bing Tan, CEO of Packworks.

Visit packworks.io to learn more.