In 2024, Filipinos adopted the saying, “Kapag maiksi ang kumot, matutong mamaluktot“ (when the blanket is short, learn to bend). This means they adjust to rising prices by shopping wisely and using their resources carefully.
Packworks’ latest Sari IQ report, which gathered information from over 300,000 sari-sari stores nationwide, indicates that sales of seasoning mix items increased by 80% compared to the previous year, while sales of recipe mixes rose by 72%. Furthermore, seasoning mixes were sold in 69% more sari-sari stores. In contrast, recipe mixes experienced an even greater expansion, reaching 79% more locations.
Many Filipino households are finding smart ways to manage their budgets. They are adding cost-effective ingredients to make cheaper foods from wet markets taste better. As prices go up, many Filipinos are looking for ways to make their money last longer.
The Bicol region (Region V) had the highest sales growth this year, earning over PHP 616 million in gross merchandise value (GMV) from sari-sari store transactions. This is a rise of four positions compared to 2023. In comparison to last year, CALABARZON (Region IV-A) with PHP 1.9 billion, Central Luzon (Region III) with PHP 1.02 billion, Cagayan Valley (Region II) with PHP 979 million, Ilocos Region (Region I) with PHP 811 million, and Central Visayas (Region VII) with PHP 695 million remained the top regions for GMV.
“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.
Find out how Packworks helps sari-sari store owners in the Philippines and changes grassroots retail by visiting http://packworks.io/.
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