CEBU, Philippines – Sari-sari storeowners need to brush up on their skills in accounting, stocking and inventory to be able to grow their businesses and upgrade operations.
This according to Prince Warehouse Club chief executive officer and president Robert Go adding that amidst the negative impact of the economic situation to the buying power of consumers, sari- sari store operators continue to thrive especially those who operate in towns.
“The impact of the economic crisis to the sari-sari store sector depends on their locations. For those who operate near manufacturing companies, factories, and export zones wherein workers are experiencing cutbacks on workload, they might be affected and hit by the recession but for those who are in towns they still continue to manage,” said Go.
He said that although there is no substantial growth, this micro entrepreneur sector has not been hardly hit by the crisis, although a slight contraction has been felt.
“Most sari-sari stores sell a variety of items and most are immediate needs of the community like something to eat and consume so people go there daily to buy,” said Go.
He said that the good thing about these micro entrepreneurs is that they sell “sachetized” products that are affordable to the retail consumers so making a sell not difficult.
“They provide essential and basic items which are fast moving considering that people have to eat and they need most of these products on a daily basis so they still continue to generate sales.” said Go.
He said that as the Philippine Retailers Association (PRA) committee chairman for micro entrepreneurs, he is looking at the possibility of organizing the sector to help them graduate from the “underground economy” or the informal sector.
He said Prince Warehouse Club has its so-called sari-sari store society, with members that has grown into 7,000 sari-sari storeowners.
Go said that this group was formed as their way of bonding together and help sari-sari storeowners who are still considered as part of the informal sectors in the business community to organize and formalize their sector.
This coming July 24, Prince Warehouse is expecting around 1,500 sari-sari storeowners to partake in its annual gathering tagged as the Sari-sari Store Festival with the theme “Sari- sari Stores Thinking Beyond” to be held at the Cebu International Convention Center.
Prince Warehouse Club chief operating officer Rhea Go said that this annual event was geared towards fostering a stronger relationship with sari-sari store owners who comprise a big chunk in their store's customer traffic.
She said that during the festival, participants will be equipped with the appropriate skills that will help them manage their business through sessions of trainings and talks on basic accounting, merchandising, inventory and the tips on efficiently running their business so that capital will be rolled back in the store.
“With the current issues on the increase of oil, food shortage and economic crisis, we want to give our client base the opportunity to aide them in their business. We believe that with the right merchandise that Prince Warehouse can provide them along with the proper training in managing their small business, we can create an impact to Filipino families,” said Go.
Aside from these basic training sessions, the Sari-sari store festival will also showcase micro lenders that could be accessed by these micro entrepreneurs in their capital requirements and key note speakers senator Mar Roxas and Cerge Remonde is expected to grace the event.
Also, suppliers of Prince warehouse club will offer participants wholesale rates for their various products as well as provide them various forms of games and entertainment and top buyers will also be awarded, added Go. — Rhia de Pablo