8th sari-sari store festival: Prince Warehouse continues to promote entrepreneurship

CEBU, Philippines - A local retail chain aims to promote entrepreneurial spirit and strengthen the growing sari-sari store community with the annual celebration of its Sari-Sari Store Festival that is slated tomorrow at the Cebu International Convention Center (CICC) in Mandaue City.

Now on its 8th year, Prince Warehouse Club that is known for its concept geared towards volume and cheap prices will hold its yearly Sari-Sari Store Festival with the theme “Pakiglambigit: Sari-Sari Store Festival W8w Na!”

According to Prince Warehouse Club supply chain manager Rina Go, the festival is intended to give back and extend its gratitude to its loyal customers taking into account its significant contribution to the vibrant growth of the company.

Out of the 70,000 members of Prince Warehouse Club in the Visayas and Mindanao regions, 40,000 sari-sari store owners are located in Cebu.

The 8th Sari-Sari Store Festival further aims to gather sari-sari store owners in Cebu to take advantage of the various activities lined up for the club members.

These include regular product exhibition, entrepreneurial talks in basic accounting, microfinance, and basic business principles, and sharing of success stories among others that are designed to help sari-sari store owners grow their business.

Speakers during the event include RJ7Microfinance finance manager Jedd Ryan Go who will talk about microfinance support services and other incentives, Nestle Phils Inc. area sales manager Loewen Fuentes who will discuss about space management, Virginia Foods Inc. vice president for marketing Stanley Go who will tackle on the basics of entrepreneurship, Prince Warehouse Club accounting manager Feliza Tambago who will talk about financial literacy, Unilever key accounts manager Clarissa Luna who will discuss about business, and Google Developers Group Cebu co-community manager Ka Bino Guerrero who will tackle on how sari--sari store owners could possibly use social media in their businesses.

The local retail chain expects to draw around 2,000 sari-sari store owners during the event.

This year’s Sari-Sari Store Festival will be graced with the presence of re-elected senator Allan Peter Cayetano along with Cebu Governor Hilario Davide III and Cebu City Mayor Michael Rama.

Suppliers, distributors, sponsors and other exhibitors shall showcase their goods and trade their products at wholesale prices in the 1,500-square meter plenary exhibition hall of CICC.

The whole-day affair will be capped off with the awarding of the Best in Booth Display, Most Outstanding Principals, Most Outstanding Distributors, Most Improved Distributors, and the Top Sellers of the Year.

 Prince Warehouse Club president and chief executive officer Robert Go said that the traditional retail industry which is represented by the sari-sari store community is seen to continuously boost the economy as more Filipinos are attracted to the fastest and easiest business venture they can get into.

Given the sachet-driven economy of the Philippines, he added that sari-sari store owners account a significant contribution to the economy as part of the retail industry.

Although these entrepreneurs have less capital, he said that sari-sari store owners who comprise the majority of the retail sector is likewise considered as one of the main entrepreneurial growth drivers that pushes the economy to be on the upward trend.

The traditional retail sector that includes the sari-sari stores comprises 60 percent of the retail industry.

The retail chain has branches in North Reclamation Area, old MCWD building, Bulacao, Danao City, Minglanilla, and Argao.

Prince Warehouse Club also has branches in Baybay and Maasin in Leyte, Naval in Biliran, and Cabadbaran City in Agusan del Norte to extend its services to the neighboring provinces in the Visayas and Mindanao./JOB (FREEMAN)