A typical sari-sari store in the Philippines – Photo from Packworks
MANILA, Philippines — Sari-sari stores saw a surge in sales in March as Filipinos stocked up on goods amid expected price increases and supply disruptions linked to the Middle East crisis.
Across its network of more than 300,000 stores, Filipino tech startup Packworks said gross merchandise value (GMV) had jumped to P3.73 billion in March from P1.97 billion in February.
Packworks attributed the increase to fuel price volatility. After oil firms had announced double-digit price hikes on March 17, GMV surged by 265 percent on March 21, “signaling a preemptive move by store owners to secure inventory before logistical costs trickled down to retail prices.”