In the bustling markets of the Philippines, sari-sari (retail) stores are more than just neighborhood retail outlets—they are vital parts of the community fabric, offering daily necessities and services close to home.
However, these family-run businesses often grapple with challenges such as limited access to capital, difficulties with inventory management, and vulnerability to economic and natural disruptions. In 2016, GrowSari was launched to empower these small merchants by providing affordable products, e-business solutions, and critical financial services.
A pioneering tech-enabled B2B platform, GrowSari is revolutionizing how sari-sari stores operate and grow. By providing tailored financial products, GrowSari helps these stores thrive in a competitive market. The platform offers affordable and on-demand inventory access, with free delivery for orders over $10 and a five-day grace period to manage cash flow better before payments are due.
This arrangement not only eases cash flow pressures but also enables sari-sari stores to be more fully stocked and experiment with new products. This benefits store owners through increased sales and offers greater convenience to customers, who can find nearly all their needs in one place. Understanding the financial constraints small stores face, GrowSari also extends credit lines that grow with the business, offering more significant support as the store’s order history and reliability improve.
One notable success story is that of Aubrey Udag, a GrowSari client since 2019. Over the years, she has placed 300 orders with an average basket of US $200. Through her partnership with GrowSari, she has managed to significantly expand her business. Leveraging the platform’s financial products and services, Aubrey recently opened a second store located right across the street from her first. This expansion not only highlights the growth potential fostered by GrowSari, but also underscores the vital role of financial support in enabling local entrepreneurs to thrive and serve their communities more effectively. Her dream is to open a third store that can be run by her husband. He currently works on a cruise ship and is only home for two months a year.
Recognizing the risks posed by natural disasters and accidents, GrowSari also offers specialized insurance products to protect store inventory, ensuring that owners can recover from losses without financial devastation. The platform also encourages a shift towards digital by covering merchant acceptance fees, facilitating a smoother transition to digital payments, which is increasingly crucial in today’s economy.
Additionally, GrowSari enriches the community role of sari-sari stores by integrating over 200 microservices. These services transform traditional stores into vibrant community hubs, offering utilities like bill payments, e-commerce, telecommunication products and plane tickets, broadening the scope of their services and enhancing their importance within the community.
The impact of GrowSari’s innovative model is significant, boosting profitability and resilience for sari-sari stores across the Philippines. As GrowSari continues to expand its reach, its commitment to integrating these stores in the fast-moving consumer goods (FMCG) supply chain underscores a sustainable growth model that benefits both business owners and their communities. With GrowSari’s support, sari-sari stores are set to become more than just retail outlets; they are also becoming cornerstone institutions for economic growth and community development in the Philippines.