Sari-sari stores see soaring sales in energy drink, iced tea in 2024 as Philippines brave hottest year - Packworks study
As the Philippines experienced its hottest year on record in 2024, Filipinos turned to sari-sari stores for relief. Tech startup Packworks released key findings through its mobile sari-sari store app and business intelligence tool, Sari IQ, which analyzes over 1 million sales transactions per month from its network of over 300,000 sari-sari stores nationwide. The report revealed consumption trends that highlight the crucial role neighborhood stores play in meeting immediate needs during extreme weather. According to its 2024 data, well-known energy drink brand Sting recorded a whopping 83% sales increase, with a PHP 34 million gross merchandise value (GMV) compared to the previous year, up from PHP 18 million. The sari-sari store staple saw notable sales margins, with Region IV-A (CALABARZON) leading at PHP 7 million in GMV, followed by Region II (Cagayan Valley) at PHP 6.6 million and Region III (Central Luzon) at PHP 6.1 million. While t...
