Pinoys find ways to cope with rising prices - study

Sari-sari stores in the country saw double-digit increases in sales of seasoning and recipe mixes this year, highlighting the resourcefulness of Filipinos as they navigate rising prices.

- CATHERINE TALAVERA

Based on the latest Sari IQ report, Filipino startup Packworks said sales of seasoning mix items grew by 80 percent this year compared to the previous year, while recipe mix sales surged by 72 percent.

Findings of the report also showed that seasoning mix was sold in 69 percent more sari-sari stores, while recipe mix saw an even greater reach, expanding to 79 percent more locations, according to the report.

The startup, which provides a business-to-business (B2B) open platform to sari-sari stores, said the trends reflect the resourcefulness of Filipino households, who are stretching their budgets by buying cost-effective additives to enhance cheaper ingredients sourced from wet markets.

It said that as prices continue to rise, many Filipinos find ways to make their money go further.

"The resilience of Filipinos shines through in the way they adapt their purchasing habits to make ends meet. These insights highlight not only the shifting preferences of sari-sari store customers but also their enduring ingenuity in navigating economic challenges," Packworks chief data officer Andoy Montiel said.