PackworksThe B2B marketplace is aimed at sari sari stores in the neighbourhood. PhilippinesThe. received US$60,000 of research funding from the Department The following are some examples of how to use Science You can also find out more about the following: Technology (DOST).

The DOST was the main channel for funding.Philippine Council The following are some examples of how to use Industry, Energy You can also find out more about the following: Emerging Technology Research You can also find out more about the following: Development (PCIEERD) Startup Grant Fund (SGF) Program.

Also Read: How soonicorn GrowSari plans to expand its reach to 300K sari-sari stores in Philippines

The The money will help Packworks develop a machine-learning-powered precision marketing model. This The model will provide sari-sari shops with customised recommendations for sellable items as well as promotions from its FMCG Partners. The feature will be launched as an in-app service on the startup’s Sari.PH Pro The app is expected to benefit the network of 270,000 stores across the country.

The It is the goal to equip more that 1.3 millions micro-retail shops in the nation with inventory management tools based on data to improve business growth. “Through this AI-powered model we will develop in partnership with DOST, we aim to equip small entrepreneurs with data-driven insights and targeted strategies for enhanced business success and expansion,&#8221You said Packworks Chief Data Officer Andoy Montiel.

Sari-sari stores form part of Micro, Small, and Medium-sized Enterprises (MSMEs). PhilippinesThen, you can say that account for an overwhelming 99.5 per cent All business establishments. Around Wholesale and retail industries employ 500,000 people.

Despite serving as the primary source of daily essentials for around 94 per cent of Filipinos, Sari-sari stores often face challenges such as inadequate financial management, lack of actionable customer insights, and ineffective promotional campaigns.

FurthermoreLack of a streamlined method to receive high quality promotions from FMCG producers, such a discounts or item packages personalised, limits the ability of store owners to effectively attract and retain customers.

Launched In 2018, as a solution to multinational companies that only have a few sari-sari partners. Packworks The platform has evolved into a B2B one that allows growth and success for all the stakeholders of the supply chain ecosystem. This includes small sari sari store owners, wholesalers, retailers, FMCG brands and companies, as well as distributors and wholesalers. Through You can also find out more about the following: Sari.PH Pro App allows sari-sari owners to access tools for inventory management, tracking sales and revenue, and working capital loans.

Also Read: Packworks bags US$2M to launch m-ERP platform for Filipino sari-sari stores

In July 2022, Packworks raised US$2 million In seed investment led Fast Group CVC, a global PE company Capital PartnersADB Participates in the. Ventures, Arise, TechstarsIdeaSpace Foundation.

In Launched in 2022 is the startup Sari IQ is a business intelligence software that offers real-time data on consumer spending and historical data. It helps retailers and brands to gain visibility in sari-sari shops and to reach more customers. Analysis Through the platform, they can also make data driven decisions to boost sales for sari sari store owners in their area by understanding and anticipating consumer demand.

Image Credit: Packworks.

The Postings by other people Filipino B2B marketplace Packworks gets government backing to develop AI feature First on e27.

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