A local startup has secured P3.5 million in funding from the Department of Science and Technology to help sari-sari stores compete in the digital space.Of the P3.5 million in research funding, Packworks will allocate P1.5 million to developing a machine-learning-powered precision marketing model that will offer sari-sari stores customized recommendations on sellable items and promotions.
Inadequate financial management, a lack of actionable customer insights, and ineffective promotional campaigns are among the challenges facing sari-sari stores in the country, Packworks said.“Furthermore, the current absence of a streamlined approach for receiving high-quality promotions, such as discounts or personalized item packages from FMCG manufacturers, restricts store owners from enticing and retaining customers effectively,” the company said.