Sari-sari store owners using an artificial intelligence-powered inventory planning tool reported a 79% increase in median sales and a 47% rise in median gross merchandise value (GMV), according to tech startup Packworks. In a statement reported by BusinessWorld, the company cited results from over 1,000 stores using its AI-powered Store Insighting Project (SIP).
The SIP tool analyzes sales data and inventory levels to help small retailers optimize stock, reduce waste, and identify fast-moving products. Packworks said the improvements in sales and GMV were observed over a specific period, though it did not disclose the exact timeframe of the study.
The findings highlight how artificial intelligence can benefit micro-retailers, which are a backbone of the Philippine distribution network. Packworks plans to expand the project to more sari-sari stores nationwide, aiming to enhance their competitiveness through data-driven insights.